<SUBMISSION>
<ACCESSION-NUMBER>0000950130-01-502831
<TYPE>S-1/A
<PUBLIC-DOCUMENT-COUNT>15
<REFERENCES-429>333-59194
<FILING-DATE>20010702
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ACCENTURE LTD
<CIK>0001134538
<ASSIGNED-SIC>7389
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>S-1/A
<ACT>33
<FILE-NUMBER>333-59194
<FILM-NUMBER>1673147
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>CEDAR HOUSE, 41 CEDAR AVE.
<CITY>HAMILTON
<STATE>A1
<ZIP>00000
</BUSINESS-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>S-1/A
<SEQUENCE>1
<FILENAME>ds1a.htm
<DESCRIPTION>AMENDMENT # 2 TO FORM S-1
<TEXT>

<HTML>
<HEAD>
 <TITLE>AMENDMENT # 2 TO FORM S-1</TITLE>
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<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
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<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>As filed with the Securities and Exchange Commission on July 2, 2001.</B></FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Registration No. 333-59194</B></FONT></DIV>
<HR SIZE=1 NOSHADE> <HR SIZE=1 NOSHADE> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times"><B>Washington, D.C. 20549</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>AMENDMENT NO. 2</B></FONT></DIV>

<DIV ALIGN="center"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times"><B>TO</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>FORM S-1</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B></I></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE LTD</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Exact Name of Registrant as Specified in its Charter)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

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<TD VALIGN="top" WIDTH="29%" ALIGN="left"> <DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Bermuda</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(State or Other Jurisdiction of</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Incorporation or Organization)</B></FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="27%"> <DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>54161</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Primary Standard Industrial</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Classification Code Number)</B></FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>98-0341111</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(I.R.S. Employer</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Identification No.)</B></FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
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<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Cedar House</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>41 Cedar Avenue</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Hamilton HM12, Bermuda</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(441) 296-8262</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant&#146;s Principal Executive Offices)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Douglas G. Scrivner</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Accenture Ltd</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>1661 Page Mill Road</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Palo Alto, CA 94304</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(650) 213-2000</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Name and Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Copies to:</B></I></FONT></DIV>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="45%" ALIGN="left"> <DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>John B. Tehan</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Alan D. Schnitzer</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Simpson Thacher &amp; Bartlett</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>425 Lexington Avenue</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>New York, NY 10017</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Telephone: (212) 455-2000</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Facsimile: (212) 455-2502</B></FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>John J. Huber</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Raymond Y. Lin</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Latham &amp; Watkins</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>555 11th St., N.W.</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Washington, DC 20004-1304</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Telephone: (202) 637-2200</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Facsimile: (202) 637-2201</B></FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approximate date of commencement of proposed sale to the public: </B>As soon as practicable after this Registration
Statement becomes effective.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to
Rule 415 under the Securities Act of 1933, check the following box.&nbsp;&nbsp;</FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#168;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities
Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;</FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#168;</FONT><FONT
SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following
box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;</FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#168;</FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following
box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;</FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#168;</FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If delivery of the prospectus is expected to be made pursuant to Rule 434 under the Securities Act, check the following
box.&nbsp;&nbsp;</FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#168;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>
<DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its
effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration
Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<HR SIZE=1 NOSHADE> <HR SIZE=1 NOSHADE> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>Explanatory Note:</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Registration Statement contains two forms of a prospectus: one to be used in connection with an offering in the
United States and one to be used in a concurrent international offering outside the United States. The two prospectuses are identical except for the front cover page, the &#147;Underwriting&#148; section and the back cover page. Each of these pages
for the U.S. prospectus is followed by the alternate page to be used in the international prospectus. Each of the alternate pages for the international prospectus is labeled &#147;Alternate Page For International Prospectus.&#148; Final forms of
each prospectus will be filed with the Securities and Exchange Commission under Rule 424(b).</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">[Inside Front Cover Artwork:</FONT></DIV>



<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">A photograph of one woman and two men looking at a computer occupies the full page. The following text is written across the page approximately 5.5" from the bottom of
the page: &#147;Argentina Australia Austria     Belgium Brazil Canada Columbia Czech Republic Denmark Finland     France Germany Greece*&#148;. A footnote on the lower left hand corner     of the page reads, &#147;*Accenture has offices in these
countries.&#148;]</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">[Front Gatefold Artwork:</FONT></DIV>



<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The left side of the 11x17" gatefold is solid orange except     for the following text which is left justified and begins 4.5" from the bottom of the page:
&#147;Accenture Helping clients accelerate their vision from innovation to execution.&#148; The right side of the gatefold is a full page photograph of three women looking at a document. The following text is written across the gatefold
approximately 5.5" from the bottom of the gatefold:     &#147;Hungary India Indonesia Ireland Italy Japan Luxembourg Malaysia     Mexico The Netherlands New Zealand Nigeria Norway People&#146;s Republic     of China The Philippines Poland Portugal
Russia Saudi Arabia Singapore     Slovak Republic South Africa*&#148;. A footnote on the lower left hand     corner of the gatefold reads, &#147;*Accenture has offices in these     countries.&#148;]</FONT></DIV>

<DIV ALIGN="left">


</DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#ff3516" FACE="Arial, Helvetica"> <B>Subject to Completion. Dated June 29, 2001.</B></FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<IMG SRC="g9046890468balan04.jpg" WIDTH="193" HEIGHT="55"></B></FONT></DIV>
<DIV ALIGN="right"><FONT SIZE="4" COLOR="#000000" FACE="Arial, Helvetica"></FONT></DIV>
<DIV ALIGN="right"><FONT SIZE="4" COLOR="#000000" FACE="Arial, Helvetica">115,000,000 Class A Common Shares</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">This is an initial public offering of Class A common shares of Accenture Ltd. This prospectus relates to an offering of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp; shares in the United States. In addition, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares are being offered outside the United States in an international offering. All of the 115,000,000 Class
A common shares are being sold by Accenture Ltd.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Prior to this offering, there has been no public market for the Class A common shares. It is currently estimated that the initial public offering price per share will be
between $13.00 and $15.00. The Class A common shares have been approved for listing on the New York Stock Exchange under the symbol &#147;ACN.&#148;</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Upon completion of the offering, our partners will own or control shares representing, in the aggregate, approximately 82% of the voting interest in Accenture Ltd, or
approximately 80% if the underwriters exercise their overallotment option in full, and will effectively control all matters put to a vote of Accenture Ltd shareholders.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>See &#147;Risk Factors&#148; beginning on page 13 to read about factors you should consider before buying the Class A common shares.</I></FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy
of this prospectus. Any representation to the contrary is a criminal offense.</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="100%" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Per Share</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Total</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Initial public offering price</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Underwriting discount</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Proceeds, before expenses, to Accenture Ltd</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">To the extent that the underwriters sell more than &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A common shares, the underwriters have the
option to purchase up to an additional &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A common shares from Accenture Ltd at the initial public offering price less the underwriting discount.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">The underwriters expect to deliver the shares in New York, New York on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;, 2001.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="5">&nbsp;

</FONT></DIV>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" ALIGN="left">  <DIV ALIGN="left"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Goldman, Sachs &amp; Co.</B></FONT></DIV>
</TD>
<TD WIDTH="4%" VALIGN="top"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="right"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Morgan Stanley</B></FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;

</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV ALIGN="left"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Credit Suisse First Boston</B></FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche Banc Alex.
Brown</B></FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="46%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="54%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>JPMorgan</B></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV ALIGN="right"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Salomon Smith Barney</B></FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Banc of America Securities LLC</B></FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="14%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="86%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Lehman Brothers</B></FONT></DIV>
</TD>
</TR>
</TABLE>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="28%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="72%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Merrill Lynch &amp; Co.</B></FONT></DIV>
</TD>
</TR>
</TABLE>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="41%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="59%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>UBS Warburg</B></FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="54%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="46%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>ABN AMRO Rothschild LLC</B></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Prospectus dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;, 2001.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#ff3516" FACE="'Times New Roman', Times">The information in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the
Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>[Alternate Page For International Prospectus]</B></FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#ff3516" FACE="'Times New Roman', Times">The information in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the
Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#ff3516" FACE="Arial, Helvetica"> <B>Subject to Completion. Dated June 29, 2001.</B></FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<IMG SRC="g9046890468balan04.jpg" WIDTH="193" HEIGHT="55"></B></FONT></DIV>
<DIV ALIGN="right"><FONT SIZE="4" COLOR="#000000" FACE="Arial, Helvetica">115,000,000 Class A Common Shares</FONT></DIV>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">This is an initial public offering of Class A common shares of Accenture Ltd. This prospectus relates to an offering of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp; shares outside the United States. In addition, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares are being offered in the United States. All of the 115,000,000 Class A common shares are being
sold by Accenture Ltd.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Prior to this offering, there has been no public market for the Class A common shares. It is currently estimated that the initial public offering price per share will be
between $13.00 and $15.00. The Class A common shares have been approved for listing on the New York Stock Exchange under the symbol &#147;ACN.&#148;</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Upon completion of the offering, our partners will own or control shares representing, in the aggregate, approximately 82% of the voting interest in Accenture Ltd, or
approximately 80% if the underwriters exercise their overallotment option in full, and will effectively control all matters put to a vote of Accenture Ltd shareholders.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>See &#147;Risk Factors&#148; beginning on page 13 to read about factors you should consider before buying the Class A common shares.</I></FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy
of this prospectus. Any representation to the contrary is a criminal offense.</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="100%" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Per Share</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Total</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Initial public offering price</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Underwriting discount</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Proceeds, before expenses, to Accenture Ltd</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">To the extent that the international underwriters sell more than &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A common shares, the
international underwriters have the option to purchase up to an additional &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A common shares from Accenture Ltd at the initial public offering price less the underwriting
discount.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">The international underwriters expect to deliver the shares in New York, New York on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2001.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></DIV>
<DIV ALIGN="left">

<FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<BR>
</B></FONT>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Goldman Sachs International</B></FONT></TD>
<TD ALIGN="right"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Morgan Stanley</B></FONT></TD>
</TR>
</TABLE>
<FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"></FONT>

</DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Credit Suisse First Boston</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV ALIGN="left"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Deutsche Bank</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>JPMorgan</B></FONT></DIV>
<DIV ALIGN="right"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Salomon Smith Barney</B></FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Banc of America Securities Limited</B></FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lehman Brothers</B></FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merrill Lynch
International</B></FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UBS Warburg</B></FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABN AMRO Rothschild</B></FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">Prospectus dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;, 2001.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should rely only on the information contained in this prospectus. We have not authorized anyone to provide you
with different information. We are not making an offer to sell these securities in any jurisdiction where the offer is not permitted. You should not assume that the information contained in this prospectus is accurate as of any date other than the
date on the front cover of this prospectus.</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bermuda Monetary Authority has classified us as non-resident of Bermuda for exchange control purposes. Accordingly,
the Bermuda Monetary Authority does not restrict our ability to convert currency, other than Bermuda dollars, held for our account to any other currency, to transfer funds in and out of Bermuda or to pay dividends to non-Bermuda residents who are
shareholders, other than in Bermuda dollars. The permission of the Bermuda Monetary Authority is required for the issue and transfer of our shares under the Exchange Control Act 1972 of Bermuda and regulations under it.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have obtained the permission of the Bermuda Monetary Authority for the issue of the Class A common shares that we may
sell in the offering described in this prospectus. In addition, we have obtained the permission of the Bermuda Monetary Authority for the free issue and transferability of the Accenture Ltd Class A common shares following the offering. Approvals or
permissions received from the Bermuda Monetary Authority do not constitute a guaranty by the Bermuda Monetary Authority as to our performance or our creditworthiness. Accordingly, in giving those approvals or permissions, the Bermuda Monetary
Authority will not be liable for our performance or default or for the correctness of any opinions or statements expressed in this document.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have filed this document as a prospectus with the Registrar of Companies in Bermuda under Part III of the Companies
Act 1981 of Bermuda. In accepting this document for filing, the Registrar of Companies accepts no responsibility for the financial soundness of any proposals or for the correctness of any opinions or statements expressed in this
document.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx1"></A>
SUMMARY</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This summary highlights some of the information contained elsewhere in this prospectus. We urge you to read the
entire prospectus carefully, including the &#147;Risk Factors&#148; and &#147;Pro Forma Combined Financial Information&#148; sections and our historical combined financial statements and related notes included elsewhere in this prospectus, before
making an investment decision.</I></FONT></DIV>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Accenture</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture is the world&#146;s leading provider of management and technology consulting services and solutions. We have
more than 75,000 employees based in more than 110 offices in 46 countries delivering to our clients a wide range of consulting, technology and outsourcing services. We operate globally with one common brand and business model. We work with clients
of all sizes and have extensive relationships with the world&#146;s leading companies and governments. We serve 84 of the<I> Fortune</I> Global 100 and more than half of the <I>Fortune</I> Global 500. In total, we have served more than 4,000 clients
on nearly 18,000 engagements over the past five fiscal years.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our business consists of using our industry knowledge, our service offering expertise and our insight into and access to
existing and emerging technologies to identify new business and technology trends and formulate and implement solutions for clients under demanding time constraints. We help clients around the world identify and enter new markets, increase revenues
in existing markets and deliver their products and services more effectively and efficiently. We deliver our services and solutions through five global market units, which together comprise 18 industry groups. Our industry focus enables our
professionals to provide business and management consulting, technology and outsourcing services with an understanding of industry evolution, business issues and applicable technologies, and ultimately to deliver solutions tailored to each
client&#146;s industry. Our five global market units and 18 industry groups are:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="98%" VALIGN="top"> <DIV ALIGN="left"><HR WIDTH="98%" SIZE="1" NOSHADE></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="100%" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Communications
<BR>
&amp; High Tech</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Financial
<BR>
Services</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Products</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Resources</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Government</B></FONT></TH>
</TR>
<TR>
<TD COLSPAN=9 VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN=10><DIV ALIGN="left"><HR SIZE=1 NOSHADE></DIV>
</TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Communications</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Banking</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Automotive</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Chemicals</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Government</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Electronics
&amp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Health
Services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Consumer
Goods</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Energy</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;High Tech</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Insurance</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&amp; Services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Forest
Products</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Media
&amp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Industrial</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Metals &amp;
Mining</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;Entertainment</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;Equipment</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Utilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
</TR>
<TR>
<TD VALIGN="top" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Pharmaceuticals &amp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
</TR>
<TR>
<TD VALIGN="top" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;Medical Products</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
</TR>
<TR>
<TD VALIGN="top" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Retail</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
</TR>
<TR>
<TD VALIGN="top" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;Transportation &amp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
</TR>
<TR>
<TD VALIGN="top" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;Travel Services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="left"></TD>
</TR>
<TR>
<TD COLSPAN=10><DIV ALIGN="left"><HR SIZE=1 NOSHADE></DIV>
</TD>
</TR>
<TR>
<TD COLSPAN=9 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=9><FONT SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD COLSPAN=9 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>Percent of revenues before reimbursements for the year ended August 31, 2000</I></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">26%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">17%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8%</FONT></TD>
</TR>
<TR>
<TD COLSPAN=10><DIV ALIGN="left"><HR SIZE=1 NOSHADE></DIV>
</TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We develop and deliver a full spectrum of services and solutions that address business opportunities and challenges
common across industries through the following eight service lines:</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="42%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"> Strategy &amp; Business Architecture</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> Customer Relationship
Management</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> Supply Chain Management</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> Human Performance</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
Finance &amp; Performance Management</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> Technology Research &amp;
Innovation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> Solutions Engineering</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> Solutions Operations</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our affiliates, alliances and venture capital activities enhance our management and technology consulting services and
solutions business. If a capability that we do not already possess is of strategic importance and value to us but is in an area that is best developed in a business model outside our client service business, we may form a new business, often with
one or more third parties, to develop that capability. We call these businesses &#147;affiliates.&#148; In general, we expect the capabilities developed by these new businesses to be used by our own professionals as well as by other companies. We
enter into alliances because today&#146;s business environment demands more speed, flexibility and resources than typically exist at any single company. We seek to form alliances with leading companies and organizations whose capabilities complement
our own, whether by extending or deepening a service offering, delivering a new technology or business process or helping us extend our services to new geographies. Our venture capital business, Accenture Technology Ventures, gives us insight into
and access to emerging business models, products and technologies through investments in portfolio companies. Although we have not generated material revenues from our affiliates, alliances and venture capital activities, we believe that our
approach, which we refer to as our &#147;network of businesses,&#148; provides us with a fundamental advantage in delivering value to our clients.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues are driven by our partners&#146; and senior executives&#146; ability to secure contracts for new engagements
and to deliver products and services that add value to our clients. We derive substantially all of our revenues from contracts for management and technology service offerings and solutions that we develop, implement and manage for our clients.
Substantially all of our contracts include time-and-materials or fixed-price terms.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our leading position in the management and technology consulting services and solutions markets results from the number
of our professional consultants, our global scale and reach, our deep industry knowledge, our broad service offering expertise, our extensive client relationships and our history of technology innovation.</FONT></DIV>

<DIV ALIGN="left">


</DIV>
<DIV ALIGN="left">


</DIV>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Our Corporate Information</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd is organized under the laws of Bermuda. We maintain a registered and principal executive office in Bermuda
at Cedar House, 41 Cedar Avenue, Hamilton HM12, Bermuda. Our telephone number in Bermuda is (441)<B> </B>296-8262. We also have major offices in the world&#146;s leading business centers, including New York, Chicago, Dallas, Los Angeles, San
Francisco, London, Frankfurt, Madrid, Milan, Paris, Sydney and Tokyo. In total, we have more than 110 offices in 46 countries around the world. Our Internet address is www.accenture.com. Information contained on our Web site is not a part of this
prospectus.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We use the term &#147;partner&#148; in this prospectus to refer to the partners and shareholders of the series of
related partnerships and corporations through which we operated our business prior to our transition to a corporate structure. These individuals have become our executive employees following our transition to a corporate structure but will retain
the &#147;partner&#148; title. Where the context permits, the term also refers to our employees and others who have been or are in the future named as &#147;partners&#148; in this executive sense. In using the term &#147;partner,&#148; we do not
mean to imply any intention of the parties to create a separate legal entity.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until August 7, 2000, we had contractual relationships with Andersen Worldwide and Arthur Andersen. Following
arbitration proceedings between us and Andersen Worldwide and Arthur Andersen that were completed in August 2000, we separated from Andersen Worldwide and Arthur Andersen. On



January 1, 2001, we began to conduct business under the name Accenture. See &#147;Certain Relationships and Related Transactions&#151;Relationship with Andersen Worldwide and Arthur Andersen.&#148;</FONT></DIV>

<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Organizational Structure</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd is a Bermuda holding company with no material assets other than Class I and Class II common shares in our
subsidiary, Accenture SCA, a Luxembourg partnership limited by shares. Each Class I common share and each Class II common share of Accenture SCA entitles its holder to one vote on all matters submitted to a vote of shareholders of Accenture SCA.
Each Accenture SCA Class II common share entitles Accenture Ltd to receive a dividend or liquidation payment equal to 10% of any dividend or liquidation payment to which an Accenture SCA Class I common share entitles its holder. Accenture Ltd holds
all of the Class II common shares of Accenture SCA and has a majority voting interest in Accenture SCA. Accenture Ltd&#146;s only business is to hold these shares and to act as the sole general partner of Accenture SCA. As the general partner of
Accenture SCA and as a result of Accenture Ltd&#146;s majority voting interest in Accenture SCA, Accenture Ltd controls Accenture SCA&#146;s management and operations and will consolidate Accenture SCA&#146;s results in its financial statements. We
operate our business through subsidiaries of Accenture SCA.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None of our partners will be selling shares in the offering, and, immediately following the offering, our partners will
own approximately 82% of the equity in our business, or approximately 80% if the underwriters exercise their overallotment option in full. Upon completion of the offering, our partners will own or control shares representing, in the aggregate,
approximately 82% of the voting interest in Accenture Ltd, or approximately 80% if the underwriters exercise their overallotment option in full. Immediately following the offering, our public shareholders (including our non-partner employees) will
own approximately 18% of the equity in our business, or approximately 20% if the underwriters exercise their overallotment option in full, and will own shares representing approximately 18% of the voting interest in Accenture Ltd, or approximately
20% if the underwriters exercise their overallotment option in full.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our organizational structure immediately following the offering will be as shown in the diagram below. The diagram does
not display the subsidiaries of Accenture SCA and does not reflect exercise of the underwriters&#146; overallotment option.</FONT></DIV>

<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<IMG SRC="g9046890468bblan62.jpg" WIDTH="523" HEIGHT="472"></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Includes non-partner employees.</FONT></DIV>
</TD>
</TR>
</TABLE>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(2)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Generally consists of our partners in countries other than Australia, Canada, Denmark, France, Italy, New Zealand, Norway,
Spain, Sweden and the United States.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(3)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Generally consists of our partners in Australia, Canada, Denmark, France, Italy, New Zealand, Norway, Spain, Sweden and the
United States. Our partners in Canada and New Zealand do not hold Accenture Ltd Class A common shares or Accenture SCA Class I common shares, but instead hold Accenture Canada Holdings exchangeable shares. Each of these exchangeable shares is
exchangeable at the option of the holder for an Accenture Ltd Class A common share on a one-for-one basis and entitles its holder to receive distributions equal to any distributions to which an Accenture Ltd Class A common share entitles its
holder.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We intend to make all distributions to all of our equity holders pro rata based on economic ownership. Based on the
shares outstanding immediately after the offering and assuming no exercise of the underwriters&#146; overallotment option, our public shareholders would receive approximately 18% of any distribution. You should read &#147;Accenture Organizational
Structure,&#148; &#147;Certain Relationships and Related Transactions&#148; and &#147;Description of Share Capital&#148; for additional information about our corporate structure.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>The Offering</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="541" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Class A common shares offered in the
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;offering</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">115,000,000 Class A common shares.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=3 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=3><FONT SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Class A common shares to be outstanding
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;immediately following the offering(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;
<BR>
394,536,601 Class A common shares (or
<BR>
989,999,405 Class A common shares if our partners&#146;
<BR>
holdings of Accenture SCA Class I common shares
<BR>
and Accenture Canada Holdings exchangeable
<BR>
shares are redeemed or exchanged for newly issued
<BR>
Class A common shares on a one-for-one basis).</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1)&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Class A common shares to be outstanding immediately following the offering and the other information in the prospectus based
thereon reflects:</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">115,000,000 Class A common shares offered in the offering;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">212,335,219 Class A common shares held by our partners (or 807,798,023 Class A common shares if our partners&#146; holdings
of Accenture SCA Class I common shares and Accenture Canada Holdings exchangeable shares are redeemed or exchanged for newly issued Class A common shares on a one-for-one basis); and</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">67,201,382 Class A common shares underlying restricted share units that are fully vested or are scheduled to fully vest prior
to the end of the current fiscal year. Information in the prospectus also reflects the assumed issuance of an equivalent number of Accenture SCA Class I common shares to be issued to Accenture Ltd in connection with these restricted share
units.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="96%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Class A common shares to be outstanding immediately following the offering and the other information in the prospectus based
thereon does not reflect:</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">17,250,000 Class A common shares issuable upon exercise of the underwriters&#146; overallotment option;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6,695,091 Class A common shares underlying restricted share units that will not fully vest prior to the end of the current
fiscal year; and</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">98,995,000 Class A common shares issuable pursuant to options.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">See &#147;Accenture Organizational Structure&#148; and &#147;Management&#151;Employee Awards.&#148;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Use of proceeds:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="558" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By Accenture Ltd</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accenture Ltd intends to use the net proceeds from
<BR>
the offering to subscribe for Accenture SCA Class I
<BR>
common shares.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=3 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=3><FONT SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By Accenture SCA</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accenture SCA intends to use the proceeds it
<BR>
receives from the issuance of its Class I common
<BR>
shares as follows:</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" ALIGN="left"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
&nbsp;approximately $839 million for costs and
<BR>
expenses incurred in connection with our
<BR>
transition to a corporate structure;</FONT></TD>
</TR>
</TABLE>


<BR>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="42%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; approximately $245 million to repay amounts outstanding under our revolving credit facilities; and</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="42%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; the balance for working capital, which previously was funded by our partners, and for general corporate purposes.</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>

<TABLE ALIGN="center" WIDTH="0" CELLSPACING=0 CELLPADDING=0>
<TR><TD> </TD></TR>
</TABLE>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="42%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Voting rights</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Each Class A common share and each Class X
<BR>
common share will entitle its holder to one vote per
<BR>
share on all matters submitted to a vote of
<BR>
shareholders of Accenture Ltd. Immediately
<BR>
following the offering, our partners will own or
<BR>
control Class A common shares and Class X
<BR>
common shares representing, in the aggregate,
<BR>
approximately 82% of the voting interest in
<BR>
Accenture Ltd, or approximately 80% if the
<BR>
underwriters exercise their overallotment option in
<BR>
full. All of our partners who hold Class A or Class X
<BR>
common shares have entered into a voting agreement
<BR>
that requires them to vote as a group with respect to
<BR>
all matters voted upon by shareholders of Accenture
<BR>
Ltd. For a discussion of the voting agreement, see
<BR>
&#147;Certain Relationships and Related Transactions&#151;
<BR>
Voting Agreement.&#148; Our partners will effectively
<BR>
control us for as long as they continue to hold a
<BR>
significant block of voting rights.</FONT></DIV>
</TD>
</TR>
</TABLE>


<BR>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" ALIGN="left"> </TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="42%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Dividend and distribution policy</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We currently do not anticipate that Accenture Ltd or Accenture SCA will pay dividends.</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="42%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Transfer restrictions</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center">

<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The equity interests that our partners own are subject to transfer restrictions that generally restrict sales for one year and then permit sales in increasing amounts
over the subsequent seven years. For a discussion of the terms of the transfer restrictions, see &#147;Certain Relationships and Related Transactions&#151;Voting Agreement&#148; and &#147;&#151;Accenture SCA Transfer Rights Agreement&#148; and
&#147;Risk Factors&#151;Risks That Relate to Your Ownership of Our Class A Common Shares&#151;Our share price may decline due to the large number of Class A common shares eligible for future sale.&#148;</FONT></DIV>

</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="42%" ALIGN="left">

<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">New York Stock Exchange symbol</FONT></DIV>

</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#147;ACN&#148;</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="46%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Risk factors</FONT></DIV>
</TD>
<TD WIDTH="53%"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">For a discussion of some of the factors you should consider before buying our Class A common shares, see &#147;Risk Factors.&#148;</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Recent Developments</B></FONT></DIV>

<DIV ALIGN="left">


</DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Revenues</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our revenues increased by 15% to $3,519 million in the three months ended May 31, 2001, compared with $3,062 million in
the three months ended May 31, 2000. Our revenues before reimbursements increased by 15% to $2,953 million in the three months ended May 31, 2001, compared with $2,561 million in the three months ended May 31, 2000. In local currency terms, revenues
before reimbursements grew by 20% in the three months ended May 31, 2001 as compared to the three months ended May 31, 2000. This increase was driven primarily by an increase in our chargeable hour volume.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Communications &amp; High Tech global market unit achieved revenues before reimbursements of $815 million in the
three months ended May 31, 2001, an increase of 8% over the three months ended May 31, 2000, primarily due to growth in our Communications industry group in North America and the Electronics &amp; High Tech industry group in Europe. Our Financial
Services global market unit achieved revenues before reimbursements of $766 million in the three months ended May 31, 2001, an increase of 15% over the three months ended May 31, 2000, primarily due to strong growth in the Banking industry group in
Europe and North America. Our Products global market unit achieved revenues before reimbursements of $579 million in the three months ended May 31, 2001, an increase of 16% over the three months ended May 31, 2000, primarily due to strong growth in
our Retail industry group in Europe and our Consumer Goods &amp; Services industry group in Europe, Japan and Australia/New Zealand. Our Resources global market unit achieved revenues before reimbursements of $503 million in the three months ended
May 31, 2001, an increase of 17% over the three months ended May 31, 2000, primarily due to strong growth in all of our industry groups in North America. Our Government global market unit achieved revenues before reimbursements of $277 million in
the three months ended May 31, 2001, an increase of 40% over the three months ended May 31, 2000, primarily driven by strong growth in North America and Europe.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Cost of Services</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services was $2,132 million in the three months ended May 31, 2001, an increase of $291 million, or 16%, over
the three months ended May 31, 2000, and an increase as a percentage of revenues from 60% in the three months ended May 31, 2000 to 61% in the three months ended May 31, 2001. Cost of services before reimbursable expenses was $1,566 million in the
three months ended May 31, 2001, an increase of $226 million, or 17%, over the three months ended May 31, 2000 and an increase as a percentage of revenues before reimbursements from 52% in the three months ended May 31, 2000 to 53% in the three
months ended May 31, 2001. This increase is primarily the result of lower chargeability in the three months ended May 31, 2001, as compared to the three months ended May 31, 2000, partially offset by lower employee compensation costs resulting from
the promotion of 1,286 employees to partner effective September 1, 2000.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Operating Income</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income, excluding one-time charges of $588 million for rebranding and restructuring costs to rename our
organization, as well as other costs to transition to a corporate structure, was $703 million in the three months ended May 31, 2001, an increase of $9 million or 1% over the three months ended May 31, 2000, a decrease as a percentage of revenues
from 23% in the three months ended May 31, 2000 to 20% in the three months ended May 31, 2001, and a decrease as a percentage of revenues before reimbursements from 27% in the three months ended May 31, 2000 to 24% in the three months ended May 31,
2001.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>Gain (Loss) on Investments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A $9 million loss on investments was recorded in the three months ended May 31, 2001, compared to a gain of $266 million
during the three months ended May 31, 2000. This loss represents other-than- temporary impairment investment write-downs of $40 million and unrealized investment losses recognized according to SFAS 133 of $11 million, offset by a $42 million gain on
the sale of marketable securities.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Provision for Taxes</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes were $285 million in the three months ended May 31, 2001, an increase of $204 million over the three months ended
May 31, 2000. This increase was due to the tax costs of our transition to a corporate structure, net of an adjustment for deferred taxes.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Partnership Income Before Partnership Distributions</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership income before partner distributions, excluding one-time charges of $588 million for rebranding and
restructuring costs and $216 million for related taxes, was $613 million in the three months ended May 31, 2001, a decrease of $289 million, or 32% from the three months ended May 31, 2000.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>Summary Financial Data</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following unaudited summary historical and pro forma financial information should be read in conjunction with
&#147;Selected Financial Data,&#148; &#147;Pro Forma Combined Financial Information,&#148; our historical combined financial statements and related notes included elsewhere in this prospectus and &#147;Management&#146;s Discussion and Analysis of
Financial Condition and Results of Operations.&#148;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="742" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Historical</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma
<BR>
as adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Historical</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma
<BR>
as adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended August 31,</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended
<BR>
August 31,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months ended</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months
<BR>
ended</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1996</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1997</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February&nbsp;29,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February&nbsp;28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February&nbsp;28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=28 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions, except share and per share data)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Income Statement Data:</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Revenues:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$4,942</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$6,275</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$8,215</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$9,550</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$9,752</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$9,752</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$4,685</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$5,713</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$5,713</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">768</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,172</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,425</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,529</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">799</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,710</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">7,447</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">9,640</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11,079</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11,540</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11,540</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,484</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,622</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,622</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating expenses:*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Cost of services:*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services before reimbursable expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,678</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,470</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,700</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,457</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,486</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,138</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,660</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,943</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,508</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursable expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">768</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,172</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,425</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,529</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">799</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,446</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,642</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,125</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,986</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">7,274</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">7,926</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,459</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,852</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,417</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">532</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">611</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">696</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">790</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">883</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,192</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">421</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">453</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">674</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">659</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">819</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,036</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,271</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,297</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,441</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">640</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">766</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">799</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Reorganization and rebranding costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,637</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,072</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">7,857</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">9,047</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">9,454</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">10,559</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,520</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,260</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,079</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating income*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,073</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,375</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,783</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,032</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,086</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">981</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">964</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,362</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">543</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Gain on investments, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">92</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">573</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">573</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">268</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Interest income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">60</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">67</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">67</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">28</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">42</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">42</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Interest expense</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(16</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(19</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(17</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(27</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(24</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(35</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(12</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(10</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(20</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Other income (expense)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(4</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(6</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(5</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">51</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">51</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Equity in losses of affiliates</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(6</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(46</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(46</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(7</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(42</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(42</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Income before taxes*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,053</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,360</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,759</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,146</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,707</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,591</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,260</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,565</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">736</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes (1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">116</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">118</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">74</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">123</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">243</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">636</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">115</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">135</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">294</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Income before minority interest and cumulative
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;change in accounting*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">937</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,242</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,685</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,023</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,464</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">955</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,145</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,430</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">442</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Minority interest</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">573</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">265</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Income before cumulative change in accounting*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">937</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,242</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,685</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,023</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,464</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$382</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,145</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,430</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$177</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Cumulative effect of accounting change</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">188</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner distributions* (2)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;937</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,242</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,685</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$2,023</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$2,464</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,145</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,618</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Earnings Per Share Data:</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Earnings per share</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;basic</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.97</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;diluted</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.96</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Weighted average number of shares</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;basic</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">394,536,601</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">395,875,619</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;diluted</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">990,668,914</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">991,673,178</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="9%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Historical information excludes payments for partner distributions.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes is not the same as income taxes of a corporation. For the historical periods, we operated through
partnerships in many countries. Therefore, we generally were not subject to income taxes in those countries. Taxes related to income earned by our partnerships were the responsibility of the individual partners. In other countries, we operated
through corporations, and in these circumstances we were subject to income taxes.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(2)</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner distributions is not comparable to net income of a corporation similarly determined.
Partnership income in historical periods is not executive compensation in the customary sense because partnership income is comprised of distributions of current earnings. Accordingly, compensation and benefits for services rendered by partners have
not been reflected as an expense in our historical combined financial statements.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="671" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=9 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Historical</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=3 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Historical</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma as
<BR>
adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=9 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>As of August 31,</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH ROWSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>As of
<BR>
February 29,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH ROWSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>As of
<BR>
February 28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>As of
<BR>
February 28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1996</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1997</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=16 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Balance Sheet Data:</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Cash and cash equivalents</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;438</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;325</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;736</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,111</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,271</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,018</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,342</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,950</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Working capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">280</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">175</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">531</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">913</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,015</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">860</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(82</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Total assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;2,323</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;2,550</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;3,704</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,615</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,451</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,326</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,474</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,246</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">226</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">192</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">157</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">127</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">99</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">127</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">97</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">97</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Total partners&#146; capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">696</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">761</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,507</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,208</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,368</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,473</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,948</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Shareholders&#146; equity</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">176</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx2"></A>
RISK FACTORS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should carefully consider each of the risks described below and all of the other information in this prospectus
before deciding to invest in our Class A common shares.</I></FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Risks That Relate to Our Business</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>A significant or prolonged economic downturn could have a material adverse effect on our results of operations.</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our results of operations are affected by the level of business activity of our clients, which in turn is affected by
the level of economic activity in the industries and markets that they serve. In addition, our business tends to lag behind economic cycles in an industry. A decline in the level of business activity of our clients could have a material adverse
effect on our revenues and profit margin. We are now seeing some evidence of an economic slowdown in some markets, including a reduction in capital expenditures and technology and associated discretionary spending by our clients, particularly in the
United States. This has caused a reduction in our growth rate in the Americas and in our Communications &amp; High Tech, Financial Services and Products global market units in the third quarter of this fiscal year as compared with the first half of
this fiscal year. Revenues before reimbursements for the third quarter of 2001 for our Communications &amp; High Tech, Financial Services and Products global market units increased by 8%, 15% and 16%, respectively, over the third quarter of 2000,
while revenues before reimbursements for the first half of 2001 for these market units increased by 27%, 19% and 25%, respectively, over the first half of 2000. Revenues before reimbursements for the third quarter of 2001 for our Americas geographic
area increased by 10% over the third quarter of 2000, while revenues before reimbursements for the first half of 2001 for this geographic area increased by 27% over the first half of 2000. We expect continued growth in revenues in the fourth quarter
of this fiscal year, though at a slower rate of growth than in the third quarter. We will implement cost-savings initiatives to manage our expenses as a percentage of revenues. However, we may not be able to reduce the rate of growth in our costs on
a timely basis or control our costs to maintain our margins.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Our business will be negatively affected if we are not able to anticipate and keep pace with rapid changes in technology or if growth in the use of technology in
business is not as rapid as in the past.</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our success will depend, in part, on our ability to develop and implement management and technology solutions that
anticipate and keep pace with rapid and continuing changes in technology, industry standards and client preferences. We may not be successful in anticipating or responding to these developments on a timely basis, and our ideas may not be successful
in the marketplace. Also, products and technologies developed by our competitors may make our service or product offerings uncompetitive or obsolete. Any one of these circumstances could have a material adverse effect on our ability to obtain and
successfully complete important client engagements.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our business is also dependent, in part, upon continued growth in the use of technology in business by our clients and
prospective clients and their customers and suppliers. If the growth in the use of technology does not continue, demand for our services may decrease. Use of new technology for commerce generally requires the understanding and acceptance of a new
way of conducting business and exchanging information. Companies that have already invested substantial resources in traditional means of conducting commerce and exchanging information may be particularly reluctant or slow to adopt a new approach
that may make some of their existing personnel and infrastructure obsolete.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>We may face damage to our professional reputation or legal liability if our clients are not satisfied with our services.</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a professional services firm, we depend to a large extent on our relationships with our clients and our reputation
for high-caliber professional services and integrity to attract and retain clients. As a result, if a client is not satisfied with our services or products, including those of subcontractors we employ, it may be more damaging in our business than in
other businesses. Moreover, if we fail to meet our contractual obligations or fail to disclose our financial or other arrangements with our alliance partners, we could be subject to legal liability or loss of client relationships. Our contracts
typically include provisions to limit our exposure to legal claims relating to our services and the applications we develop, but these provisions may not protect us or may not be enforceable in all cases.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Our services or products may infringe upon the intellectual property rights of others.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We cannot be sure that our services and products, or the products of others that we offer to our clients, do not
infringe on the intellectual property rights of third parties, and we may have infringement claims asserted against us or against our clients. These claims may harm our reputation, cost us money and prevent us from offering some services or
products. Historically in our contracts, we have generally agreed to indemnify our clients for any expenses or liabilities resulting from claimed infringements of the intellectual property rights of third parties. In some instances, the amount of
these indemnities may be greater than the revenues we receive from the client. Any claims or litigation in this area, whether we ultimately win or lose, could be time-consuming and costly, injure our reputation or require us to enter into royalty or
licensing arrangements. We may not be able to enter into these royalty or licensing arrangements on acceptable terms. Depending on the circumstances, we may be required to grant a specific client greater rights in intellectual property developed in
connection with an engagement than we otherwise do, in which case we seek to cross license the use of the intellectual property. However, in very limited situations, we forego rights to the use of intellectual property we help create and in these
cases, this limits our ability to reuse that intellectual property for other clients. Any limitation on our ability to provide a service or product could cause us to lose revenue-generating opportunities and require us to incur additional expenses
to develop new or modified solutions for future projects.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Our engagements with clients may not be profitable.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Unexpected costs or delays could make our contracts unprofitable.&nbsp;&nbsp;&nbsp;&nbsp;</I>When making proposals
for engagements, we estimate the costs and timing for completing the projects. These estimates reflect our best judgment regarding the efficiencies of our methodologies and professionals as we plan to deploy them on projects. Any increased or
unexpected costs or unanticipated delays in connection with the performance of these engagements, including delays caused by factors outside our control, could make these contracts less profitable or unprofitable, which would have an adverse effect
on our profit margin. While some of our contracts are time-and-materials and others are fixed-price contracts, the risks associated with both types of contracts are often similar. Our failure to meet a client&#146;s expectations in either type of
contract may result in an unprofitable engagement.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Our contracts can be terminated by our clients with short notice.&nbsp;&nbsp;&nbsp;&nbsp;</I>Our clients typically
retain us on a non-exclusive, engagement-by-engagement basis, rather than under exclusive long-term contracts. Approximately 75% of our consulting engagements are less than twelve months in duration. The majority of our contracts can be terminated
by our clients with short notice and without significant penalty. The advance notice of termination required for contracts of shorter duration and lower revenue is typically 30 days. Longer-term, larger and more complex contracts generally require a
longer notice period for termination and may include an early termination charge to be paid to us. Additionally, large client projects involve multiple engagements or stages, and there is a risk that a client may choose not to retain us for
additional stages of a project or that a client will cancel or delay additional planned engagements. These terminations, cancellations or delays could result from factors unrelated to our work product or the


progress of the project, but could be related to business or financial conditions of the client or the economy generally. When contracts are terminated, we lose the associated revenues and we may not be able to eliminate associated costs in a timely
manner.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We may fail to collect amounts extended to clients.</I>&nbsp;&nbsp;&nbsp;&nbsp; In limited circumstances we extend
financing to our clients. A client must meet established criteria to receive financing. In the rare event that these criteria are waived, approval by senior levels of our management is required. We have extended $170 million of financing as of
February 28, 2001. We do not expect financing levels to exceed $250 million, which is in line with historical levels, over the next 12 months.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>If our affiliates, alliances or venture capital portfolio companies do not succeed, we may not be successful in
implementing our growth strategy.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have invested a substantial amount of time and resources in our affiliates, alliances and venture capital portfolio
companies, and we plan to make substantial additional investments in the future. We made investments of $287 million in the 12 months ended May 31, 2001. The value of affiliate and venture capital financial commitments at May 31, 2001 was $19
million and $48 million, respectively. We anticipate making additional investments of $300 million to $400 million in the 12 months ended May 31, 2002. In addition, we expect to spend over $125 million over the same period in payroll and other
expenses in support of alliance agreements. The benefits we anticipate from these relationships are an important component of our growth strategy. If these relationships do not succeed, we may lose our investments or fail to obtain the benefits we
hope to derive from them. Similarly, we may be adversely affected by the failure of one or more of our affiliates or alliances, which could lead to reduced marketing exposure, diminished sales and a decreased ability to develop and gain access to
solutions. Moreover, because most of our alliance relationships are nonexclusive, our alliance partners are able to form closer or preferred arrangements with our competitors. In addition, our venture capital activities may suffer from the poor
performance of the portfolio companies in which we invest or from our inability to obtain attractive returns on our investments or investments or to monetize these investments at all. These losses or failures could have a material and adverse impact
on our growth strategy, which, in turn, could adversely affect our financial condition and results of operations.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Our global operations pose complex management, foreign currency, legal, tax and economic risks, which we may not
adequately address.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have offices in 46 countries around the world. In fiscal 2000, approximately 54% of our revenues were attributable to
activities in the Americas, 38% of our revenues were attributable to our activities in Europe, the Middle East, Africa and India, and 8% of our revenues were attributable to our activities in the Asia/Pacific region. As a result, we are subject to a
number of risks, including:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the absence in some jurisdictions of effective laws to protect our intellectual property rights;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">multiple and possibly overlapping and conflicting tax laws;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">restrictions on the movement of cash;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the burdens of complying with a wide variety of national and local laws;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">political instability;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">currency fluctuations;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">longer payment cycles;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">restrictions on the import and export of certain technologies;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">price controls or restrictions on exchange of foreign currencies; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">trade barriers.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>The consulting, information technology and outsourcing markets are highly competitive, and we may not be able to
compete effectively.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consulting, information technology and outsourcing markets in which we operate include a large number of
participants and are highly competitive. Our primary competitors include:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">large accounting, consulting and other professional service firms;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">information technology service providers;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">application service providers;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">packaged software vendors and resellers; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">service groups of computer equipment companies.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">In addition, a client may choose to use its own resources, rather than engage an outside firm for the types of services we provide.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our marketplace is experiencing rapid changes in its competitive landscape. Some of our competitors have sought access
to public and private capital and others have merged or consolidated with better-capitalized partners. These changes may create larger and better-capitalized competitors with enhanced abilities to compete for market share generally and our clients
specifically, in some cases, through significant economic incentives to clients to secure contracts. These competitors may also be better able to compete for skilled professionals by offering them large compensation incentives. In addition, one or
more of our competitors may develop and implement methodologies which result in superior productivity and price reductions without adversely affecting the competitors&#146; profit margins. Any of these circumstances may impose additional pricing
pressure on us, which would have an adverse effect on our revenues and profit margin.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>If we are unable to attract and retain employees in appropriate numbers, we will not be able to compete effectively and
will not be able to grow our business.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our success and ability to grow are dependent, in part, on our ability to hire and retain large numbers of talented
people. We hired approximately 17,000 new employees in each of fiscal years 2000 and 2001. The cumulative rate of turnover among our employees was 19% for fiscal year 1999, 22% for fiscal year 2000 and, on an annualized basis, approximately 14% for
the nine months ended May 31, 2001, excluding involuntary terminations. The inability to attract qualified employees in sufficient numbers to meet demand or the loss of a significant number of our employees could have a serious negative effect on
us, including our ability to obtain and successfully complete important client engagements and thus maintain or increase our revenues. On June 7, 2001, we announced an initiative to reduce our staff in certain parts of the world, in certain skill
groups and in some support positions. This initiative may adversely affect employee recruiting and retention.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We regularly benchmark our employee compensation to the marketplace in all countries in which we operate. We make annual
adjustments to remain competitive based on the individual markets and the demand for top talent. We also adjust compensation levels within some of our larger countries, such as the United States and the United Kingdom, to reflect different labor
pools. In some cases these increases are greater than the general rate of inflation due to other market forces, including the demand for technical talent. To attract and retain the number of employees we need to grow our business, we may have to
increase our compensation levels in the future. This would adversely affect our operating margins.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Our transition to a corporate structure may adversely affect our ability to recruit, retain and motivate our partners
and other key employees, which in turn could adversely affect our ability to compete effectively and to grow our business.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We face additional retention risk because of our transition to a corporate structure. Our partners received our equity
in lieu of the interests in the partnerships and corporations that they previously held.



Our partners, on average, received approximately 329,000 Accenture Ltd Class A common shares, Accenture SCA Class I common shares or Accenture Canada Holdings exchangeable shares, and the median number of Accenture Ltd Class A common shares,
Accenture SCA Class I common shares or Accenture Canada Holdings exchangeable shares received by our partners was approximately 355,000. Their ownership of this equity is not dependent upon their continued employment. While these equity interests
are subject to transfer restrictions, the transfer restrictions lapse over time, may not be enforceable in all cases and can be waived. See &#147;Certain Relationships and Related Transactions&#151;Voting Agreement&#148; and &#147;&#151;Accenture
SCA Transfer Rights Agreement.&#148; In addition, in connection with our transition to a corporate structure, our partners have accepted significant reductions in their cash compensation. The substitution of equity, equity-based incentives and other
employee benefits in lieu of higher cash compensation may not be sufficient to retain these individuals in the near or long term. There is no guarantee that the non-competition agreements we have entered into with our partners are sufficiently broad
to prevent them from leaving us for our competitors or other opportunities or that these agreements will be enforceable in all cases.<B></B></FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the offering and our transition to a corporate structure, our non-partner employees will also receive
equity incentives. These incentives to attract, retain and motivate employees may not be as effective as the opportunity, which existed prior to our transition to a corporate structure, to hold a partnership interest in Accenture. If these
incentives are not effective, our ability to hire, retain and motivate skilled professionals will suffer.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>We have only a limited ability to protect our intellectual property rights, which are important to our
success.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our success depends, in part, upon our ability to protect our proprietary methodologies and other intellectual property.
Existing laws of some countries in which we provide services or products may offer only limited protection of our intellectual property rights. We rely upon a combination of trade secrets, confidentiality policies, nondisclosure and other
contractual arrangements, and patent, copyright and trademark laws to protect our intellectual property rights. The steps we take in this regard may not be adequate to prevent or deter infringement or other misappropriation of our intellectual
property, and we may not be able to detect unauthorized use or take appropriate and timely steps to enforce our intellectual property rights.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Risks That Relate to Our Financial Results and Our Lack of Experience in Managing a Public Company</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Our profitability will suffer if we are not able to maintain our prices and utilization rates and control our
costs.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our profit margin, and therefore our profitability, is largely a function of the rates we are able to charge for our
services and the utilization rate, or chargeability, of our professionals. Accordingly, if we are not able to maintain the rates we charge for our services or an appropriate utilization rate for our professionals, we will not be able to sustain our
profit margin and our profitability will suffer. The rates we are able to charge for our services are affected by a number of factors, including:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">our clients&#146; perception of our ability to add value through our services;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">competition;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">introduction of new services or products by us or our competitors;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">pricing policies of our competitors; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">general economic conditions.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> Our utilization rates are also affected by a number of factors, including:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">seasonal trends, primarily as a result of our hiring cycle and holiday and summer vacations;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">our ability to transition employees from completed projects to new engagements;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">our ability to forecast demand for our services and thereby maintain an appropriate headcount; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">our ability to manage attrition.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our profitability is also a function of our ability to control our costs and improve our efficiency. As we increase the
number of our professionals and execute our strategy for growth, we may not be able to manage a significantly larger and more diverse workforce, control our costs or improve our efficiency.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Our quarterly revenues, operating results and profitability will vary from quarter to quarter, which may result in
increased volatility of our share price.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our quarterly revenues, operating results and profitability have varied in the past and are likely to vary significantly
from quarter to quarter, making them difficult to predict. This may lead to volatility in our share price. The factors that are likely to cause these variations are:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">seasonality;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the business decisions of our clients regarding the use of our services;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the timing of projects and their termination;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the timing and extent of gains and losses on our portfolio of investments;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the timing of income or loss from affiliates;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">our ability to transition employees quickly from completed projects to new engagements;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the introduction of new products or services by us or our competitors;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">changes in our pricing policies or those of our competitors;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">our ability to manage costs, including personnel costs and support services costs;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">costs related to possible acquisitions of other businesses; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">global economic conditions.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>The historical and pro forma financial information in this prospectus may not permit you to predict our costs of
operations.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The historical financial information in this prospectus does not reflect the added costs we expect to incur as a public
company or the resulting changes that have occurred in our capital structure and operations. Because we historically operated through partnerships in many countries prior to our transition to a corporate structure, we paid little or no taxes on
profits and no salaries to our partners who are now our employees. In preparing our pro forma financial information we deducted and charged to earnings estimated income taxes based on an estimated tax rate, which may be different from our actual tax
rate in the future, and estimated salaries, payroll taxes and benefits for our partners who became our employees after our transition to a corporate structure. The estimates we used in our pro forma financial information may not be similar to our
actual experience as a public corporation. For more information on our historical combined financial statements and pro forma financial information, see &#147;Pro Forma Combined Financial Information&#148; and our historical combined financial
statements and related notes included elsewhere in this prospectus.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Our management has no experience in managing a public company.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our management team has historically operated our business as a privately owned series of partnerships and corporations.
The individuals who now constitute our management have never had responsibility for managing a publicly traded company.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>We expect to record substantial net losses in the fiscal quarters ended May 31, 2001 and August 31, 2001 due to a
number of nonrecurring items relating to our transition to a corporate structure and the offering.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We expect to record a net loss in the fiscal quarter ended May 31, 2001 as a result of recognizing one-time charges of
$588 million for rebranding and restructuring costs and $216 million for related taxes, of which $441 million is expected to be paid in cash before December 31, 2001 and the balance will be paid by August 31, 2003 out of cash from operations,
borrowings or other sources. We also expect to record a substantial loss in the quarter ended August 31, 2001 primarily as the result of net nonrecurring compensation cost of approximately $960 million resulting from the grant of restricted share
units in connection with the offering.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Risks That Relate to Your Ownership of Our Class A Common Shares</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>We will continue to be controlled by our partners, whose interests may differ from those of our other
shareholders.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon completion of the offering our partners will own or control shares representing, in the aggregate, an 82% voting
interest in Accenture Ltd, or 80% if the underwriters exercise their overallotment option in full. These shares are subject to a voting agreement, which requires our partners to vote as a group with respect to all matters submitted to shareholders.
Our partners&#146; voting interest in Accenture Ltd may increase to the extent additional employees we name as partners are required to become parties to the voting agreement. See &#147;Certain Relationships and Related Transactions&#151;Voting
Agreement&#148; for a discussion of these voting arrangements.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As long as our partners continue to own or control a significant block of voting rights, they will control us. This will
enable them, without the consent of the public shareholders, to:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">elect the board of directors and remove directors;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">control our management and policies;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">determine the outcome of most corporate transactions or other matters submitted to the shareholders for approval, including
mergers, amalgamations and the sale of all or substantially all of our assets; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">act in their own interest as partners, which may conflict with or not be the same as the interests of shareholders who are
not partners.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furthermore, as a result of a partner matters agreement, our partners will continue to have influence with respect to a
wide variety of matters over which neither shareholders nor employees of a public company typically have input. The partner matters agreement will provide mechanisms for our partners to:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">select, for three to five years after the offering, five partner nominees for election to membership on the board of
directors of Accenture Ltd;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">make a non-binding recommendation to the board of directors of Accenture Ltd through a committee of partners regarding the
selection of a chief executive officer of Accenture Ltd in the event a new chief executive officer is appointed within the first four years after the offering;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">vote on new partner admissions;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">approve the partners&#146; income plan as described below; and</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">hold a non-binding vote with respect to any decision to eliminate or materially change the current practice of allocating
partner compensation on a relative, or &#147;unit,&#148; basis.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the terms of the partner matters agreement, a partners&#146; income committee, consisting of the chief executive
officer and partners he or she appoints, reviews evaluations and recommendations concerning the performance of partners and determines relative levels of income participation, or unit allocation. Based on its review, the committee will prepare a
partners&#146; income plan, which then must be submitted to the partners in a partner matters vote. If the plan is approved by a 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% partner matters vote, it is (1)
subject to the impact on overall unit allocation of determinations by the board of directors or the compensation committee of the board of directors of the unit allocation for the executive officers, binding with respect to the income participation
or unit allocation of all partners other than the principal executive officers of Accenture Ltd (including the chief executive officer), unless otherwise determined by the board of directors and (2) submitted to the compensation committee of the
board of directors as a recommendation with respect to the income participation or unit allocation of the chief executive officer and the other principal executive officers of Accenture Ltd. See &#147;Certain Relationships and Related
Transactions&#151;Partner Matters Agreement.&#148; </FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, immediately following the offering, Accenture Ltd will own shares representing a 58% voting interest in
Accenture SCA and certain of our partners will own shares representing a 42% voting interest in Accenture SCA. Accenture SCA is organized under Luxembourg law, and a 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>
&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% shareholder vote is required to
amend the articles of association of Accenture SCA, liquidate Accenture SCA, sell all or substantially all of the assets of Accenture SCA and to authorize the general partner to increase the issued share capital of Accenture SCA. Luxembourg law
requires a unanimous shareholder vote for a migration of Accenture SCA to a different jurisdiction and for the levying of an assessment on the Accenture SCA shares. Accordingly, there is the possibility that our partners holding an equity interest
in Accenture SCA could block Accenture Ltd from causing Accenture SCA to take any of these actions. See &#147;Accenture Organizational Structure&#148; for a discussion of our organizational structure. </FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Our share price may decline due to the large number of Class A common shares eligible for future
sale.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales of substantial amounts of Accenture Ltd Class A common shares, or the perception of these sales, may adversely
affect the price of the Class A common shares and impede our ability to raise capital through the issuance of equity securities in the future. The number of Class A common shares available for sale in the public market at any time is limited by
United States federal securities laws and by contractual restrictions on transfer. Our partners have agreed with us to comply with the 180-day lock-up between us and the underwriters. We have agreed not to waive this lock-up with our partners prior
to the expiration of the 180 days without the consent of Goldman, Sachs &amp; Co. and Morgan Stanley &amp; Co. Incorporated. In addition, our partners&#146; equity interests are subject to contractual transfer restrictions that generally restrict
sales for one year and then permit sales in increasing amounts over the subsequent seven years. Although these transfer restrictions may be waived generally by us and our partners (for example, if Accenture Ltd would permit its partners to
participate as selling shareholders in an underwritten public offering) and in particular cases by committees of our partners, we have not agreed to any waiver of these restrictions and do not expect to these restrictions will be waived except in
limited circumstances. For a discussion of the terms of the transfer restrictions, see &#147;Certain Relationships and Related Transactions&#151;Voting Agreement&#148; and &#147;&#151;Accenture SCA Transfer Rights Agreement.&#148;</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon consummation of the offering, there will be 394,536,601 Class A common shares outstanding, or 411,786,601 Class A
common shares if the underwriters exercise their overallotment option in full. Of these Class A common shares, 115,000,000 Class A common shares sold in the offering, or 132,250,000 Class A common shares if the underwriters exercise their
overallotment option in full, will be freely transferable without restriction or further registration under the Securities Act of 1933. The remaining 279,536,601 Class A common shares generally will be available for future sale upon the expiration
or waiver of transfer restrictions or, in the case of restricted share units, following delivery of the underlying



Class A common shares. Our partners will also hold 595,462,804 Accenture SCA Class I common shares or Accenture Canada Holdings exchangeable shares that may be redeemed or exchanged on a one-for-one basis for Accenture Ltd Class A common shares. We
expect that these Class A common shares, subject to the expiration or waiver of transfer restrictions, generally will be available for future sale. In addition, options to purchase 98,995,000 Class A common shares will generally become exercisable
over the four or five years following consummation of the offering. We expect that these underlying Class A common shares will be freely transferable without further restriction.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As reflected in the table below, on each of the first eight anniversaries of the consummation of the offering, Class A
common shares held by our partners will become available for sale in significant numbers and Accenture SCA Class I common shares and Accenture Canada Holdings exchangeable shares held by our partners will become redeemable or exchangeable for freely
transferable Class A common shares in significant numbers. Our partners may be more likely to sell all or a portion of their Class A common shares to provide liquidity in response to the reduction in partner compensation in connection with our
transition to a corporate structure or to diversify their portfolios.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="530" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Anniversary
<BR>
of
<BR>
offering</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Number of Class A
<BR>
common shares
<BR>
that become
<BR>
available for sale
<BR>
by our
<BR>
partners(1)</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Percentage of Class A
<BR>
common shares
<BR>
outstanding immediately
<BR>
following the offering that
<BR>
become available for sale(1)</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;80,779,802</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;8%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">121,169,703</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;80,779,802</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;8%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;80,779,802</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;8%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;80,779,802</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;8%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;80,779,802</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;8%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;80,779,802</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;8%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">201,949,506</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20%</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Assumes our partners&#146; holdings of Accenture SCA Class I common shares and Accenture Canada Holdings exchangeable shares
are redeemed or exchanged on a one-for-one basis.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See &#147;Shares Eligible for Future Sale&#148; for a discussion of the Class A common shares that may be sold in the
public market in the future. <B></B></FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>There has been no prior market for the Class A common shares, and they may trade at prices below the initial public
offering price.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The price of the Class A common shares after the offering may fluctuate widely, depending upon many factors, including
our perceived prospects and those of the consulting and technology industries in general, differences between our actual financial and operating results and those expected by investors and analysts, changes in analysts&#146; recommendations or
projections, changes in general economic or market conditions and broad market fluctuations.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>You will experience immediate and substantial dilution in the book value of your Class A common
shares.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The initial public offering price of the Class A common shares will be substantially higher than the pro forma net
tangible book value per share of our Class A common shares. Pro forma net tangible book value represents the amount of our tangible assets on a pro forma basis, less our pro forma total liabilities. As a result, we currently expect that you will
incur immediate dilution of $13.78 per share based upon an assumed initial public offering price of $14.00 per share. For more information, see &#147;Dilution.&#148;</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>We may need additional capital in the future, which may not be available to us. The raising of additional capital may
dilute your ownership in us.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We may need to raise additional funds through public or private debt or equity financings in order to:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">take advantage of opportunities, including more rapid expansion;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> </FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">acquire complementary businesses or technologies;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">develop new services and products; or</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">respond to competitive pressures.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any additional capital raised through the sale of equity may dilute your ownership percentage in us. Furthermore, any
additional financing we may need may not be available on terms favorable to us, or at all.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>We are registered in Bermuda, and a significant portion of our assets are located outside the United States. As a
result, it may not be possible for shareholders to enforce civil liability provisions of the federal or state securities laws of the United States.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are organized under the laws of Bermuda, and a significant portion of our assets are located outside the United
States. It may not be possible to enforce court judgments obtained in the United States against us in Bermuda or in countries, other than the United States, where we have assets based on the civil liability provisions of the federal or state
securities laws of the United States. In addition, there is some doubt as to whether the courts of Bermuda and other countries would recognize or enforce judgments of United States courts obtained against us or our directors or officers based on the
civil liabilities provisions of the federal or state securities laws of the United States or would hear actions against us or those persons based on those laws. We have been advised by our legal advisors in Bermuda that the United States and Bermuda
do not currently have a treaty providing for the reciprocal recognition and enforcement of judgments in civil and commercial matters. Therefore, a final judgment for the payment of money rendered by any federal or state court in the United States
based on civil liability, whether or not based solely on United States federal or state securities laws, would not automatically be enforceable in Bermuda. Similarly, those judgments may not be enforceable in countries, other than the United States,
where we have assets.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Bermuda law differs from the laws in effect in the United States and may afford less protection to
shareholders.</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our shareholders may have more difficulty protecting their interests than would shareholders of a corporation
incorporated in a jurisdiction of the United States. As a Bermuda company, we are governed by the Companies Act 1981 of Bermuda. The Companies Act differs in some material respects from laws generally applicable to United States corporations and
shareholders, including the provisions relating to interested directors, mergers and acquisitions, takeovers, shareholder lawsuits and indemnification of directors. See &#147;Description of Share Capital.&#148;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Bermuda law, the duties of directors and officers of a company are generally owed to the company only.
Shareholders of Bermuda companies do not generally have rights to take action against directors or officers of the company, and may only do so in limited circumstances. Officers of a Bermuda company must, in exercising their powers and performing
their duties, act honestly and in good faith with a view to the best interests of the company and must exercise the care and skill that a reasonably prudent person would exercise in comparable circumstances. Directors have a duty not to put
themselves in a position in which their duties to the company and their personal interests may conflict and also are under a duty to disclose any personal interest in any contract or arrangement with the company or any of its subsidiaries. If a
director or officer of a Bermuda company is found to have breached his duties to that company, he may be held personally liable to the company in respect of that breach of duty. A director may be liable jointly and severally with other directors if
it is shown that the director knowingly engaged in fraud or dishonesty. In cases not involving fraud or dishonesty, the liability of the director will be determined by the Bermuda courts on the basis of their estimation of the percentage of
responsibility of the director for the matter in question, in light of the nature of the conduct of the director and the extent of the causal relationship between his conduct and the loss suffered.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx3"></A>
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This prospectus contains forward-looking statements relating to our operations that are based on our current
expectations, estimates and projections. Words such as &#147;expects,&#148; &#147;intends,&#148; &#147;plans,&#148; &#147;projects,&#148; &#147;believes,&#148; &#147;estimates&#148; and similar expressions are used to identify these forward-looking
statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be
accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. The reasons for this include changes in general economic and political conditions, including fluctuations in exchange
rates, and the factors discussed under the section entitled &#147;Risk Factors.&#148;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx4"></A>
ACCENTURE ORGANIZATIONAL STRUCTURE</B></FONT></DIV>
<DIV ALIGN="left">


</DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd is a Bermuda holding company with no material assets other than Class I and Class II common shares in our
subsidiary, Accenture SCA, a Luxembourg partnership limited by shares. Accenture Ltd&#146;s only business is to hold these shares and to act as the sole general partner of Accenture SCA. As the general partner of Accenture SCA and as a result of
Accenture Ltd&#146;s majority voting interest in Accenture SCA, Accenture Ltd controls Accenture SCA&#146;s management and operations and will consolidate Accenture SCA&#146;s results in its financial statements. We operate our business through
subsidiaries of Accenture SCA. Accenture SCA will reimburse Accenture Ltd for its expenses but will not pay Accenture Ltd any fees.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to our transition to a corporate structure, we operated as a series of related partnerships and corporations under
the control of our partners. In connection with our transition to a corporate structure, our partners have generally exchanged all of their interests in these partnerships and corporations for Accenture Ltd Class A common shares or, in the case of
partners resident in specified countries, Accenture SCA Class I common shares or exchangeable shares issued by Accenture Canada Holdings Inc., an indirect subsidiary of Accenture SCA. Generally, partners who received Accenture SCA Class I common
shares or Accenture Canada Holdings exchangeable shares also received a corresponding number of Accenture Ltd Class X common shares which entitle their holders to vote at Accenture Ltd shareholders&#146; meetings but do not carry any economic
rights.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our transition to a corporate structure has been accounted for as a reorganization at carryover basis as there are no
changes in the rights, obligations or economic interests of our partners upon the exchange of their interests for shares in Accenture Ltd, Accenture SCA or Accenture Canada Holdings except for those applied consistently among our partners or those
resulting from our transition from a series of related partnerships and corporations to a corporate structure. The Accenture SCA Class I common shares and the Accenture Canada Holdings exchangeable shares held by our partners will be treated as a
minority interest in the consolidated financial statements of Accenture Ltd. However, the future exchange and/or redemption of Accenture SCA Class I common shares or Accenture Canada Holdings exchangeable shares will be accounted for at carryover
basis.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None of our partners will be selling shares in the offering, and, immediately following the offering, our partners will
own approximately 82% of the equity in our business, or 80% if the underwriters exercise their overallotment option in full. We will continue to be controlled by our partners following the offering. Upon completion of the offering, our partners will
own or control shares representing, in the aggregate, approximately 82% of the voting interest in Accenture Ltd, or approximately 80% if the underwriters exercise their overallotment option in full. Immediately following the offering, our public
shareholders (including our non-partner employees) will own approximately 18% of the equity in our business, or approximately 20% if the underwriters exercise their overallotment option in full, and will own shares representing approximately 18% of
the voting interest in Accenture Ltd, or approximately 20% if the underwriters exercise their overallotment option in full.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evercore Partners Inc. has acted as our financial advisor in our review of capitalization strategies and
options.</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our organizational structure immediately following the offering will be as shown in the diagram below. The diagram does
not display the subsidiaries of Accenture SCA and does not reflect exercise of the underwriters&#146; overallotment option.</FONT></DIV>

<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B></B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<IMG SRC="g9046890468bblan62.jpg" WIDTH="523" HEIGHT="472"></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Includes non-partner employees.</FONT></DIV>
</TD>
</TR>
</TABLE>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(2)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Generally consists of our partners in countries other than Australia, Canada, Denmark, France, Italy, New Zealand, Norway,
Spain, Sweden and the United States.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(3)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Generally consists of our partners in Australia, Canada, Denmark, France, Italy, New Zealand, Norway, Spain, Sweden and the
United States. Our partners in Canada and New Zealand do not hold Accenture Ltd Class A common shares or Accenture SCA Class I common shares but instead hold Accenture Canada Holdings exchangeable shares. Each of these exchangeable shares is
exchangeable at the option of the holder for an Accenture Ltd Class A common share on a one-for-one basis and entitles its holder to receive distributions equal to any distributions to which an Accenture Ltd Class A common share entitles its
holder.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We intend to make all distributions to all of our equity holders pro rata based on economic ownership. Based on the
shares outstanding immediately after the offering and assuming no exercise of the underwriters&#146; overallotment option, our public shareholders would receive approximately 18% of any distribution.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Class A common share and each Class X common share of Accenture Ltd entitles its holder to one vote on all matters
submitted to a vote of shareholders of Accenture Ltd. The holder of a Class X common share is not, however, entitled to receive dividends or to receive payments upon a liquidation of Accenture Ltd.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Class I common share and each Class II common share of Accenture SCA entitles its holder to one vote on all matters
submitted to a vote of shareholders of Accenture SCA. Each Accenture SCA Class II common share entitles Accenture Ltd to receive a dividend or liquidation payment equal to 10% of any dividend or liquidation payment to which an Accenture SCA Class I
common share entitles its holder. Accenture Ltd holds all of the Class II common shares of Accenture SCA.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to contractual transfer restrictions, Accenture SCA is obligated, at the option of the holder, to redeem any
outstanding Accenture SCA Class I common share at any time at a redemption price per share generally equal to the market price of an Accenture Ltd Class A common share at the time of the redemption. Accenture SCA may, at its option, pay this
redemption price with cash or by delivering Accenture Ltd Class A common shares on a one-for-one basis. In addition, each of our partners in the United States, Australia and Norway has agreed that we may cause that partner to exchange that
partners&#146; Accenture SCA Class I common shares for Accenture Ltd Class A common shares on a one-for-one basis if Accenture Ltd holds more than 40% of the issued share capital of Accenture SCA and we receive a satisfactory opinion from counsel or
a professional tax advisor that such exchange should be without tax cost to that partner. This one-for-one redemption price and exchange ratio will be adjusted if Accenture Ltd holds more than a <I>de minimis </I>amount of assets (other than its
interest in Accenture SCA and assets it holds only transiently prior to contributing them to Accenture SCA) or incurs more than a <I>de minimis </I>amount of liabilities (other than liabilities for which Accenture SCA has a corresponding liability
to Accenture Ltd). Accenture Ltd does not intend to hold any material assets other than its interest in Accenture SCA or to incur any material liabilities such that this one-for-one redemption price and exchange ratio would require adjustment. In
order to maintain Accenture Ltd&#146;s economic interest in Accenture SCA, Accenture SCA will issue common shares to Accenture Ltd each time additional Accenture Ltd Class A common shares are issued.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders of Accenture Canada Holdings exchangeable shares may exchange their shares for Accenture Ltd Class A common
shares at any time on a one-for-one basis. Each exchangeable share of Accenture Canada Holdings entitles its holder to receive distributions equal to any distributions to which an Accenture Ltd Class A common share entitles its holder.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd may, at its option, redeem any Class X common share for a redemption price equal to the par value of the
Class X common share, or $0.0000225 per share. Accenture Ltd may not, however, redeem any Class X common share of a holder if such redemption would reduce the number of Class X common shares held by that holder to a number that is less than the
number of Accenture SCA Class I common shares or Accenture Canada Holdings exchangeable shares held by that holder, as the case may be. Each time an Accenture SCA Class I common share or an Accenture Canada Holdings exchangeable share is redeemed or
exchanged, Accenture Ltd intends to redeem an Accenture Ltd Class X common share so that the aggregate number of Class X common shares outstanding at any time does not exceed the aggregate number of Accenture SCA Class I common shares and Accenture
Canada Holdings exchangeable shares outstanding.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should read &#147;Risk Factors&#151;Risks That Relate to Your Ownership of Our Class A Common Shares&#151;We will
continue to be controlled by our partners, whose interests may differ from those of our other shareholders,&#148; &#147;Certain Relationships and Related Transactions&#148; and &#147;Description of Share Capital&#148; for additional information
about our corporate structure and the risks posed by the structure.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx5"></A>
USE OF PROCEEDS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We estimate that the net proceeds to Accenture Ltd from the offering, at an assumed public offering price of $14.00 per
Class A common share and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us, will be approximately $1,516 million, or $1,746 million if the underwriters exercise their overallotment option
in full.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd intends to use the net proceeds from the offering to subscribe for Accenture SCA Class I common
shares.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture SCA intends to use the proceeds it receives from the issuance of its Class I common shares as
follows:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">approximately $839 million for costs and expenses incurred in connection with our transition to a corporate
structure;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">approximately $245 million to repay amounts outstanding under our revolving credit facilities; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the balance for working capital, which previously was funded by our partners, and for general corporate purposes.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The costs we anticipate incurring in connection with our transition to a corporate structure include indirect taxes,
such as capital and stamp duty imposed on transfers of assets among our subsidiaries; income taxes imposed on transfers of assets and liabilities among our subsidiaries; and income taxes relating to mandatory changes in tax accounting
methods.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We expect that loans under our revolving credit facilities will be provided at the prime rate, or at the London
interbank offered rate plus a spread which will vary according to a pricing grid, and that these facilities will be subject to annual commitment fees. Please see &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of
Operations&#151;Liquidity and Capital Resources&#148; for a description of the terms of these facilities.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pending specific application of the net proceeds, we intend to invest them in short-term marketable
securities.</FONT></DIV>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<A NAME="468tx6"></A>
DIVIDEND POLICY</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We currently do not anticipate that Accenture Ltd or Accenture SCA will pay dividends.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We may from time to time enter into financing agreements that contain financial covenants and restrictions, some of
which may limit the ability of Accenture Ltd and Accenture SCA to pay dividends. See &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations&#151;Liquidity and Capital Resources.&#148;</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Future dividends on the Class A common shares of Accenture Ltd, if any, will be at the discretion of its board of
directors and will depend on, among other things, our results of operations, cash requirements and surplus, financial condition, contractual restrictions and other factors that the board of directors may deem relevant.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx7"></A>
CAPITALIZATION</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth our combined capitalization as of February 28, 2001:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">on a historical combined basis;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">on a pro forma combined basis giving effect to the pro forma adjustments described under &#147;Pro Forma Combined Financial
Information&#148;; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">on a pro forma combined basis giving effect to the pro forma adjustments described under &#147;Pro Forma Combined Financial
Information&#148; and as adjusted to reflect our sale in the offering of 115,000,000 Class A common shares at an assumed public offering price of $14.00 per share, after deducting estimated underwriting discounts and commissions and estimated
offering expenses payable by us.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This table should be read in conjunction with our historical combined financial statements and related notes, &#147;Pro
Forma Combined Financial Information&#148; and &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations,&#148; appearing elsewhere in this prospectus.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=7 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>As of February 28, 2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Historical</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro
<BR>
forma</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma
<BR>
as adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=7 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Cash and cash equivalents</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,342</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;519</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;1,950</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Short-term bank borrowings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;213</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;213</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;213</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Current portion of long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">30</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">30</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">30</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">97</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">97</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">97</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Partners&#146; capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,948</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Shareholders&#146; equity:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred shares: 2,000,000,000 shares authorized</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A common shares, par value $0.0000225 per share,
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,000,000,000 shares authorized, 212,335,219 shares issued and
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outstanding pro forma; 327,335,219 shares issued and outstanding
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;pro forma as adjusted</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class X common shares, par value $0.0000225 per share,
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,000,000,000 shares authorized, 591,161,473 shares issued and
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outstanding pro forma; 591,161,473 shares issued and outstanding
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;pro forma as adjusted</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted share units (related to Class A common shares),
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73,896,473 units issued and outstanding</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,035</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">11</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,264</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Retained earnings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,098</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(1,973</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Deferred compensation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(94</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accumulated other comprehensive income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(56</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(56</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders&#146; equity</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(1,143</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">176</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
capitalization</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,288</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;(803</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;516</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx8"></A>
DILUTION</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of February 28, 2001, our pro forma net tangible book value was $(1,234 million), or approximately $(4.41) per
Accenture Ltd Class A common share. Pro forma net tangible book value per Accenture Ltd Class A common share represents pro forma total combined tangible assets less pro forma total combined liabilities, divided by the aggregate number of Class A
common shares outstanding on a pro forma basis, assuming the redemption or exchange of all our partners&#146; holdings of Accenture SCA Class I common shares and Accenture Canada Holdings exchangeable shares for newly issued Class A common shares on
a one-for-one basis. Class A common shares outstanding does not include 6,695,091 shares underlying restricted share units that are not fully vested or scheduled to fully vest prior to the end of the current fiscal year or 98,995,000 shares issuable
pursuant to options. After giving effect to our sale of 115,000,000 Class A common shares in the offering, at an assumed initial public offering price of $14.00 per share, the midpoint of the range set forth on the cover page of this prospectus, and
after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us, our pro forma net tangible book value as of February 28, 2001 would have been approximately $85 million, or $0.22 per share. This
represents an immediate increase in pro forma net tangible book value to existing shareholders of $4.63 per share and an immediate dilution to new investors of $13.78 per share.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table illustrates this per share dilution:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="558" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Assumed initial public offering price per Class A common share</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$14.00</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro forma net tangible book value per share as of February 28, 2001</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(4.41)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in pro forma net tangible book value per share attributable to new
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investors</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4.63</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Pro forma net tangible book value per share after giving effect to the offering (1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">0.22</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Dilution in net tangible book value per share to new investors (2)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$13.78</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1)&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Intangible assets as of February 28, 2001 were $91 million, relating to intangible assets acquired in connection with the
separation from Andersen Worldwide and Arthur Andersen, or $0.23 per share after giving effect to the pro forma adjustments and adjustments for the offering described under &#147;Pro Forma Combined Financial Information.&#148;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(2)&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Dilution is determined by subtracting pro forma net tangible book value per share after giving effect to the offering from
the initial public offering price per share paid by a new investor.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the underwriters&#146; overallotment option is exercised in full, the pro forma net tangible book value per share
after giving effect to the offering would be $0.77 per share and the dilution in net tangible book value per share to new investors would be $13.23 per share.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx9"></A>
PRO FORMA COMBINED FINANCIAL INFORMATION</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following pro forma combined balance sheet as of February 28, 2001 and pro forma combined income statements for the
six months ended February 28, 2001 and for the year ended August 31, 2000 are based on our historical combined financial statements included elsewhere in this prospectus.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The pro forma combined income statements and balance sheet give effect to the following as if they occurred on September
1, 1999 in the case of the pro forma income statements and on February 28, 2001 in the case of the pro forma balance sheet:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the transactions related to our transition to a corporate structure described under &#147;Certain Relationships and Related
Transactions&#151;Reorganization and Related Transactions;&#148;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">compensation payments to employees who were partners prior to our transition to a corporate structure; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">provision for corporate income taxes.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The pro forma as adjusted combined income statements and balance sheet also give effect to the offering as if it
occurred on September 1, 1999 in the case of the pro forma income statements and on February 28, 2001 in the case of the pro forma balance sheet.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;However, the pro forma and pro forma as adjusted combined income statements do not give effect to one-time events
directly attributable to our transition to a corporate structure and related transactions or the offering, because of their nonrecurring nature. These one-time events include:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">approximately $839 million for costs associated with our transition to a corporate structure;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">net compensation cost of approximately $960 million resulting from the grant of restricted share units in connection with the
offering;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">recognition of deferred tax assets, net of liabilities, of approximately $164 million; and</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">recognition of a charitable contribution of $16 million.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, the pro forma and pro forma as adjusted combined income statement for the six months ended February 28,
2001 excludes the effect of a cumulative change in accounting principle to implement Statement of Financial Accounting Standards No. 133, &#147;Accounting for Derivative Instruments and Hedging Activities.&#148;</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The pro forma adjustments and the adjustments for the offering are based upon available information and assumptions that
management believes are reasonable.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This information and the accompanying notes should be read in conjunction with our historical combined financial
statements and the related notes included elsewhere in this prospectus. The information presented is not necessarily indicative of the results of operations or financial position that might have occurred had the events described above actually taken
place as of the dates specified or that may be expected to occur in the future.</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>PRO FORMA COMBINED INCOME STATEMENT</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(unaudited)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>For the six months ended February 28, 2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Historical</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma
<BR>
adjustments</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Adjustments
<BR>
for the
<BR>
offering</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma as
<BR>
adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions, except share and per share data)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Revenues:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$5,713</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$5,713</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,713</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,622</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,622</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,622</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating expenses:*</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Cost of services:*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services before reimbursable expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,943</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">559</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(a)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,502</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,508</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursable expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,852</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">559</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,411</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,417</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">453</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">219</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(a)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">672</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">674</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">766</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">32</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(a)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">798</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">799</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Reorganization and rebranding costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,260</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">810</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,070</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">9</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,079</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating income*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,362</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(810</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">552</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(9</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">543</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Gain on investments, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Interest income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">42</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">42</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">42</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Interest expense</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(10</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(10</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(b)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(32</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">12</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(s)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(20</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(12</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(r)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Other income (expense)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Equity in losses of affiliates</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(42</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(42</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(42</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Income before taxes*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,565</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(832</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">733</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">736</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes (1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">135</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">158</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(c)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">293</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(c)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">294</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Income before minority interest and cumulative change in
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;accounting*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,430</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(990</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">440</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">442</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Minority interest</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">326</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(q)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">326</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(61</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(q)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">265</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner distributions and cumulative
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;change in accounting* (2)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,430</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Income (loss) before cumulative change in accounting</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;(1,316</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;114</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;63</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">177</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Earnings per share:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Income before cumulative change in accounting applicable
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to common shareholders</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;basic</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;diluted</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Weighted average shares</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;basic</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;395,875,619</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(d)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;diluted</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">991,673,178</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(d)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Historical information excludes payments for partner distributions.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes is not the same as income taxes of a corporation. For the historical periods, we operated through
partnerships in many countries. Therefore, we generally were not subject to income taxes in those countries. Taxes related to income earned by our partnerships were the responsibility of the individual partners. In other countries, we operated
through corporations, and in these circumstances we were subject to income taxes.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(2)</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner distributions is not comparable to net income of a corporation similarly determined.
Partnership income in historical periods is not executive compensation in the customary sense because partnership income is comprised of distributions of current earnings. Accordingly, compensation and benefits for services rendered by partners have
not been reflected as an expense in our historical combined financial statements.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>PRO FORMA COMBINED INCOME STATEMENT</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(unaudited)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="615" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>For the year ended August 31, 2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Historical</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma
<BR>
adjustments</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Adjustments
<BR>
for the
<BR>
offering</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma
<BR>
as adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions, except share and per share data)</B></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Revenues:</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;9,752</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;9,752</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,752</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11,540</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11,540</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11,540</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating expenses:*</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Cost of services:*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services before reimbursable expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,486</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">641</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(a)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,127</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,138</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursable expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">7,274</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">641</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">7,915</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">7,926</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">883</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">304</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(a)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,187</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,192</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,297</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">141</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(a)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,438</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,441</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">9,454</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,086</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">10,540</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">10,559</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating income*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,086</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(1,086</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,000</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(19</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">981</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Gain on investments, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">573</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">573</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">573</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Interest income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">67</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">67</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">67</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Interest expense</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(24</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(11</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(b)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(59</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(s)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(35</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(24</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(r)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Other income (expense)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">51</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">51</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">51</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Equity in losses of affiliates</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(46</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(46</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(46</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Income before taxes</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,707</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1,121</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,586</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,591</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes (1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">243</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">391</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(c)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">634</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">636</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Income before minority interest*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,464</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1,512</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">952</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">955</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Minority interest</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">704</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(q)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">704</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(131</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(q)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">573</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner distributions* (2)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;2,464</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Net income (loss)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$(2,216</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;248</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;134</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Earnings per share:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to common shareholders:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;basic</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.97</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;diluted</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.96</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Weighted average shares:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;basic</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;394,536,601</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(d)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;diluted</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">990,668,914</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(d)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;*</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Historical information excludes payments for partner distributions.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes is not the same as income taxes of a corporation. For the historical periods, we operated through
partnerships in many countries. Therefore, we generally were not subject to income taxes in those countries. Taxes related to income earned by our partnerships were the responsibility of the individual partners. In other countries, we operated
through corporations, and in these circumstances we were subject to income taxes.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(2)</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner distributions is not comparable to net income of a corporation similarly determined.
Partnership income in historical periods is not executive compensation in the customary sense because partnership income is comprised of distributions of current earnings. Accordingly, compensation and benefits for services rendered by partners have
not been reflected as an expense in our historical combined financial statements.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>PRO FORMA COMBINED BALANCE SHEET</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 28, 2001</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(unaudited)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="100%" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Historical</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma
<BR>
adjustments</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro
<BR>
forma</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Adjustments
<BR>
for the offering</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma as
<BR>
adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Current assets:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,342</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;(508</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(f)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;519</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,516</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(l)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;1,950</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(282</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(m)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(16</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(p)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(33</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(i)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(69</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(g)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">20</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">20</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">20</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Receivables from clients</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,629</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,629</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,629</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Unbilled services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">800</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">800</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">800</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Due from related parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">28</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">28</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">28</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">23</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(o)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">23</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">23</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Other current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">261</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">261</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">261</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,080</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(800</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,280</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,431</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,711</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Non-current assets:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Due from related parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">81</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">81</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">81</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">406</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">406</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">406</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">759</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">759</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">759</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">66</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(o)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">66</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">75</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(o)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">141</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">148</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">148</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">148</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,394</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">66</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,460</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">75</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,535</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$5,474</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;(734</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;4,740</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,506</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;6,246&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Current liabilities:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Short-term bank borrowings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;213</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;213</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;213</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">30</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">30</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">30</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">186</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">186</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">186</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Due to related parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">300</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(e)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,438</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,438</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,401</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(e)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(282</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(m)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(f)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenues</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">998</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">998</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">998</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Accrued payroll and related benefits</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">929</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">41</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(j)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,048</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(31</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(g)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,017</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">78</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(h)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Taxes payable</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">305</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">305</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(6</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(p)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">299</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Deferred tax liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">334</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(i)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">334</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">334</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Other accrued liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">259</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">259</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">278</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,220</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,591</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,811</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(18</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,793</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Non-current liabilities:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">97</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">97</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">97</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Retirement benefits</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">294</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(j)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">294</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">294</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Other non-current liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">209</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">472</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(i)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">681</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(58</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(g)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">623</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-current liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">306</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">766</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,072</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(58</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,014</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Minority interest</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">263</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(q)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">263</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Partners&#146; capital:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Paid-in capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">524</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(524</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(f)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Undistributed earnings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,480</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1,401</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(e)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(14</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(e)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(65</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(e)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(56</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">56</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(n)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total partners&#146; capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,948</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1,948</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN=16 VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Shareholders&#146; equity</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock: 2,000,000,000 shares authorized, 0 shares issued and
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outstanding</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Class A common shares, par value $0.0000225 per share, 20,000,000,000
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares authorized, (212,335,319 shares issued and outstanding pro
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;forma; 327,335,319 shares issued and outstanding pro forma as
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adjusted)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Class X common shares, par value $0.0000225 per share, 1,000,000,000
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares authorized, (591,161,473 shares issued and outstanding pro
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;forma; 591,161,473 shares issued and outstanding pro forma as
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adjusted)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Restricted share units (related to Class A common shares), 73,896,473
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;units issued and outstanding</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">941</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,035</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">94</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(f)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,516</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(l)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,264</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(263</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(q)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD COLSPAN=16><FONT SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings (deficit)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(839</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(i)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1,098</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(10</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(p)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(1,973</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">65</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(e)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">20</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(g)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(78</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(h)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">75</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(o)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(270</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(j)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(960</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(65</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(j)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">89</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(o)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Deferred compensation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(94</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(k)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(94</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(56</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)(n)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(56</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(56</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders&#146; equity (deficit)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(1,143</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(1,143</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,319</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">176</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders&#146; equity (deficit)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$5,474</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;(734</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;4,740</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,506</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;6,246</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO PRO FORMA FINANCIAL INFORMATION</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(unaudited)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions, except share and per share data)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd&#146;s only business will be to hold shares in and act as the sole general partner of Accenture SCA. As
the sole general partner of Accenture SCA and as a result of Accenture Ltd&#146;s majority voting interest in Accenture SCA, Accenture Ltd will control Accenture SCA&#146;s management and operations and will, accordingly, consolidate Accenture
SCA&#146;s results in Accenture Ltd&#146;s financial statements. Further, our transition to a corporate structure will be accounted for on a carryover basis.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(a)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustments reflect compensation and benefit costs totaling $810 and $1,086 for the six months ended February 28, 2001 and
for the year ended August 31, 2000, respectively, that we would have paid to our partners had we been in a corporate structure during the historical periods. Since Accenture has operated in historical periods as a series of related partnerships and
corporations under the control of our partners, payments to Accenture&#146;s partners have generally been accounted for as distributions of partners&#146; income, rather than compensation expense. As a result, Accenture&#146;s net income and
compensation and benefits expense have not reflected any payments for services rendered by partners. As a corporation, we will include payments for services rendered by our partners in compensation and benefits expense. The new compensation plan
adopted by us is comprised of a fixed salary amount, benefits and performance-based bonuses. All elements of the new compensation plan, including bonus, have been reflected in these adjustments because our partners would have earned the bonus based
on our results of operations for the historical periods. Compensation cost in the pro forma income statement does not include the fair value of restricted share units to be granted at the time of the offering to partners and employees that vest upon
grant or on August 31, 2001, discussed under note (k), because they are a one-time grant in connection with the offering.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="95%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Benefit costs are medical, dental and payroll taxes, all of which are based on estimated costs that would have been incurred
had these benefits been in place during the historical periods.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="95%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Compensation and benefit costs of partners have been allocated 69% and 59% to cost of services, 27% and 28% to sales and
marketing, and 4% and 13% to general and administrative costs for the six months ended February 28, 2001 and for the year ended August 31, 2000, respectively, based upon an estimate of the time spent on each activity at the appropriate cost rates.
The percentage allocation in the six months ended February 28, 2001 varies from the allocation in the year ended August 31, 2000 due to the admission of a significant number of new partners on September 1, 2000.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(b)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Reflects an adjustment of $10 and $11 for the six months ended February 28, 2001 and for the year ended August 31, 2000,
respectively, for the estimated interest expense on early-retirement benefits payable to partners discussed in note (j).</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(c)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Reflects an adjustment for an estimated income tax provision as if we had operated in a corporate structure at a pro forma
tax rate of 40%. Pro forma as adjusted income taxes total $294 and $636 for the six months ended February 28, 2001 and for the year ended August 31, 2000, respectively. As a series of related partnerships and corporations under the control of our
partners, we generally were not subject to income taxes. However, some of the corporations were subject to income taxes in their local jurisdictions.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(d)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">For the purposes of the pro forma earnings per share calculation, the weighted average shares outstanding, basic and diluted,
were calculated based on:</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="580" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=3 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended
<BR>
August 31, 2000
<BR>
Pro forma as adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=3 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months ended
<BR>
February 28, 2001
<BR>
Pro forma as adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Common share issuances</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Basic</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Diluted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Basic</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Diluted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accenture Ltd Class A common shares</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">212,335,219</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">212,335,219</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">212,335,219</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">212,335,219</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accenture SCA Class I common shares</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">587,302,062</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">587,302,062</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accenture Canada Holdings exchangeable shares</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8,160,742</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8,160,742</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Restricted share units&#151;vested</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">67,201,382</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">67,870,891</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">68,540,400</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">68,875,155</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">New shares from offering</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">115,000,000</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">115,000,000</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">115,000,000</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">115,000,000</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Weighted average shares outstanding</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">394,536,601</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">990,668,914</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">395,875,619</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">991,673,178</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO PRO FORMA FINANCIAL INFORMATION&#151;(Continued)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(unaudited)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions, except share and per share data)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="95%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> Basic and diluted earnings per share are calculated as follows:</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="580" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=3 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma as adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Basic earnings per share</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended
<BR>
August 31,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months
<BR>
ended
<BR>
February 28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Net income (loss) available to common shareholders</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Income (loss) before cumulative change in accounting</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Weighted average shares outstanding</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">394,536,601</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">395,875,619</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Basic earnings per share</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.97</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
<TR>
<TD COLSPAN=5 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=5><FONT SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=3 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pro forma as adjusted</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Diluted earnings per share</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended
<BR>
August 31,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months
<BR>
ended
<BR>
February 28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Net income (loss) available to common shareholders</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Income (loss) before cumulative change in accounting</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustments:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minority interest</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">573</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">265</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Income before minority interest</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Income before minority interest and cumulative change in accounting</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Weighted average shares outstanding</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">990,668,914</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">991,673,178</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Diluted earnings per share</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.96</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(e)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustment to reflect distributions of pre-incorporation earnings of $1,401 to our partners. We expect this amount will be
paid in one or more installments on or prior to December 31, 2001. This amount represents the balance of undistributed earnings at February 28, 2001, less an amount of $65, which has been retained in Accenture Ltd related to the retirement benefits
referred to in note (j), and less an amount of $14 due to specific partners and reclassified as a liability.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(f)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustment reflects a distribution of partners&#146; paid-in capital of $508 in cash in connection with our transition to a
corporate structure. The remaining $16 of paid-in capital will be converted to $11 of additional paid-in capital contained within shareholders&#146; equity and $5 payable to specific partners.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(g)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">In connection with the grant of restricted share units, discussed in note (k), we are terminating our deferred bonus plan
(the &#147;eUnit Bonus Plan&#148;) for employees. Adjustment reflects an extinguishment of a liability of $89, of which $69 will be paid out in cash.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(h)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustment to recognize partner-accrued vacation payable of $78 upon the consummation of our transition to a corporate
structure.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(i)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We anticipate incurring transaction costs totaling $839 in connection with its transition to a corporate structure. These
costs include the following:</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="9%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="87%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Indirect taxes such as capital and stamp duty imposed on transfers of assets among group members;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="9%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="87%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Income taxes imposed on transfers of assets and liabilities among group members; and</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="9%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="87%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Income taxes relating to mandatory changes in tax accounting methods.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO PRO FORMA FINANCIAL INFORMATION&#151;(Continued)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(unaudited)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions, except share and per share data)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="95%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> Adjustment reflects costs associated with our transition to a corporate structure, including $33 in cash costs, the creation
of a current deferred tax liability of $334, and the creation of non-current accrued liabilities of $472. Of the $839 in costs, approximately $367 is expected to be paid in cash before December 31, 2001, approximately $190 is expected to be paid
before August 31, 2002 and the balance is expected to be paid prior to August 31, 2003, in each case out of cash from operations, borrowings, or other sources.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(j)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustment to establish liabilities of $65 and $270 for the basic and early-retirement benefit plans, respectively, for
retired partners upon the consummation of our transition to a corporate structure. Of these amounts, $41 is classified as current.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="95%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">All of our partners who retired prior to the consummation of our transition to a corporate structure, or their qualifying
surviving spouses, are paid basic retirement benefits for life. The amount of annual benefit payments is periodically adjusted for cost-of-living adjustments at the beginning of each calendar year. Basic retirement benefits were paid in 2000 to
retired partners and recorded as a distribution of partners&#146; income. Basic retirement benefits could be rescinded at any time by a two-thirds vote of the partners. Since retirement benefits were funded out of undistributed earnings, no
liability was reflected in the historical combined balance sheet.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="95%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Prior to September 1, 2000, early retirement benefits were paid to our partners retiring between the ages of 56 and 62.
Partners retiring at age 56 received early-retirement benefits based on two years&#146; earnings. Partners retiring after age 56 received reduced amounts declining on a straight-line basis that resulted in no payout to partners retiring at age 62.
Effective September 1, 2000, the early-retirement benefit program was modified to be payable at age 50 based on one year&#146;s earnings, increasing on a straight-line basis to two year&#146;s earnings at age 56 and declining to zero at age 62.
Retired partners could elect to receive early retirement benefits in the form of a lump-sum payment or installment payments over 10 years. Early retirement benefits could be rescinded at any time by the board of partners. Since retirement benefits
were funded out of undistributed earnings, no liability was reflected in the historical combined balance sheet.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(k)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustment reflects the anticipated one-time grants of restricted share units to partners, former partners, and employees.
Each restricted share unit awarded will represent an unfunded, unsecured right, which is nontransferable except in the event of death, to receive a Class A common share on the date specified in the award agreement. We intend to grant restricted
share units on a one time basis on the date of the offering as follows:</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">35,000,000 to employees who are current holders of eUnits under the eUnit Bonus Plan described on page F-7 in replacement of
outstanding eUnits which are being cancelled as described in note (g) and to all employees in good standing.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15,042,077 to qualified former partners who retired or resigned prior to May 31, 2001, in respect of past
services.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">17,159,305 to some of our employees that will be promoted to partner on September 1, 2001. These restricted share units will
vest on August 31, 2001.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6,695,091 to some of our recently admitted partners in respect of future service. These restricted share units will vest over
five years and will be expensed over the vesting period as services are rendered.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We recognize compensation expense for share-based compensation awards in accordance with Accounting Principles Board Opinion
No. 25, &#147;Accounting for Stock Issued to Employees.&#148; Under the

measurement principles of APB No. 25 and Financial Interpretation Number 44, &#147;Accounting for Certain Transactions Involving Stock Compensation&#151;an Interpretation of APB 25,&#148; we have recognized a net compensation expense of $960
(50,042,077 restricted share units that vest upon grant and 17,159,305 restricted share units that vest on August 31, 2001 at $14.00 per share plus $19 of payroll taxes) in respect of the portion of restricted share units that are fully vested on
the date of the grant. See &#147;Management&#151;Employee Awards.&#148; This includes $19 of payroll tax incurred on the grant of the restricted share units which has been recorded in current liabilities. In addition, we have recognized $9 and $19
for the six months ended February 28, 2001 and for the year ended August 31, 2000, respectively, for the portion of restricted share units that will vest over a five year period. The compensation cost of these restricted share units that will vest
over a five year period have been allocated 69% and 59% to cost of services, 27% and 28% to sales and marketing, and 4% and 13% to general and administrative costs for the six months ended February 28, 2001 and for the year ended August 31, 2000,
respectively. See note (a). The total cost of the restricted share units that vest over five years, $94 (6,695,091 restricted share units at $14.00 per share), has been recorded in the pro forma as adjusted balance sheet as deferred
compensation.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(l)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustment to record net proceeds from the sale of 115,000,000 Class A common shares in the offering, resulting in net
proceeds of $1,516.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(m)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustment to reflect the remaining cash payment of $282 paid in March 2001 in connection with our separation from Andersen
Worldwide and Arthur Andersen.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(n)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustment to transfer accumulated other comprehensive loss of $56 from partners&#146; capital to shareholders&#146;
equity.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(o)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustment to establish pro forma net deferred tax assets totaling $89, of which $23 has been classified as current,
increased by $75 related to adjustments for the offering to a $164 pro forma as adjusted net deferred tax asset, of which $23 has been classified as a current asset.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(p)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Reflects the payment of $16 in cash to the Accenture Foundation, Inc., a New York not-for-profit corporation, or to
comparable entities in other jurisdictions.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(q)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Reflects an assumed 74% minority interest ownership of partners in Accenture SCA and Accenture Canada Holdings. This
percentage will be reduced to 60% by additional shares and restricted share units issued at the date of the offering. Also reflects the assumed issuance to Accenture Ltd of the 67,201,382 Accenture SCA Class I common shares that will be issued in
connection with the delivery of the 67,201,382 Accenture Ltd Class A common shares to be delivered upon the maturity of the 67,201,382 restricted share units which are considered fully vested and will be issued for no consideration solely upon the
passage of time for the purpose of the pro forma earnings per share and minority interest calculation.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="95%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accenture Ltd owns a 26% economic interest and a 52% voting interest in Accenture SCA prior to the offering. The remaining
economic interest and voting interest are owned by certain of Accenture&#146;s partners. Accenture SCA owns all of the operating companies and assets of the Accenture group.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="95%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The reorganization of the Accenture worldwide organization to a corporate structure will be accounted for as a reorganization
at carryover basis. Partners in the Accenture organization received shares of Accenture Ltd, Accenture SCA or Accenture Canada Holdings depending on their member firm. The shares of Accenture SCA and Accenture Canada Holdings held by the
partners will be treated as a minority interest in the consolidated financial statements of Accenture Ltd. However, the future exchange and/or acquisition of Accenture SCA or Accenture Canada Holdings shares will be accounted for at carryover
basis.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="95%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Upon the consummation of the offering, Accenture Ltd will issue additional shares. Upon receipt of consideration for these
shares, Accenture Ltd will subscribe for an equal number of additional shares in Accenture SCA for the same price per share, thereby increasing its percentage ownership in Accenture SCA.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="95%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accenture Ltd is the sole general partner of Accenture SCA and owns the majority of the voting shares in Accenture SCA and
therefore consolidates Accenture SCA and its subsidiaries. Although the other shareholders of Accenture SCA hold more than 50% of the economic interest in Accenture SCA, they do not have voting control and therefore are considered to be a minority
interest.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(r)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Reflects an adjustment of $12 and $24 for the six months to February 28, 2001 and the year to August 31, 2000, respectively,
for the estimated interest expense on borrowings of $315 at an incremental borrowing rate of 7.5% incurred to repay partners&#146; paid-in capital in connection with the transition to a corporate structure.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(s)</FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Reflects an adjustment to eliminate the adjustment described in note (r) since the proceeds of the offering eliminate the
need for such borrowing.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx10"></A>
SELECTED FINANCIAL DATA</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following selected financial data have been presented on a historical cost basis for all periods presented. The data
as of August 31, 1999 and 2000 and for the years ended August 31, 1998, 1999 and 2000 are derived from the audited historical combined financial statements and related notes which are included elsewhere in this prospectus. The data as of August 31,
1996, 1997 and 1998 and as of February 29, 2000 and for the years ended August 31, 1996 and 1997 are derived from unaudited historical combined financial statements and related notes which are not included in this prospectus. The data as of February
28, 2001 and for the six months ended February 29, 2000 and February 28, 2001 are derived from the historical unaudited combined financial statements and related notes which are included elsewhere in this prospectus. The selected financial data
should be read in conjunction with &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations,&#148; &#147;Pro Forma Combined Financial Information&#148; and our historical combined financial statements and
related notes included elsewhere in this prospectus.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months ended</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended August 31,</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 29,</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 28,</B></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1996</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1997</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=20 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Income Statement Data:</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Revenues:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$4,942</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$6,275</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$8,215</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$9,550</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$9,752</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$4,685</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$5,713</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">768</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,172</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,425</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,529</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">799</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,710</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">7,447</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">9,640</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11,079</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">11,540</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,484</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,622</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating expenses:*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Cost of services:*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services before reimbursable expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,678</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,470</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,700</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,457</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,486</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,660</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,943</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursable expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">768</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,172</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,425</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,529</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">799</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,446</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,642</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,125</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,986</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">7,274</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,459</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,852</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">532</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">611</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">696</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">790</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">883</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">421</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">453</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">659</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">819</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,036</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,271</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,297</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">640</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">766</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Reorganization and rebranding costs</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,637</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">6,072</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">7,857</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">9,047</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">9,454</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,520</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,260</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating income*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,073</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,375</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,783</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,032</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,086</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">964</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,362</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Gain on investments, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">92</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">573</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">268</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">189</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Interest income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">60</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">67</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">28</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">42</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Interest expense</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(16</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(19</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(17</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(27</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(24</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(12</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(10</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Other income (expense)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(4</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(6</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(5</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">51</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Equity in losses of affiliates</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(1</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(6</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(46</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(7</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(42</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Income before taxes*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,053</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,360</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,759</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,146</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,707</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,260</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,565</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Provision for taxes (1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">116</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">118</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">74</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">123</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">243</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">115</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">135</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Income before cumulative change in accounting*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">937</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,242</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,685</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,023</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,464</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,145</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,430</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;Cumulative effect of change in accounting</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">188</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner distributions* (2)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;937</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,242</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,685</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$2,023</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$2,464</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,145</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,618</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN=22><FONT SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>As of</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B> </B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>As of August 31,</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 29,</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 28,</B></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1996</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1997</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=20 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Balance Sheet Data:</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Cash and cash equivalents</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;438</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;325</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;736</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,111</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,271</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,018</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,342</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Working capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">280</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">175</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">531</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">913</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,015</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">860</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Total assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,323</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,550</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3,704</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">4,615</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,451</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,326</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">5,474</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">226</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">192</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">157</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">127</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">99</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">127</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">97</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Total partners&#146; capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">696</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">761</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,507</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,208</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,368</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,473</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,948</FONT></TD>
<TD><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Excludes payments for partner distributions.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1) </FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes is not the same as income taxes of a corporation for historical periods. We operated through partnerships
in many countries. Therefore, we generally were not subject to income taxes in those countries. Taxes related to income earned by our partnerships were the responsibility of the individual partners. In other countries, we operated through
corporations, and in these circumstances we were subject to income taxes.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(2)</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner distributions is not comparable to net income of a corporation similarly determined.
Partnership income in historical periods is not executive compensation in the customary sense because partnership income is comprised of distributions of current earnings. Accordingly, compensation and benefits for services rendered by partners have
not been reflected as an expense in our historical combined financial statements.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx11"></A>
MANAGEMENT&#146;S DISCUSSION AND ANALYSIS OF FINANCIAL</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>CONDITION AND RESULTS OF OPERATIONS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following discussion and analysis should be read in conjunction with our historical combined financial statements
and related notes included elsewhere in this prospectus as well as our pro forma financial information contained in the section entitled &#147;Pro Forma Combined Financial Information.&#148;</I></FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All references to years, unless otherwise noted, refer to our fiscal year, which ends on August 31. For example, a
reference to &#147;2000&#148; or &#147;fiscal 2000&#148; means the 12-month period that ended on August 31, 2000. All references to quarters, unless otherwise noted, refer to the quarters of our fiscal year.</I></FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Overview</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture is the world&#146;s leading provider of management and technology consulting services and solutions. We have
more than 75,000 employees in more than 110 offices in 46 countries delivering to our clients a wide range of consulting, technology and outsourcing services. Our leading position in the management and technology consulting services and solutions
markets results from the number of our professional consultants, our global scale and reach, our deep industry knowledge, our broad service offering expertise, our extensive client relationships and our history of technology innovation.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The results of our operations are affected by the level of economic activity and change in the industries we serve. Our
business is also driven, in part, by the pace of technological change and the type and level of technology spending by our clients. The ability to identify and capitalize on these technological and market changes early in their cycles is a key
driver of our performance. We are now seeing some evidence of an economic slowdown in some markets, including a reduction in capital expenditures and technology and associated discretionary spending by our clients, particularly in the United States.
This has caused a reduction in our growth rate in the Americas and in our Communications &amp; High Tech, Financial Services and Products global market units in the third quarter of this fiscal year as compared with the first half of this fiscal
year. Revenues before reimbursements for the third quarter of 2001 for our Communications &amp; High Tech, Financial Services and Products global market units increased by 8%, 15% and 16%, respectively, over the third quarter of 2000, while revenues
before reimbursements for the first half of 2001 for these market units increased by 27%, 19% and 25%, respectively, over the first half of 2000. Revenues before reimbursements for the third quarter of 2001 for our Americas geographic area increased
by 10% over the third quarter of 2000, while revenues before reimbursements for the first half of 2001 for this geographic area increased by 27% over the first half of 2000. We expect continued growth in revenues in the fourth quarter of this fiscal
year, though at a slower rate of growth than in the third quarter. Our strategy is to anticipate changes in demand for our services and to identify cost-management initiatives in order to manage costs as a percentage of revenues. For example, on
June 7, 2001, we announced an initiative to reduce our staff in certain parts of the world, in certain skill groups and in some support positions. We have generally been able to maintain our margins during past periods of volatility, such as the
slowdown in technology spending that occurred in anticipation of the Year 2000 events, through similar proactive cost-management programs.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have operated as a series of related partnerships and corporations under the control of our partners for all
historical periods. We will operate in a corporate structure in future periods. As a business, whether in partnership form or in a corporate structure, our profitability is driven by the same factors. Revenues are driven by our partners&#146; and
senior executives&#146; ability to secure contracts for new engagements and to deliver products and services that add value to our clients. Our ability to add value to clients and therefore drive revenues depends in part on our ability to offer
market-leading service offerings and to deploy skilled teams of professionals quickly and on a global basis. Cost of services is primarily driven by the cost of client service personnel, which consists primarily of compensation and


training costs. Cost of services as a percentage of revenues is driven by the productivity of our client service workforce. Chargeability, or utilization, represents the percentage of our professionals&#146; time spent on billable work. We plan and
manage our headcount to meet the anticipated demand for our services. Selling and marketing expense is driven primarily by development of new service offerings, the level of concentration of clients in a particular industry or market, client
targeting, image development and brand-recognition activities. General and administrative costs generally correlate with changes in headcount and activity levels in our business.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Presentation</B></I></FONT></DIV>
</TD>
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</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until August 2000, we were associated with Andersen Worldwide. We and Arthur Andersen were two stand-alone business
units linked through various agreements between us and Andersen Worldwide, a coordinating entity. Following arbitration proceedings between us, on the one hand, and Andersen Worldwide and Arthur Andersen, on the other, that were completed in August
2000, we ceased to be associated with these organizations. During our association with Andersen Worldwide and Arthur Andersen, we were controlled by our partners, and our historical combined financial statements have been presented on a consistent
basis for all periods. On January 1, 2001, we changed our name to Accenture.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since we have historically operated as a series of related partnerships and corporations under the control of our
partners, our partners generally participated in profits, rather than receive salaries. Therefore, our historical combined financial statements do not reflect any compensation or benefit costs for services rendered by them. Upon the consummation of
our transition to a corporate structure, partner compensation will consist of salary, bonuses and benefits. The pro forma financial statements, which appear elsewhere in this prospectus, include adjustments for compensation and benefits that we
would have paid to partners under the compensation program we implemented when we consummated our transition to a corporate structure. Similarly, operating primarily in the form of partnerships has meant that our partners have paid income tax on
their share of the partnerships&#146; income on their individual tax returns. Therefore, our historical combined financial statements do not reflect the income tax liability that we would have paid as a corporation. Following the consummation of our
transition to a corporate structure, we are subject to corporate tax on our income.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Segments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating segments are defined as components of an enterprise for which separate financial information is regularly
available and evaluated by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. Our chief operating decision maker is the Chief Executive Officer.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our five reportable operating segments are our global market units, or market units, which are Communications &amp; High
Tech, Financial Services, Government, Products and Resources. The operating segments are managed separately because each operating segment represents a strategic business unit that serves different markets. Revenues of the individual global market
units vary based on the results of the industry groups that comprise each global market unit. Global market units are managed on the basis of revenues before reimbursements because management believes it is a better indicator of global market unit
performance than revenues. Generally, operating expenses for each global market unit have similar characteristics and are subject to the same drivers, pressures and challenges. While most operating expenses apply to all segments, some sales and
marketing expenses are lower as a percentage of revenues in industry groups whose client base is concentrated, such as those in Financial Services, and higher in industry groups whose client base is more fragmented, such as those in Products. The
discussion and analysis related to each operational expense category applies to all segments, unless otherwise indicated.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Revenues</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We derive substantially all of our revenues from contracts for management and technology service offerings and solutions
that we develop, implement and manage for our clients. Depending on the terms

of the contract, revenues are recognized on a time-and-materials basis or on a percentage-of-completion basis, as services are provided by our employees and, to a lesser extent, subcontractors. Revenues from time-and-materials service contracts are
recognized as the services are provided. Revenues from long-term contracts are recognized over the contract term based on the percentage of services provided during the period compared to the total estimated services to be provided over the duration
of the contract. Revenues include the cost and margin earned on computer hardware and software resale contracts, as well as revenues from alliance agreements, neither of which is material to us. Reimbursements, including those relating to travel and
other out-of-pocket expenses, and other similar third-party costs, such as the cost of hardware and software resales, are included in revenues, and an equivalent amount of reimbursable expenses are included in cost of services.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each contract has different terms based on the scope, deliverables and complexity of the engagement. Generally, our
contracts are terminable by the client on short notice and without penalty. Accordingly, we do not believe it is appropriate to characterize these contracts as backlog. Normally, if a client terminates a project, the client remains obligated to pay
for commitments we have made to third parties in connection with the project, services performed and reimbursable expenses incurred by us through the date of termination.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Operating Expenses</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses include variable and fixed direct and indirect costs that are incurred in the delivery of our
solutions and services to clients. The primary categories of operating expenses include cost of services, sales and marketing, and general and administrative costs.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Services</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services includes the direct costs to provide services to our clients. Such costs generally consist of
compensation for client service personnel, the cost of subcontractors hired as part of client service teams, costs directly associated with the provision of client service, such as special-purpose facilities for outsourcing contracts, the
recruiting, training, personnel development and scheduling costs of our client service personnel. Reimbursements, including those relating to travel and other out-of-pocket expenses, and other similar third-party costs, such as the cost of hardware
and software resales, are included in revenues, and an equivalent amount of reimbursable expenses are included in cost of services.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
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<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and Marketing</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing expense consists of expenses related to promotional activities, market development, including costs
to develop new service offerings, and image development, including advertising and market research.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and Administrative Costs</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs primarily include costs for non-client service personnel, information systems and
office space. Through various cost-management initiatives, we seek to keep general and administrative costs proportionately in line with or below anticipated changes in revenues.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reorganization and Rebranding Costs</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reorganization and rebranding costs include one-time costs, beginning in September 2000, to rename our organization
Accenture and other costs to transition to a corporate structure.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>


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<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Gain on Investments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on investments represent primarily gains and losses on the sales of marketable securities and write-downs on
investments in private securities. These fluctuate over time, are not predictable and may not recur. Beginning on September 1, 2000, they also include changes in the fair market value of equity holdings considered to be derivatives in accordance
with SFAS 133.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>Interest Income</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income represents interest earned on cash and cash equivalents. Interest income also includes interest earned
on a limited number of client engagement receivables when we agree in advance to finance those receivables for our clients beyond the normal billing and collection period.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Interest Expense</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense primarily reflects interest incurred on borrowings.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Other Income (Expense)</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income (expense) consists of currency exchange gains (losses) and the recognition of income from vesting of
options for services by our representatives on boards of directors of those companies in which we invest. In general, we earn revenues and incur related costs in the same currency. We hedge significant planned movements of funds between countries,
which potentially gives rise to currency exchange gains (losses).</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Equity in Losses of Affiliates</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in losses of affiliates represents our share of the operating results of non-consolidated companies over which we
have significant influence.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Provision for Taxes</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to our transition to a corporate structure, we were generally not subject to income taxes in most countries
because we operated in partnership form in those countries. Since taxes related to income earned by the partnerships were the responsibility of the individual partners, our partners reported and paid taxes on their share of the partnerships&#146;
income on their individual tax returns. In other countries, however, we operated in the form of a corporation or were otherwise subject to entity-level taxes on income and withholding taxes. As a result, prior to our transition to a corporate
structure, we have paid some entity-level taxes, with the amount varying from year to year depending on the mix of earnings among our worldwide entities. Where applicable, we have accounted for these taxes under the asset and liability
method.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

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<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Partnership Income Before Partner Distributions</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our historical combined financial statements reflect our organization as a related series of partnerships and
corporations under the control of our partners. The income of our partners in historical periods is not executive compensation in the customary sense because partner compensation is comprised of distributions of current earnings, out of which our
partners are responsible for their payroll taxes and benefits.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following our transition to a corporate structure, as part of our annual budgeting process, we set budgeted income
amounts for our results and cash compensation to our partners. Since June 1, 2001 we have been paying approximately 83% of budgeted cash compensation to our partners as fixed compensation on a monthly basis during the year. Commencing September 1,
2001 we expect to pay an additional 17% as a bonus to the extent that our results meet the budgeted income amount. If our results exceed the budgeted income amount, we currently intend to distribute a portion of the excess to our partners as an
additional bonus.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>Historical Results of Operations</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth the unaudited percentage of revenues represented by items in our combined income
statements for the periods presented.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

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<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>As a Percentage of Revenues</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=8 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended August 31,</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months ended</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February&nbsp;29,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February&nbsp;28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Revenues:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">85</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">86</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">85</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">85</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">86</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Operating expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services*:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services before
reimbursable
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">49</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">49</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">48</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">48</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">44</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursable
expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of
services*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">64</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">63</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">63</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">63</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">58</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">11</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">11</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">11</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">11</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reorganization and rebranding costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating
expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">82</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">82</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">82</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">82</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">79</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Operating income(1)*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Gain on investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest expense</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Other income (expense)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Equity in losses of affiliates</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Income before taxes*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">23</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">23</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Income before accounting change*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">17</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Cumulative effect of accounting change</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner distributions*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">17</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">25</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;*</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Excludes payments for partner distributions.</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Operating income as a percentage of revenues before reimbursements was 22%, 21%, 21%, 21% and 24% for the years ended August
31, 1998, 1999 and 2000 and for the six months ended February 29, 2000 and February 28, 2001, respectively.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We provide services through five global market units. The following table provides unaudited financial information for
each of these market units.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="615" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=8 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended August 31,</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months ended</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February&nbsp;29,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February&nbsp;28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=14 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions, except for percentages)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Revenues:</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communications &amp; High Tech</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,903</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;2,499</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;2,806</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,309</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,666</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,405</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,737</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,542</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,233</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,465</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">547</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">777</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">797</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">388</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">451</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Products</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,576</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,664</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,891</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">905</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,129</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resources</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,702</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,812</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,661</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">822</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">954</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">82</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">61</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">55</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">28</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">48</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues before
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8,215</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">9,550</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">9,752</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4,685</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5,713</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,425</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,529</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,788</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">799</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">909</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$9,640</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$11,079</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$11,540</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$5,484</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$6,622</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Revenues as a percentage of total:</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communications &amp; High Tech</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">25</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">25</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">25</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">25</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Products</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">16</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">16</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">16</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">17</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resources</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">16</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues before
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">85</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">86</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">85</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">85</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">86</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Operating Income:</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communications &amp; High Tech</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;346</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;532</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;638</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;283</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;394</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">681</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">814</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">653</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">295</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">429</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">94</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">71</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">34</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">40</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Products</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">350</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">250</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">390</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">184</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">257</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resources</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">276</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">267</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">249</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">115</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">193</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">110</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">75</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">85</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">53</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">49</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,783</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;2,032</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;2,086</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;964</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,362</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Operating Income as a percentage of
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;total:</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communications &amp; High Tech</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">26</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">31</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">38</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">40</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">31</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">31</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">31</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Products</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resources</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">16</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">13</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">100</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Operating Income as a percentage of
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;total revenues before reimbursements:</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communications &amp; High Tech</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">23</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">28</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">30</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">26</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">9</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">9</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">9</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Products</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">23</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resources</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">16</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">n/m</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">n/m</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">n/m</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">n/m</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">n/m</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues before
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Operating Income as a percentage of
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;revenues</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">n/m = not meaningful</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>Six Months Ended February 28, 2001 Compared to Six Months Ended February 29, 2000</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues for the six months ended February 28, 2001 were $6,622 million, an increase of $1,138 million, or 21%, over the
six months ended February 29, 2000. Revenues before reimbursements for the six months ended February 28, 2001 were $5,713 million, an increase of $1,028 million, or 22%, over the six months ended February 29, 2000. In local currency terms, revenues
before reimbursements grew by 30% in the six months ended February 28, 2001 over the six months ended February 29, 2000.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Demand for services in the first half of fiscal 2000 was affected by our clients&#146; concerns surrounding global
anticipation of business systems disruptions resulting from the arrival of the Year 2000. In the second half of fiscal 2000, our revenues began to grow as our clients began to focus on new transformation and implementation initiatives after Year
2000 disruptions proved to be minimal. In the six months ended February 28, 2001, our revenues continued to grow. In addition, demand for our services grew as clients began to explore Web-enablement and electronic commerce strategies and solutions
both in the business-to-business and business-to-consumer areas. We believe that this strong revenue growth is the result of our rapid response to changes in the marketplace and our creation and refinement of relevant service offerings. In addition,
by focusing on the re-training of our client service personnel during the Year 2000 slowdown, we positioned ourselves to take advantage of the growth opportunities in these new markets. We achieved this strong revenue growth in the six months ended
February 28, 2001 despite the difficult economic conditions that many of our clients&#146; industries are experiencing. We are now seeing some evidence of an economic slowdown in some markets, including a reduction in capital expenditures and
technology and associated discretionary spending by our clients, particularly in the Americas. This has caused a reduction in our growth rate in the Americas and in our Communications &amp; High Tech, Financial Services and Products global market
units in the third quarter of this fiscal year as compared with the first half of this fiscal year. Revenues before reimbursements for the third quarter of 2001 for our Communications &amp; High Tech, Financial Services and Products global market
units increased by 8%, 15% and 16%, respectively, over the third quarter of 2000, while revenues before reimbursements for the first half of 2001 for these market units increased by 27%, 19% and 25%, respectively, over the first half of 2000.
Revenues before reimbursements for the third quarter of 2001 for our Americas geographic area increased by 10% over the third quarter of 2000, while revenues before reimbursements for the first half of 2001 for this geographic area increased by 27%
over the first half of 2000. We expect continued growth in revenues in the fourth quarter of this fiscal year, though at a slower rate of growth than in the third quarter. We believe we can also slow the growth of our costs and defer expenditures
for discretionary items. For example, on June 7, 2001, we announced an initiative to reduce our staff in certain parts of the world, in certain skill groups and in some support positions.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Communications &amp; High Tech market unit achieved revenues before reimbursements of $1,666 million in the six
months ended February 28, 2001, an increase of 27% over the six months ended February 29, 2000, primarily due to strong growth in our Communications and Electronics &amp; High Tech industry groups in North America. Operations in Europe and Latin
America also experienced significant growth. Our Financial Services market unit achieved revenues before reimbursements of $1,465 million in the six months ended February 28, 2001, an increase of 19% over the six months ended February 29, 2000,
primarily due to strong growth in our Banking industry group in Europe and North America. Our Products market unit achieved revenues before reimbursements of $1,129 million in the six months ended February 28, 2001, an increase of 25% over the six
months ended February 29, 2000, as the result of strong growth across all our industry groups in both Europe and North America. Our Resources market unit achieved revenues before reimbursements of $954 million in the six months ended February 28,
2001, an increase of 16% over the six months ended February 29, 2000, as the result of strong growth in the Chemicals, Energy, Forest Products and Metals &amp; Mining industry groups in North America, which was



partially offset by a decrease in Europe. Our Government market unit achieved revenues before reimbursements of $451 million in the six months ended February 28, 2001, an increase of 16% over the six months ended February 29, 2000, primarily driven
by strong growth in Canada, the United States and the United Kingdom.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating Expenses</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses in the six months ended February 28, 2001 were $5,260 million, an increase of $740 million, or 16%,
over the six months ended February 29, 2000, and a decrease as a percentage of revenues from 82% in the six months ended February 29, 2000 to 79% in the six months ended February 28, 2001. We continued to implement long- and short-term
cost-management initiatives aimed at keeping overall growth in operating expenses less than the growth in revenues. The long-term initiatives focus on global reductions in infrastructure costs. In addition, the costs of delivering training have been
reduced by moving toward Web-enabled and other lower-cost distribution methods. The short-term initiatives focus on reducing variable costs, such as headcount in select administrative areas, and limiting travel and meeting costs.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Services</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services was $3,852 million in the six months ended February 28, 2001, an increase of $393 million, or 11%, over
the six months ended February 29, 2000, and a decrease as a percentage of revenues from 63% in the six months ended February 29, 2000 to 58% in the six months ended February 28, 2001. Cost of services before reimbursable expenses was $2,943 million
in the six months ended February 28, 2001, an increase of $283 million, or 11%, over the six months ended February 29, 2000 and a decrease as a percentage of revenues before reimbursements from 57% in the six months ended February 29, 2000 to 52% in
the six months ended February 28, 2001. This decrease as a percentage of revenues and revenues before reimbursements resulted from increases in chargeability due to increased demand for our services and lower employee compensation costs resulting
from the promotion of 1,286 employees to partner effective September 1, 2000. The increase in partner admissions was designed to incentivize our professionals at an earlier stage in their careers with us.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and Marketing</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing expense was $453 million in the six months ended February 28, 2001, an increase of $32 million, or
8%, over the six months ended February 29, 2000, and a decrease as a percentage of revenues from 8% in the six months ended February 29, 2000 to 7% in the six months ended February 28, 2001. The 2001 percentage is consistent with 1998 and 1999
levels. The percentage in 2000 was slightly higher due to higher than normal business development and market-development activities following the year 2000 slowdown and the reduction in compensation costs related to the promotion of 1,286 employees
to partner effective September 1, 2000.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and Administrative Costs</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs were $766 million in the six months ended February 28, 2001, an increase of $126
million, or 20%, over the six months ended February 29, 2000, and remained constant as a percentage of revenues at 11% in the six months ended February 29, 2000 and in the six months ended February 28, 2001. Our short-term cost-management
initiatives in this period of significant growth in revenues enabled us to maintain a constant level of general and administrative costs as a percentage of revenues.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reorganization and Rebranding Costs</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reorganization and rebranding costs were $189 million, or 3% of revenues, in the six months ended February 28, 2001, and
included amortization of intangible assets, acquired in connection with the Memorandum of Understanding with Andersen Worldwide, of $66 million. The remaining $91 million of
intangible assets will be amortized in the third and fourth quarter of 2001. Reorganization and rebranding costs, which resulted from changing our name and other costs relating to our transition to a corporate structure, are expected to continue to
be incurred at similar levels during the remainder of 2001.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating Income</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income was $1,362 million in the six months ended February 28, 2001, an increase of $399 million, or 41%, over
the six months ended February 29, 2000, and an increase as a percentage of revenues from 18% in the six months ended February 29, 2000 to 21% in the six months ended February 28, 2001. Operating income increased as a percentage of revenues before
reimbursements from 21% in the six months ended February 29, 2000 to 24% in the six months ended February 28, 2001.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on Investments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on investments totaled $189 million for the six months ended February 28, 2001, compared to a gain of $268 million
during the six months ended February 29, 2000. This gain represents the sale of $357 million of a marketable security purchased in 1995, net of other than temporary impairment investment write-downs of $41 million, and unrealized investment losses
recognized according to SFAS 133 of $127 million. Other than temporary impairment, write-downs consisted of $10 million in publicly traded equity securities and $31 million in privately traded equity securities. The write-downs relate to investments
in Internet or e-commerce companies where the market value has been less than our cost for an extended time period, or the issuer has experienced significant financial declines or difficulties in raising capital to continue operations.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest Income</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income was $42 million for the six months ended February 28, 2001, an increase of $15 million, or 54%, over the
six months ended February 29, 2000. The increase resulted primarily from the investment of cash generated by the sale of a portion of a marketable security purchased in 1995 and an increase in the deferral of partner distributions.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Income (Expense)</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income was $24 million in the six months ended February 28, 2001, an increase of $4 million over the six months
ended February 29, 2000.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in Losses of Affiliates</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in losses of affiliates was a $42 million loss in the six months ended February 28, 2001, compared to a $7
million loss in the six months ended February 29, 2000. This increase was primarily due to $28 million in losses related to our investment in Avanade, a company we jointly own with Microsoft that focuses on large-scale technology integration
surrounding Microsoft&#146;s enterprise platform.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for Taxes</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes were $135 million in the six months ended February 28, 2001, an increase of $22 million over the six months ended
February 29, 2000. This increase was due to increased taxable income in some of our entities that were subject to entity-level tax.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumulative Effect of Accounting Change</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The adoption of SFAS 133 resulted in cumulative income of $188 million on September 1, 2000, which represents the
cumulative unrealized gains resulting from changes in the fair market value of equity holdings considered to be derivatives by that statement.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>Year Ended August 31, 2000 Compared to Year Ended August 31, 1999</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues for 2000 were $11,540 million, an increase of $461 million, or 4%, over 1999. Revenues before reimbursements
for 2000 were $9,752 million, an increase of $202 million, or 2%, over 1999. Exchange rate fluctuations, specifically with respect to the euro, negatively affected revenue growth as measured in U.S. dollars. In local currency terms, revenues before
reimbursements grew by 6% over 1999. Our revenue growth was achieved in the face of a challenging economic environment, which began in the second half of 1999 and was primarily related to Year 2000 events. Specifically, we experienced a slowdown in
information technology spending by large companies as they completed large enterprise business systems installations in anticipation of the Year 2000. In addition, there was reluctance by large companies to commit to major new transformation and
implementation projects until the impact of Year 2000 concerns was fully understood. However, at the same time, we experienced an increase in demand in the electronic commerce area. Accordingly, we focused on developing capabilities and new service
offerings to meet the growing opportunities in these new areas. We retrained our workforce to maintain market relevance to meet the demands of our clients in the emerging new economy. During the second half of 2000, following the realization by our
clients that Year 2000 disruptions were minimal, we experienced increased demand for our services, which led to stronger revenue growth beginning in the third quarter. Specifically, revenue growth was (1%), 0%, 7% and 11% in the first through fourth
quarters of the year over the corresponding quarters in the previous year.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Communications &amp; High Tech market unit achieved revenues before reimbursements of $2,806 million in 2000, an
increase of 12% over 1999, primarily due to growth in Europe and Asia, which was partially offset by slower growth in our North American operations because of the Year 2000-related slowdown. Our Financial Services market unit achieved revenues
before reimbursements of $2,542 million in 2000, a decrease of 7% from 1999, primarily driven by decreasing levels of business activity in North America as a result of clients focusing on Year 2000 concerns, as well as the effects of an unfavorable
interest rate environment and reduced client merger activity. Our Products market unit achieved revenues before reimbursements of $1,891 million in 2000, an increase of 14% over 1999, primarily driven by growth in North America from the Retail and
Transportation &amp; Travel Services industry groups, as well as additional growth in the Retail industry group in Europe. Our Resources market unit achieved revenues before reimbursements of $1,661 million in 2000, a decrease of 8% from 1999,
primarily as the result of delayed merger activity as several proposed mergers were delayed by regulatory concerns, and the completion of a number of large enterprise resource planning implementation projects before Year 2000. Our Government market
unit achieved revenues before reimbursements of $797 million in 2000, an increase of 3% over 1999. The 2000 increase was lower than in 1999, primarily as a result of government clients postponing large implementation projects until Year 2000
concerns were resolved.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating Expenses</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses in 2000 were $9,454 million, an increase of $406 million, or 4%, over 1999, and remained constant as
a percentage of revenues at 82% in 1999 and 2000. In anticipation of slower growth, we formed a special task force in the second half of 1999 to identify cost drivers, raise cost consciousness and reduce non-payroll cost structures, the results of
which were reflected in cost savings during 2000. In 2000, we began a training initiative that focused on building electronic commerce skills and knowledge quickly. The advent of electronic commerce also facilitated a move from traditional classroom
training toward Web-enabled distributed training that is designed to deliver the same or better-quality training in fewer hours at lower cost. We expect this move toward Web-enabled and other distributed training to continue.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Services</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services was $7,274 million in 2000, an increase of $288 million, or 4%, over 1999, and remained constant as a
percentage of revenues at 63% in 1999 and 2000. Cost of services before reimbursable expenses was $5,486 million in 2000, an increase of $30 million, or 1%, over 1999 and a decrease as a percentage of revenues before reimbursements from 57% in 1999
to 56% in 2000. We were able to maintain overall cost of services as a percentage of revenues and revenues before reimbursements at relatively constant levels through periods of slow growth in the first half of 2000, followed by periods of
accelerated growth in the second half of 2000.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and Marketing</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing expense was $883 million in 2000, an increase of $93 million, or 12%, over 1999 and an increase as a
percentage of revenues from 7% in 1999 to 8% in 2000. The increase was primarily related to our employees spending larger portions of their time on business- and market-development activities coupled with an increase in advertising to communicate
our electronic commerce capabilities to existing and potential clients. The increased business- and market-development activities were directed toward increasing demand for our services and products after the Year 2000 slowdown.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and Administrative Costs</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs were $1,297 million in 2000, an increase of $25 million, or 2%, from 1999 and a
decrease as a percentage of revenues from 12% in 1999 to 11% in 2000. As signs of slowing demand became apparent in the first half of 2000, we launched initiatives to better manage our general and administrative costs, including controlling
facilities, services and support costs. This reduction as a percentage of revenues was due in part to the elimination of temporary duplicate costs incurred in 1999 associated with the transition to us of internal support systems and other functions
previously shared with Andersen Worldwide.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating Income</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income was $2,086 million in 2000, an increase of $54 million, or 3%, over 1999, and remained constant as a
percentage of revenues at 18% in 1999 and 2000. Operating income remained constant as a percentage of revenues before reimbursements at 21% in 1999 and 2000. </FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on Investments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on investments totaled $573 million for 2000, compared to a gain of $92 million in 1999. $476 million of gain on
investments were related to the sale of a portion of our investment in a marketable security purchased in 1995.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest Income</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income was $67 million in 2000, an increase of $7 million, or 12%, over 1999. The increase in interest income
in 2000 resulted primarily from an increase in our cash balance, which was generated by the sale of a portion of our investment in a marketable security purchased in 1995.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Income (Expense)</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income was $51 million in 2000, an increase of $56 million over 1999. This increase was primarily attributable to
the recognition of income from vesting of options for services by our representatives on boards of directors of those companies in which we invest, coupled with income resulting from foreign exchange translations.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in Losses of Affiliates</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in losses of affiliates was a loss of $46 million in 2000 compared to a loss of $6 million in 1999, primarily due
to a loss of $32 million related to our investment in Avanade.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for Taxes</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes were $243 million in 2000, an increase of $120 million over 1999. This increase was due to increased taxable
income in some of our entities that were subject to entity-level tax.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Year Ended August 31, 1999 Compared to Year Ended August 31, 1998</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues for 1999 were $11,079 million, an increase of $1,440 million, or 15%, over 1998. Revenues before reimbursements
for 1999 were $9,550 million, an increase of $1,335 million, or 16%, over 1998. In local currency terms, revenue before reimbursements grew by 17% over 1998. During the first half of 1999, revenue growth was primarily a result of continued increases
in large-scale enterprise business systems solutions implementations, which had also fueled the strong growth in 1998. During the second half of 1999, a portion of the demand for our services moved from large-scale, complex transformation and
implementation projects to scalable electronic commerce solutions. In addition, our clients were increasingly focusing on Year 2000 issues, which delayed large-scale implementation projects.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Communications &amp; High Tech market unit achieved revenues before reimbursements of $2,499 million in 1999, an
increase of 31% over 1998, primarily due to rapid growth in the communications and electronics and high tech industries which presented new challenges for our clients, thus increasing the demand for our services. The most significant increase was
experienced in Europe, which had revenue before reimbursements growth of 60% over 1998, primarily fueled by robust growth in telecommunications outsourcing work. Our Financial Services market unit achieved revenues before reimbursements of $2,737
million in 1999, an increase of 14% over 1998, primarily as a result of strength in Europe offset by information technology spending reductions by several clients in anticipation of Year 2000 concerns. Our Products market unit achieved revenues
before reimbursements of $1,664 million in 1999, an increase of 6% over 1998, primarily due to strong growth from the Pharmaceuticals &amp; Medical Products industry group, which was partially offset by slower growth in North America in the second
half of the year, particularly due to Year 2000 concerns in the Automotive and Industrial Equipment industry groups. Our Resources market unit achieved revenues before reimbursements of $1,812 million in 1999, an increase of 7% over 1998, primarily
as a result of growth in the Utilities industry group, which was partially offset by slowdowns from the Forest Products and Metals &amp; Mining industry groups, as these clients faced challenging economic conditions with depressed oil and base metal
prices. Our Government market unit achieved revenues before reimbursements of $777 million in 1999, an increase of 42% over 1999, primarily as the result of strong growth in the global postal marketplace as well as a significant expansion of work
undertaken for the United States federal government.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating Expenses</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses in 1999 were $9,047 million, an increase of $1,191 million, or 15%, over 1998, and remained constant
as a percentage of revenues at 82% in 1998 and 1999. In March 1999, as a result of changes occurring in the marketplace and the slowdown in demand for large-scale systems implementation, we implemented cost-saving initiatives that resulted in a cost
level consistent with the anticipated lower growth in demand. In addition, due to the increased demand for electronic commerce services and products, we began to retrain client service personnel to be better equipped to meet the change in the nature
of services being demanded as the market moved from requirements for enterprise business systems skills to electronic commerce skills.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Services</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services was $6,986 million in 1999, an increase of $861 million, or 14%, over 1998, and a decrease as a
percentage of revenues from 64% in 1998 to 63% in 1999. Cost of services before reimbursable expenses was $5,457 million in 1999, an increase of $756 million, or 16%, over 1998 and remained constant as a percentage of revenues before reimbursements
at 57% in 1998 and 1999.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and Marketing</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing expense was $790 million in 1999, an increase of $94 million, or 14%, over 1998, and remained
constant as a percentage of revenues at 7% in 1998 and 1999. Included in sales and marketing expense was a comprehensive marketing and identity initiative that we undertook at the beginning of 1999. We launched a new signature trademark and visual
identity based on our former name and increased related media efforts. This required the worldwide reissuing of all our communications, marketing and media materials. We also made significant investments in new electronic commerce-related service
offerings to establish a leadership position in this emerging market space.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and Administrative Costs</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs were $1,271 million in 1999, an increase of $236 million, or 23%, over 1998, and an
increase as a percentage of revenues from 11% in 1998 to 12% in 1999. The major driver of this increase was the transition of the provision of internal support services from Andersen Worldwide to us. As a result, we established separate financial
systems and support, data and voice networks, and treasury management, credit and partnership accounting functions that were previously handled by Andersen Worldwide. During the transition period, we temporarily incurred duplicate costs for these
services from Andersen Worldwide.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating Income</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income was $2,032 million in 1999, an increase of $249 million, or 14%, over 1998, and remained constant as a
percentage of revenues at 18% in 1998 and 1999. Operating income decreased as a percentage of revenues before reimbursements from 22% in 1998 to 21% in 1999.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on Investments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on investments totaled $92 million for 1999, primarily related to the sale of a portion of our investment in a
marketable security purchased in 1995.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest Income</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income was $60 million in 1999. In 1998, Andersen Worldwide managed all interest income and expense activities
on behalf of Accenture and Arthur Andersen and the interest cost was allocated on a net basis by a formula based on net assets employed and resulted in no interest income being allocated to Accenture.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Income (Expense)</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other expense was an expense of $5 million in 1999 and an expense of $6 million in 1998.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in Losses of Affiliates</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in losses of affiliates was a loss of $6 million in 1999 compared to a loss of $1 million in 1998.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for Taxes</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes were $123 million in 1999, an increase of $49 million over 1998. This increase was due to increased taxable income
in some of our entities that were subject to entity-level tax.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>Quarterly Results</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following tables present unaudited quarterly financial information for each of our last six fiscal quarters on a
historical basis. We believe the quarterly information contains all adjustments, consisting only of normal recurring adjustments, necessary to fairly present this information. As a professional services organization, we anticipate and respond to
demand from our clients. Accordingly, we have limited control over the timing and circumstances under which our services are provided. Typically, we show slight increases in our first-quarter revenues as a result of billing rate increases and the
addition of new hires. We typically experience minor declines in revenues for the second and fourth quarters because of an increase in vacation and holiday hours in those quarters. For these and other reasons, we can experience variability in our
operating results from quarter to quarter. The operating results for any quarter are not necessarily indicative of the results for any future period.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="615" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=17 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Three months ended</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>November 30,
<BR>
1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 29,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>May 31,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>August 31,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>November 30,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February&nbsp;28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=17 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in millions)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Revenues:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues before
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,412</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,272</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2561</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,507</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,831</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,882</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">364</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">436</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">501</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">487</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">407</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">502</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,776</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,708</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,062</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,994</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,238</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,384</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Operating expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services:*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services before
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reimbursable expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,356</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,304</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,340</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,487</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,384</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,560</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursable expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">364</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">436</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">501</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">487</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">407</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">502</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,720</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,740</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,841</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,974</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,791</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,062</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">199</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">222</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">230</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">232</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">202</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">251</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">318</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">322</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">296</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">360</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">376</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">389</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reorganization and rebranding
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;costs</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">30</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">159</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,237</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,284</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,367</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,566</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,399</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,861</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Operating income*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">539</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">424</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">695</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">428</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">839</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">523</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Gain on investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">68</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">200</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">266</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">39</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">218</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(30</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">13</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">23</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest expense</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(7</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(5</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(6</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(6</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(4</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(6</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Other income (expense)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">17</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Equity in losses of affiliates</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(4</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(3</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(2</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(37</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(20</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(21</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Income before taxes*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">616</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">643</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">983</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">465</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,063</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">503</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">42</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">71</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">81</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">49</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">53</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">83</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Income before cumulative change in
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;accounting*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">574</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">572</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">902</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">416</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,010</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">420</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Cumulative effect of accounting
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;change</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">188</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;distributions*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;574</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;572</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;902</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;416</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,198</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;420</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>
<DIV ALIGN="left">


</DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Excludes payments for partner distributions</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues in the second quarter of 2000 were seasonably down from the first quarter, as were fourth- quarter revenues
compared to third-quarter revenues. However, the decrease in revenues during the fourth quarter of 2000 was not as pronounced as would normally be the case because of the increase in demand that occurred after Year 2000 concerns proved to be
minimal. Similarly, while revenues in the first quarter of 2001 were seasonally up, revenues in the second quarter of 2001 were slightly above the first quarter as strong growth overcame the typical seasonal decline.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services as a percentage of revenues in the first through fourth quarters of 2000 and the first two quarters of
2001 was 62%, 64%, 60%, 66%, 55% and 61%, respectively. The decrease in cost of services as a percentage of revenues in the third quarter of 2000 resulted from significantly higher chargeability and a higher number of workdays in the
quarter.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The increase in cost of services as a percentage of revenues in the fourth quarter of 2000 as compared to the prior
three quarters resulted from increased vacation time and fewer available workdays in the quarter. In addition, subcontractor, training, legal and other costs were higher than in prior quarters.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The decrease in cost of services as a percentage of revenues in the first and second quarters of 2001 from the first and
second quarters of 2000 resulted from increased chargeability and lower compensation costs resulting from the promotion of 1,286 employees to partner effective September 1, 2000. This lower compensation cost also resulted in lower sales and
marketing expense in the first and second quarters of 2001, although in the second quarter of 2001 additional spending on new strategy-development initiatives, particularly in the Communications &amp; High Tech market unit, partially offset these
reductions. The increase in cost of services from 55% of revenues in the first quarter of 2001 to 61% in the second quarter of 2001 resulted primarily from lower chargeability levels as we increased headcount to meet increased client service
demand.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the first quarter of 2001, we also began incurring one-time costs to rebrand our organization as required by the
arbitration and other costs related to our transition to a corporate structure. These non-recurring costs totalled $30 million in the first quarter of 2001 and $159 million in the second quarter of 2001.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our strategy is to limit the growth in general and administrative costs below the growth in revenues through
cost-management initiatives.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income in the second quarter of 2001 was $523 million, a 23% increase over the second quarter of 2000.
Excluding one-time rebranding and reorganization costs, operating income would have been $682 million, or a 61% increase over the second quarter of 2000. Partnership income before partner distributions was $420 million in the second quarter of 2001,
or a 27% decrease from the second quarter of 2000. Excluding these one-time rebranding and reorganization costs and gains (losses) on investments, partnership income before partner distributions would have been $609 million, or a 64% increase over
the second quarter of 2000.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The adoption of SFAS 133 resulted in cumulative income of $188 million on September 1, 2000, which represents the
cumulative unrealized gains resulting from changes in the fair market value of equity holdings considered to be derivatives under SFAS 133.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We expect to record a substantial net loss in the fiscal quarter ended May 31, 2001, primarily as a result of
approximately $839 million for costs associated with our transition to a corporate structure.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We expect to record a substantial net loss in the fiscal quarter ended August 31, 2001, primarily as a result of the net
nonrecurring compensation cost of approximately $960 million resulting from the grant of restricted share units in connection with the offering.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>Liquidity and Capital Resources</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have historically relied on cash flow from operations, partner capital contributions and bank credit facilities to
satisfy our liquidity and capital requirements. However, each year a portion of the partner distributions have been made on a deferred basis, which significantly strengthened our working capital and limited our external borrowings. In the future, we
may need to raise additional funds through public or private debt or equity financings in order to:</FONT></DIV>
<DIV><FONT SIZE="3">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">take advantage of opportunities, including more rapid expansion;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">acquire complementary businesses or technologies;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">develop new services and products; or</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">respond to competitive pressures.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our balance of cash and cash equivalents was $1,342 million at February 28, 2001. The balance of cash and cash
equivalents was $1,111 million at August 31, 1999 and $1,271 million at August 31, 2000, an increase of $160 million, or 14%, due to increased year-over-year earnings, including earnings from the sale of marketable securities, which was partially
offset by increases in distributions to partners, purchases of equity investments and escrow of amounts due pending the final resolution of the arbitration with Andersen Worldwide and Arthur Andersen. In addition, our market units continued to
effectively manage the timing of billings to and collections from clients, resulting in a relatively low net investment in the working capital components most directly affected by our client service operations: receivables from clients, unbilled
services and deferred revenue.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities was $1,393 million for the six months ended February 28, 2001, an increase of
$381 million from the six months ended February 29, 2000. Net cash provided by investing activities was $31 million for the six months ended February 28, 2001, a decrease of $53 million from the six months ended February 29, 2000, as proceeds from
the sale of investments of $357 million were partially offset by purchases of new investments and by capital expenditures. Cash used in financing activities was $1,339 million for the six months ended February 28, 2001, an increase of $179 million
from the six months ended February 29, 2000. This included normal distributions to partners of $1,229 and a payment of $278 million to Andersen Worldwide and Arthur Andersen as partial payment of amounts due related to the final resolution of the
arbitration. The remaining $282 million due to Andersen Worldwide and Arthur Andersen was paid in March 2001. See &#147;Certain Relationships and Related Transactions&#151;Relationship with Andersen Worldwide and Arthur Andersen.&#148;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities was $2,131 million for 2000, a decrease of $63 million from 1999. Net cash
provided by investing activities was $107 million for 2000, an increase of $337 million over 1999 as proceeds from the sales of investments of $576 million were partially offset by purchases of new investments and by capital expenditures. Cash used
in financing activities was $2,034 million for 2000, an increase of $464 million over 1999 due primarily to an increase in partner distributions and cash transfers into an escrow account pending final resolution of the arbitration. Until August 7,
2000, the date the arbitration award became effective, Andersen Worldwide, as agent for the Accenture and Arthur Andersen member firms, facilitated the cost-sharing provisions of various member firm agreements between the individual Accenture and
Arthur Andersen member firms. Amounts due to Andersen Worldwide under these member firm agreements were $233 million, $280 million and $314 million in 1998, 1999 and 2000, respectively.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The balance of paid-in capital was $352 million at August 31, 1999, $403 million at August 31, 2000, and $524 million at
February 28, 2001. Substantially all paid-in capital was repaid to partners in May 2001.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since we have historically deferred the distribution of a portion of our partners&#146; current-year earnings into the
subsequent fiscal year, these earnings have been available for a period of time to meet liquidity and working capital requirements. These distributable earnings, temporarily retained and distributed in the subsequent fiscal year, totaled $896
million, $1,130 million and $1,290 million at August 31, 1999, 2000 and February 28, 2001, respectively. We expect to distribute to our partners any pre-incorporation earnings undistributed as of the date of the consummation of our transition to a
corporate structure in one or more installments by December 31, 2001.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On August 31, 1998, we entered into a $450 million unsecured multi-currency revolving credit facility with a syndicate
of banks led by Morgan Guaranty Trust Company of New York for general working capital purposes. The syndicated facility, available through August 31, 2003, provides committed financing and/or letters of credit in the Group of Seven currencies and
bid option financing in a number of other currencies. Committed financing is provided at the prime rate or at the London interbank offered rate plus a spread, which varies according to a pricing grid, and is subject to annual commitment fees. At
February 28, 2001, we had $63 million in borrowings and $15 million in letters of credit outstanding under the syndicated facility.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our syndicated facility requires us to (1) limit liens placed on our assets to (a) liens incurred in the ordinary course
of business (subject to certain limitations) and (b) other liens securing aggregate amounts not in excess of 30% of our total assets and (2) maintain a maximum debt to cash flow ratio of one to one. We are in compliance with the terms of this
facility. We have amended the syndicated facility and our other credit facilities in connection with our transition to a corporate structure to maintain our existing credit capacity. As a corporation, we expect to have greater access to debt capital
markets and may replace or supplement current credit capacity with other sources of debt financing.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have also entered into a $420 million revolving credit facility, dated as of June 22, 2001, with a syndicate of banks
led by Bank of America, N.A. for working capital, capital expenditures or other business purposes. The terms of the Bank of America facility are substantially similar to the terms of the Morgan Guaranty facility.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We maintain four separate bilateral, uncommitted, unsecured multi-currency revolving credit facilities. As of February
28, 2001, these facilities provided for up to $376 million of local currency financing in countries that cannot readily access the Morgan Guaranty syndicated facility. We also maintain local guaranteed and non-guaranteed lines of credit. As of
February 28, 2001, amounts available under these facilities totaled $241 million. At February 28, 2001, we had $150 million outstanding under these various facilities. Interest rate terms on the bilateral revolving facilities and local lines of
credit are at market rates prevailing in the relevant local markets.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture LLP, our United States subsidiary, was also the obligor under a collateral trust note in the principal amount
of $18 million, which financed our Northbrook, Illinois, technology campus. The principal amount was payable in varying annual installments through 2007 and was secured by a guarantee from Andersen Worldwide. We prepaid this obligation on May 31,
2001.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, we are co-obligors with Arthur Andersen on term debt obligations of approximately $109 million consisting
of $75 million of unsecured debt due before the end of May 2002 and a $34 million collateral trust note, secured by Arthur Andersen&#146;s training center in St. Charles, Illinois, due in installments through 2011. Arthur Andersen has made principal
and interest payments with respect to these obligations in the past, and we expect them to continue making these payments. Arthur Andersen has agreed with us to prepay the $34 million collateral trust note on or before August 1, 2001, and they have
eliminated us as a co-obligor on the $75 million of unsecured debt as of May 31, 2001.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During 1998, 1999 and 2000, and for the six months ended February 28, 2001 we incurred $271 million, $305 million, $315
million and $180 million in capital expenditures, respectively, primarily for technology assets, furniture and equipment and leasehold improvements to support our operations. We expect fiscal 2001 capital expenditures for technology assets,
furniture and equipment and leasehold improvements for existing and new office space to be in the range of $350 million to $450 million. During November 1999, we formed Accenture Technology Ventures to select, structure and manage a portfolio of
equity investments. Accenture Technology Ventures invested $18 million, $153 million and $145 million during 1999, 2000 and the six months ended February 28, 2001, respectively. As of May 31, 2001, we had commitments for acquisitions and investments
of $67 million. We expect Accenture Technology Ventures to invest up to $340 million in fiscal 2001. We also received $111 million and $79 million in 2000 and the six months ended February 28, 2001, respectively, in equity from our clients and
alliance partners as compensation for current and future services. Amounts ultimately realized from these equity securities may be higher or lower than amounts recorded on the measurement dates.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In limited circumstances, we agree to extend financing to clients. The terms vary by engagement, but generally we
contractually link payment for services to the achievement of specified performance milestones. We finance these client obligations primarily with existing working capital and bank financing in the country of origin. As of August 31, 1998, 1999,
2000 and February 28, 2001, $232 million, $232 million, $223 million and $170 million were outstanding for 18, 16, 14 and 14 clients, respectively. These outstanding amounts are included in unbilled services and other non-current assets on our
historical combined balance sheets.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We do not expect that our transition to a corporate structure will materially change our working capital requirements.
Prior to the consummation of our transition to a corporate structure, we deferred the distribution of a substantial portion of our earnings to our partners into the subsequent fiscal year. This deferral enabled us to fund the capital requirements of
our business without significant external financing. We expect to replace this deferral through retained earnings which will result from the substantial reduction in partner compensation in our corporate structure. We expect our liquidity needs on a
short- and long-term basis to be satisfied by cash flow from operations, increased debt capacity under existing and/or new credit facilities, the net proceeds of the offering and increased financial flexibility that will result from our transition
to a corporate structure. We expect to repay approximately $245 million of amounts outstanding under our revolving credit facilities with the net proceeds from the offering. This increase in debt capacity will replace working capital historically
funded through the deferral of the distribution of partnership earnings and the contribution of capital by our partners. We are not dependent on the proceeds of the offering to meet normal operating liquidity requirements over the next 12 months. We
believe our change to a corporate structure will provide financing flexibility to meet ongoing and future capital resource needs, which include implementing our strategy, driving business initiatives and providing equity for investment and
acquisitions.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Market Risk</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Foreign Currency Risk</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are exposed to foreign currency risk in the ordinary course of business. We hedge cash flow exposures for our major
countries using a combination of forward and option contracts. Principal currencies hedged are the Australian dollar, Canadian dollar, euro currencies, Japanese yen, Norwegian krone, Swedish krona, Swiss franc and British pound. These instruments
are generally short-term in nature, with typical maturities of less than one year. From time to time, we enter into forward or option contracts of a longer-term nature.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of specific risk analysis, we use sensitivity analysis to determine the effects that market risk exposures
may have on the fair value of our hedge portfolio. The foreign currency exchange risk is computed based on the market value of future cash flows as affected by the changes in the rates attributable to the market risk being measured. The sensitivity
analysis represents the hypothetical changes in value of the hedge position and does not reflect the opposite gain or loss on the underlying transaction. As of August 31, 1999, a 10% decrease in the levels of foreign currency exchange rates against
the U.S. dollar with all other variables held constant would result in a decrease in the fair value of our financial instruments of $10 million, while a 10% increase in the levels of foreign currency exchange rates against the U.S. dollar would
result in an increase in the fair value of our financial instruments of $24 million. As of August 31, 2000, a 10% decrease in the levels of foreign currency exchange rates against the U.S. dollar with all other variables held constant would result
in an increase in the fair value of our financial instruments of $6 million, while a 10% increase in the levels of foreign currency exchange rates against the U.S. dollar would have almost no effect on the fair value of our financial instruments due
to the fact that our long and short forward positions almost completely offset each other. As of February 28, 2001, a 10% decrease in the levels of foreign currency exchange rates against the U.S. dollar with all other variables held constant would
result in a decrease in the fair value of our financial instruments of $1.2 million, while a 10% increase in the levels of foreign currency exchange rates against the U.S. dollar would result in an increase in the fair value of our financial
instruments of $1.2 million.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Interest Rate Risk</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the last three years, the majority of our debt obligations have been short-term in nature and the associated
interest obligations have floated relative to major interest rate benchmarks, such as the London interbank offered rate. While we have not entered into any derivative contracts to hedge interest rate risks during this period, we may do so in the
future.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The interest rate risk associated with our borrowing and investing activities at August 31, 2000 and at February 28,
2001 is not material in relation to our combined financial position, results of operations or cash flows. We have not used derivative financial instruments to alter the interest rate characteristics of our investment holdings or debt
instruments.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Equity Price Risk</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have marketable equity securities that are subject to market price volatility. The investments are classified as
available-for-sale securities and are recorded in the balance sheet at fair value with unrealized gains or losses reported in the accumulated other comprehensive income within partners&#146; capital. We have not entered into any derivative contracts
to hedge the risks associated with the portfolio of equity investments.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our investment portfolio also includes warrants in both publicly-traded and privately-held companies. The
privately-held investments are inherently risky because the markets for the technologies or products they develop are less established than those of most publicly-traded companies and because we may be unable to liquidate our investments if desired.
Beginning September 1, 2000, warrants in publicly-traded companies and certain warrants in privately-held companies are deemed derivatives by SFAS 133. As such, they are recorded in the balance sheet at fair value with unrealized gains or losses
recorded in the income statement. The following analysis presents the hypothetical change in the fair value of our marketable equity securities classified as available-for-sale at August 31, 1999 and August 31, 2000, assuming the same hypothetical
price fluctuations of plus or minus 10%, 20% and 30%.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Valuation of investments assuming
<BR>
indicated decrease</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH ROWSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>August 31,
<BR>
1999 fair
<BR>
value</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Valuation of investments assuming
<BR>
indicated increase</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>-30%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>-20%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>-10%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>+10%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>+20%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>+30%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=13 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in thousands)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Marketable Equity
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$211,713</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$241,958</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$272,202</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$302,447</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$332,692</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$362,936</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$393,181</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="4">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Valuation of investments assuming
<BR>
indicated decrease</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH ROWSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>August 31,
<BR>
2000 fair
<BR>
value</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Valuation of investments assuming
<BR>
indicated increase</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>-30%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>-20%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>-10%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>+10%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>+20%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>+30%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=13 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in thousands)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Marketable Equity
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$528,016</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$603,446</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$678,877</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$754,308</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$829,739</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$905,170</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$980,600</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following analysis presents the hypothetical change in the fair value of our marketable equity securities classified
as available-for-sale and warrants in privately-held companies deemed to be derivatives by SFAS 133 at February 28, 2001, assuming the same hypothetical price fluctuations of plus or minus 10%, 20% and 30%. </FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Valuation of investments assuming
<BR>
indicated decrease</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH ROWSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February
<BR>
28, 2001
<BR>
fair value</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Valuation of investments assuming
<BR>
indicated increase</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>-30%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>-20%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>-10%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>+10%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>+20%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>+30%</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=13 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(in thousands)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Marketable Equity Securities
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and Warrants Deemed
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivatives by SFAS 133</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$148,556</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$169,779</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$191,001</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$212,223</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$233,446</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$254,668</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$275,891</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Recently Issued Accounting Pronouncements</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statement of Position 98-1, &#147;Accounting for the Costs of Computer Software Developed or Obtained for Internal
Use,&#148; was adopted as of September 1, 1999. This statement addresses how to distinguish internal-use software from software to be sold, which costs are to be capitalized, when capitalization begins and ends, and guidelines for amortization and
evaluating impairments. Under SOP 98-1, general and administrative costs are not capitalized. Adoption of this statement did not have a material effect on our results of operations or financial condition.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In June 1998, the Financial Accounting Standards Board issued SFAS 133 which, as amended, establishes accounting and
reporting standards for derivative instruments and hedging activities. It requires an entity to recognize all derivatives as either assets or liabilities on the balance sheet and measure those instruments at fair value. We adopted SFAS 133 in the
first quarter of 2001, which ended on November 30, 2000. The adoption of SFAS 133 resulted in cumulative income of $188 million on September 1, 2000, and investment losses of $127 million during the six months ended February 28, 2001.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In December 1999, the Staff of the Securities and Exchange Commission issued Staff Accounting Bulletin No. 101, which
summarizes the Staff&#146;s views in applying generally accepted accounting principles to revenue recognition in financial statements. Our revenue recognition principles are consistent with the guidance set forth in SAB 101.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx12"></A>
BUSINESS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Overview</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture is the world&#146;s leading provider of management and technology consulting services and solutions. We had
approximately $12.7 billion of revenues for the 12 months ended February 28, 2001. We have more than 75,000 employees based in more than 110 offices in 46 countries delivering to our clients a wide range of consulting, technology and outsourcing
services. We operate globally with one common brand and business model designed to enable us to serve our clients on a consistent basis around the world. We work with clients of all sizes and have extensive relationships with the world&#146;s
leading companies and governments. We serve 84 of the <I>Fortune</I> Global 100 and more than half of the <I>Fortune</I> Global 500. In total, we have served more than 4,000 clients on nearly 18,000 engagements over the past five fiscal
years.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Industry Background</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The global business environment is changing at an accelerating pace, presenting opportunities and challenges for
companies around the world. A heightened focus on productivity, increased competition and the commercialization of the Internet and other emerging technologies are among the forces driving this change. To succeed, businesses must identify and
respond rapidly to market trends; develop new products, services, skills and capabilities; use technology effectively; and, in some cases, restructure or reinvent themselves. In this dynamic, competitive environment, decisions with respect to
technology have become increasingly important and complex. This has created a growing need for professionals with experience in using technology to help drive business strategy.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the 1980s and early 1990s, businesses worldwide focused on improving their internal operational efficiency through
the use of technology, automating functions such as accounting, human resources management and manufacturing planning. Today, enterprises seek to deploy a more far-reaching set of technological initiatives across business functions, organizations,
customers, business partners and suppliers. For example, businesses are increasingly using relationship-management tools and technologies such as data mining, which search large databases to extract relevant information and synthesize data, to gain
insight into and improve interactions with customers and alliance partners; virtual research and development to accelerate new product development efforts; business exchanges to manage demand; outsourcing of business functions to transform and
efficiently manage business processes; and collaborative software tools to facilitate product design and development among geographically dispersed teams. In addition, technologies such as wireless and broadband promise to fundamentally change the
customer experience for businesses and individual customers alike.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In this environment, information technology services projects are becoming more complex in scale and scope. At the same
time, successful implementation of major new enabling technologies has become critical to organizations to achieve growth or improvements in efficiency and productivity. As a result, management and information technology consulting services
providers have an increasingly important role in helping business leaders create value. Businesses and governments are increasingly turning to these service providers for access to specialized expertise and services that are either not readily
available from internal resources or not in their core competency. The worldwide business consulting and information technology services market, excluding hardware support and processing services, is expected to grow from $284 billion in 2000 to
$411 billion in 2003, a compound annual growth rate of 13.2%, according to IDC (International Data Corporation). <B></B>Key drivers of this market growth are expected to include demand for supply chain management, customer relationship management
and Internet services, which IDC has estimated will grow at compound annual rates of 36%, 30% and 38%, respectively, over the next four years.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clients increasingly demand that comprehensive solutions to their business challenges be delivered on an accelerated
basis because of increasingly complex and competitive market conditions. The management consulting and information technology services providers who will succeed in this environment will be those who undertake the research and development necessary
to identify key trends, invest significant human and financial capital in the development of market-ready solutions at the beginning of major industry and technological cycles, and create innovative, cost-effective means to deliver services in a
predictable manner. To deliver value to clients, these service providers must continuously develop and expand their expertise in new technologies, maintain a global presence and offer a full range of expertise and services. They must also have
access to capital to fund technology research and development and to create market-ready solutions.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Our Solution and Competitive Strengths</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As the world&#146;s leading provider of management and technology consulting services and solutions, we believe that we
are well positioned for continued growth in a marketplace characterized by an increasing pace of technological change and complex business challenges. Our approach is to create value for clients through our network of businesses by leveraging our
industry knowledge, service offering expertise and insight into and access to emerging technologies. With this comprehensive approach, we are able to move clients forward in every part of their business, from strategic planning to day-to-day
operations. This often includes helping clients identify and enter new markets, increase revenues in existing markets and deliver their products and services more effectively and efficiently. We believe that our approach, together with the following
competitive strengths, distinguishes us in this marketplace.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Seamless Execution on a Global Scale.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>We operate globally with one common brand and
business model designed to allow us to serve our clients on a consistent basis around the world. We believe that our global network of more than 75,000 employees in 46 countries provides us with a significant advantage in developing and delivering
solutions to the most complex strategic, technological and operational opportunities and challenges that our clients face. Our consulting professionals around the world share skills, insight, knowledge of local markets and service line expertise,
and receive a common base of extensive training to ensure the same high-quality services and solutions for clients globally.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Deep Industry Expertise.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>We have developed specialized expertise and experience in the
18 industry groups in which our professionals work. Our industry focus enables our professionals to provide services with a thorough understanding of industry evolution, business issues and applicable technologies, and ultimately to deliver
solutions tailored to each client&#146;s industry.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Broad and Evolving Service Offerings.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>We offer our clients what we believe is the
broadest and deepest service offering expertise in the industry. Our eight service lines, which span the global market units, are Strategy &amp; Business Architecture, Finance &amp; Performance Management, Human Performance, Customer Relationship
Management, Supply Chain Management, Solutions Engineering, Technology Research &amp; Innovation, and Solutions Operations. More than 8,000 Accenture professionals are dedicated full time to a specific service line, helping to develop knowledge,
assets and innovative solutions for clients across all of the industries we serve. These subject matter experts complement the more than 55,000 professionals working within our global market units who apply their knowledge of a specific service line
to clients within an industry group.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Enduring Relationships with the World&#146;s Leading Corporations and Governments.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>We
work with chief executive officers and other senior management at many of the world&#146;s largest and most successful organizations, including the top companies in virtually every industry sector, and

governments worldwide. We serve 84 of the <I>Fortune</I> Global 100 and more than half of the <I>Fortune</I> Global 500. Our partners and senior executives are responsible for both winning client engagements and delivering service to clients,
ensuring continuity between what we promise to our clients and what we deliver. We believe that our commitment to client satisfaction serves to strengthen and extend our relationships. For example, more than 80% of our top 100 clients in fiscal year
2000, ranked by revenues before reimbursements, have been our clients for each of the last five years, and more than 50% have been clients for at least 10 years. Our clients typically retain us on a non-exclusive basis.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Technology Innovation and Implementation.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Technology is part of our heritage and is
fundamental to our service offerings. We are a leader in the development and implementation of technology-based business solutions that create value for our clients. In addition, our innovative tools, methodologies, software and other intellectual
property enhance our ability to deploy technical solutions, particularly across large-scale, global platforms.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Distinctive People and Culture.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our most important asset is our people. We are deeply
committed to the long-term development of our employees, whom we recruit from universities and industry. Each professional receives extensive and focused technical and managerial skills development training throughout his or her career with us,
including 750 hours of training for our entry-level professionals in their first five years. In fiscal year 2000, we spent $580 million, or nearly 5% of our revenues, on training and development. We seek to reinforce our employees&#146; commitment
to our clients, culture and values through a comprehensive performance review system and a competitive compensation philosophy that reward individual performance and teamwork. In addition, in connection with the offering, we intend to grant equity
awards to our employees in order to promote employee ownership of our company and improve retention. After the offering, we will preserve the management practices, including the continued use of the &#147;partner&#148; title, that reinforce our
partnership culture and the collaboration, motivation, alignment of interests and sense of ownership and reward that our partnership culture has sustained.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Proven, Tenured and Highly Motivated Management Team.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our more than 2,400 partners
manage our day-to-day activities and client relationships and have an average of 14 years of experience with us. In addition to establishing and supporting enduring client relationships, our partners focus on mentoring our professionals at all
levels to develop the next generation of firm leadership. None of our partners will be selling shares in the offering and, immediately following the offering, our partners will own approximately 82% of the equity in our business, or 80% if the
underwriters exercise their overallotment option in full.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Highly Diversified Business by Industry, Geography and Technology.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our global business
is highly diverse. We operate across virtually every industry and geography, delivering a wide range of business and technology solutions and services to address the strategic and functional business challenges that organizations face. As a result,
we can deploy our professionals anywhere in the world in response to evolving marketplace opportunities or challenges. Not only does our diversification enable us to take advantage of changing business, technological and economic conditions
worldwide, it also allows us to manage through geographic and industry market cycles.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>History of Staying Ahead of Industry Trends.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Throughout our history, we have reinvented
ourselves to capitalize on evolving management trends and technologies for the benefit of our
clients. We pioneered systems integration and business integration; we led the deployment of enterprise resource planning, customer relationship management and electronic services; and we have established ourselves as a leader in today&#146;s
marketplace. We constantly adapt our service offerings in anticipation of future industry trends.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Our Strategy for Growth</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We strive to be a global &#147;market maker, architect and builder of the new marketplace, developing innovations to
improve the way the world works and lives.&#148; We intend to help create new markets, design new business models, and deliver business and technology solutions that provide value to our clients. We believe that our network of businesses approach
provides us with a fundamental advantage in executing our strategic plans. Our global market units and service lines develop offerings and provide expertise to clients. Our affiliates, alliances and venture capital portfolio companies provide us
with insight into and access to emerging business models, products and technologies, enhancing the ability of our global market units and service lines to deliver value to clients.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To serve our clients and grow our business, we aggressively pursue the following strategic imperatives:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Deliver &#147;Value@Speed&#148; for Our Clients.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Successful client relationships depend
on our ability to help clients quickly deliver more value to their customers and shareholders. We have implemented a global initiative, called Value@Speed, to help clients accelerate development of top- and bottom-line growth. Through this
initiative we develop proprietary offerings aimed at creating value within specific industries. We do this by developing an in-depth understanding of how the industries are structured and operate, key trends within the industries and how companies
are affected by these trends, and how companies can create or destroy value. Our strategy is to work closely with client executives to implement value-generating solutions that contribute to superior financial performance and enhance productivity on
an accelerated basis.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Accelerate and Ride the &#147;Waves of Change.&#148;&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Industry today is characterized by
ongoing waves of technological and business change that present our clients with significant value-creation opportunities. We leverage our network of businesses to help organizations apply business and technology solutions that create value by
realizing the opportunities presented by these waves of change. We believe that our significant scale and access to capital will enable us to continue to make the investments in research and development, tools and methodologies and intellectual
property necessary to anticipate these waves and rapidly develop and deliver business and technology solutions based on them.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Create Asset-Based Solutions to Drive Superior Results.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>To deliver value to our clients
more quickly, we create assets, such as software and business architectures and methodologies for business processes, that enable us to rapidly implement market-ready solutions for our clients. One example is the 24-hour online multi-channel
transaction processing software asset we developed for the banking industry, which has been installed in 89 financial institutions in 16 countries. We recognize the value of intellectual property in the new marketplace and vigorously create, harvest
and protect our intellectual property. We have filed more than 600 patent applications in the United States and other jurisdictions in the last two years and have received more than 40 United States patents.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Leverage Our Expertise in Transformational Outsourcing.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>We are helping our clients
create value by leveraging information technology to reinvent and transform fundamental business operations. Using our knowledge of consulting, business process infrastructure and applications

outsourcing, we believe we are well positioned to develop and implement new business models and operate critical business functions for clients around the world. We refer to the creation of new and innovative ways to manage and operate business
functions in a manner that helps refocus the cost base around the business&#146; strategic goals as transformational outsourcing. We pursue transformational outsourcing opportunities, which require a combination of consulting and outsourcing skills.
Our strategy is to leverage our industry expertise and technology and business process skills to help clients discover and create new business models and, in many cases, transform entire business functions.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Aggressively Grow in Attractive Geographic Markets.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Demand for the services we provide
is growing rapidly in both established and emerging economies, such as parts of Asia and Latin America. We have offices in 46 countries around the world and, while we are a leader in the majority of markets in which we operate, we believe there are
significant opportunities for us to grow in multiple geographies, including by way of investment. Given the fragmented nature of the worldwide business consulting and information technology services market, and based on our market knowledge of the
markets in each of the 46 countries in which we operate, we believe there is room for us to increase our market share on a global basis.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Foster a Great Place to Work.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>We derive our success from the ability of our
professionals to help our clients succeed in today&#146;s complex business environment. Our ability to hire, train, develop and retain our professionals is critical to our enterprise. To attract and retain these professionals, we have a &#147;great
place to work&#148; program, which includes performance metrics to hold our leadership accountable for employee satisfaction and retention. In an early initiative in this program, we promoted 1,286 new partners in September 2000 to further
incentivize our professionals at an earlier stage in their careers with us. Our goal is to create an environment in which we can:</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="8%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="88%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">develop inspiring leaders;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="8%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="88%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">cultivate a diverse workforce;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="8%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="88%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">create interesting work;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="8%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="88%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">provide continuous learning;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="8%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="88%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">support flexible workstyles; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="8%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="88%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">provide competitive rewards.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="6%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="94%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The marketplace for high-caliber consulting professionals has become very competitive in many parts of the world, and we are
committed to providing attractive current compensation and significant long-term incentives for our employees.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Enhance Our Operational Efficiency.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>As experts in operational efficiency, we plan to
provide value to our clients as well as our shareholders by maintaining our organization as a cost-effective, technology-enabled company with strong financial discipline. This includes continuous improvement in our client delivery capabilities and
cost structure. We intend to continue to electronically enable our own business processes in areas such as human resources, training, recruiting, performance management and finance and operations management. Our continued focus on efficiency is
intended to optimize the performance of our organization as we increase our scale and scope.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>Management and Technology Consulting Services and Solutions</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our management and technology consulting services and solutions business is structured around five global market units,
which together comprise 18 industry groups. Eight service lines support the global market units and provide access to the full spectrum of business and information technology solutions. Client engagement teams typically consist of industry experts,
service line specialists and consultants with local market knowledge. Our client teams are complemented by our solution centers, which allow us to capture replicable components of methodologies and technologies and use these to create tailored
solutions for our clients quickly and cost-effectively.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Global Market Units</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table shows the organization of our five global market units and 18 industry groups.</FONT></DIV>

<DIV><FONT SIZE="3">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="98%" VALIGN="top"> <DIV ALIGN="center"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times"><B>Global Market Units</B></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="3">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="540" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Communications
<BR>
&amp; High Tech</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Financial
<BR>
Services</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Products</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Resources</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Government</B></FONT></TH>
</TR>
<TR>
<TD COLSPAN=9 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=9><FONT SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Industry Groups</FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Industry Groups</FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Industry Groups</FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Industry Groups</FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Industry Groups</FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD COLSPAN=9 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=9><FONT SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT
SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Communications
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Electronics &amp;
<BR>
&nbsp;&nbsp;&nbsp;High Tech
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Media &amp; Entertainment</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT
SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Banking
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Health Services
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Insurance</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT
SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Automotive
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Consumer Goods &amp;
<BR>
&nbsp;&nbsp;&nbsp;Services
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Industrial Equipment
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Pharmaceuticals &amp;
<BR>
&nbsp;&nbsp;&nbsp;Medical Products
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Retail
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Transportation &amp;
<BR>
&nbsp;&nbsp;&nbsp;Travel Services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT
SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Chemicals
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Energy</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Forest Products
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Metals &amp; Mining
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;Utilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT
SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Government</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communications &amp; High Tech</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are a leading provider of management and technology consulting services and solutions to the communications, high
technology and media and entertainment industries, which have been among the fastest-growing areas of the global economy. We offer services that help our clients stay ahead of major technology and industry trends, including the proliferation of
wireless devices, next-generation networks, digital content services, Web-enabled platforms and the industry restructuring brought about by the convergence of these technologies. In addition, we have established mobile commerce labs in Europe and
the United States. At these research and development facilities we explore how new mobile technologies, such as wireless, can be integrated with existing legacy and Internet systems and applied in new and innovative ways.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below sets forth information about our Communications &amp; High Tech global market unit, including
information about revenues before reimbursements and number of employees, as well as a partial list of some of our largest clients for this global market unit:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="11%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="89%" VALIGN="top"> <DIV ALIGN="center"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times"><B>Communications &amp; High Tech</B></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="474" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Year ended
<BR>
August 31, 2000</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Six months ended
<BR>
February 28, 2001</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements (in millions):</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,806</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,666</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percent of revenues before reimbursements:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
</TABLE>


<BR>


<BR>

<TABLE ALIGN="center" WIDTH="144" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Number of employees as
<BR>
of May 31, 2001:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">16,503</FONT></TD>
</TR>
</TABLE>


<BR>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="17%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="83%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Clients</U></FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="37%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; AT&amp;T Corp.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; BellSouth
Corporation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Cable &amp; Wireless
PLC</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Compaq Computer
Corporation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Deutsche Telekom
AG</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Electronic Arts</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; France Telecom</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Infostrada S.p.A.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; LM Ericsson AB</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Microsoft
Corporation</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; Nokia Corporation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Nortel Networks
Corporation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Sony Corporation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Sprint Corporation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Sun Microsystems,
Inc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Telecom Argentina</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Telecom Italia
S.p.A.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Telenor AS</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Texas Instruments,
Incorporated</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Verizon
Communications</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV ALIGN="left">


</DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Communications &amp; High Tech global market unit comprises the following industry groups:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Communications.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our Communications industry group serves many of the world&#146;s
leading wireline, wireless, cable and satellite communications companies. In fiscal year 2000, we served 19 of the 21 telecommunications companies in the <I>Fortune </I>Global 500. We provide a wide range of services designed to help our
communications clients increase margins and market share, improve customer retention, increase revenues, reduce overall costs and accelerate sales cycles. For instance, communications companies have extremely complex billing systems, and we believe
that our industry knowledge and experience have made us the industry leader in developing, implementing and operating billing systems tailored to our communications clients&#146; needs. We have expertise in next-generation networks, as demonstrated
by our numerous patent applications in areas such as high-speed networks, system architectures and bandwidth trading. Over the last decade, we have worked with many of the world&#146;s leading communications companies on a number of strategic,
operational and systems consulting projects. For example, since 1998 we have been managing many of BellSouth&#146;s applications as part of one of the largest information technology outsourcing arrangements in the telecommunications
industry.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Electronics &amp; High Tech.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our Electronics &amp; High Tech industry group serves the
aerospace, defense, electronics, high technology and network communications industries. In fiscal year 2000, we worked with 37 of the 47 aerospace, computer services and software, computer, office equipment, electronics, electrical equipment,
network communications, scientific, photo and control equipment companies in the <I>Fortune </I>Global 500. This industry group provides services in such areas as electronic commerce and strategy and supply chain management. For instance, we helped
Sharp build a Web-based system that enables the company&#146;s large network of office-products dealers and corporate customers to configure and purchase products online, ultimately improving order accuracy and reducing order cycle time. By
providing up-to-the-second order information, the new system enables Sharp&#146;s customers to track the status of their orders online, greatly reducing costly telephone inquiries. We also helped Dell Computer upgrade its already world-class
manufacturing infrastructure as part of an accelerated supply-chain solution. A key
element was a rigorous process-reengineering program that enables Dell to keep no more than a few hours of inventory of parts and supplies on hand, substantially reducing inventory and carrying costs at its manufacturing facilities.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Media &amp; Entertainment.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our Media &amp; Entertainment industry group serves
entertainment, print and publishing companies, as well as innovative new ventures and Internet companies. In fiscal year 2000, we worked with five of the nine entertainment, printing and publishing companies in the <I>Fortune </I>Global 500. Our
Media &amp; Entertainment industry group provides an array of services ranging from customer relationship management to digital content infrastructure. For instance, we have helped several media and entertainment clients design and build electronic
business solutions. We worked with Electronic Arts to design and develop their advanced gaming portal, EA.com. Additionally, we have helped our media and entertainment clients use digital content services and exploit mobile and broadband commerce.
For example, we played a central role in the launch of Qpass, a start-up backed by Accenture Technology Ventures that provides an end-to-end commerce infrastructure for processing transactions across the Internet, wireless and broadband
platforms.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Services</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Financial Services global market unit focuses on the growth opportunities being created by sophisticated customer
relationship management, increased consolidation, business-to-business exchanges, mobile commerce and the electronic enabling of front and back offices of financial, health care and insurance services companies.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below sets forth information about our Financial Services global market unit, including information about
revenues before reimbursements and number of employees, as well as a partial list of some of our largest clients for this global market unit:</FONT></DIV>

<DIV><FONT SIZE="3">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="11%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="89%" VALIGN="top"> <DIV ALIGN="center"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times"><B>Financial Services</B></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="474" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Year ended
<BR>
August 31, 2000</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Six months ended
<BR>
February 28, 2001</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements (in millions):</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,542</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,465</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percent of revenues before reimbursements:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">26</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">26</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
</TABLE>


<BR>


<BR>

<TABLE ALIGN="center" WIDTH="144" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Number of employees as
<BR>
of May 31, 2001:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15,108</FONT></TD>
</TR>
</TABLE>


<BR>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><U>Clients</U></FONT></DIV>


<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="37%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; Allianz</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Allstate Insurance
Company</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; AMP Limited</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; AXA Group</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Banco Bilbao Vizcaya
Argentaria</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Barclays Bank plc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; BSCH</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Clearstream
International</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Credit Suisse
Group</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Deutsche Bank AG</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; Dresdner Bank Group</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; E*TRADE</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; The Goldman Sachs Group,
Inc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; J. P. Morgan Chase &amp;
Co.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Lloyds TSB</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; London Stock
Exchange</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; UnitedHealth Group</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Visa USA</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Washington Mutual,
Inc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Zurich Financial
Services</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Financial Services global market unit comprises the following industry groups:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B></B></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings"><B>&#159;</B></FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"><B></B></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B></B><B><I>Banking.</I></B>&nbsp;&nbsp;&nbsp;&nbsp;In fiscal year 2000, our Banking industry group worked with 49 of the 75
commercial and savings banks, diversified financials and securities companies in the<I> Fortune</I> Global 500. We also work with a variety of new entrants and innovators, such as on-line banks and brokerages. We help these organizations develop and
execute strategies to target, acquire and retain customers more effectively, expand product and service offerings, and leverage new technologies and distribution channels. For example, we helped E*TRADE define and implement its customer relationship
management strategy, which included developing the technology infrastructure and business processes required to generate customer insights. As a result, E*TRADE is able to develop targeted marketing campaigns and strengthen its customer
relationships. We consulted with Visa USA, one of the world&#146;s largest consumer payment systems, as it modernized its core infrastructure, which supports clearing, settlement and authorization transactions between member banks and merchants.
This solution, called Visa Direct Exchange, allows transactions to be processed over a single, flexible, reliable and secure network and messaging architecture. This capability gives Visa USA the flexibility to grow its business to support more than
40 billion transactions annually, with peak capabilities of 10,000 transactions per second.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B></B></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings"><B>&#159;</B></FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"><B></B></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B></B><B><I>Health Services.</I></B>&nbsp;&nbsp;&nbsp;&nbsp;Our Health Services industry group serves integrated healthcare
providers, health insurers, managed care organizations, biotech and life sciences companies and policy-making authorities. In fiscal year 2000, our Health Services industry group served five of the seven health care companies in the <I>Fortune
</I>Global 500. We are helping our clients in the health plan and health insurance area in North America accelerate their business by connecting consumers, physicians and other stakeholders through electronic commerce. For example, we helped
Highmark Blue Cross Blue Shield develop and execute an electronic consumer health management strategy, including separate portals for consumers, providers, groups and agents. In Europe, we are helping create new connections between governments,
physicians and insurers.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B></B></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings"><B>&#159;</B></FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"><B></B></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B></B><B><I>Insurance.&nbsp;&nbsp;&nbsp;&nbsp;</I></B>Our Insurance industry group helps property and casualty insurers,
life insurers, reinsurance firms and insurance brokers improve business processes, develop Internet insurance businesses and improve the quality and consistency of risk selection decisions. In fiscal year 2000, we served 25 of the 53 insurance
companies in the<I> Fortune</I> Global 500. For example, we have been helping Pacific Life design and implement an innovative service capability for its agent network. Components of the solution include automated document management and workflow and
a knowledge management application. These components, coupled with a new technology infrastructure, are designed to enable Pacific Life to continue its high-end product and services strategy while enhancing the capabilities of its employees to
service Pacific Life&#146;s multiple distribution systems and complex product suite. We also help insurers take advantage of the opportunities provided by convergence within the financial services industry. For instance, we helped AMP, one of
Australia&#146;s leading insurance and investment institutions, create a direct bank within just eight months of AMP&#146;s decision to proceed. In conjunction with AMP staff, we designed and delivered a solution that supports secured and unsecured
lending, deposit-taking and credit cards. In addition, our Insurance industry group has also developed a claims management capability that enables insurers to provide better customer service while optimizing claims costs.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Products</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Products global market unit comprises six industry groups: Automotive, Consumer Goods &amp; Services, Industrial
Equipment, Pharmaceuticals &amp; Medical Products, Retail, and Transportation &amp; Travel Services.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below sets forth information about our Products global market unit, including information about revenues
before reimbursements and number of employees, as well as a partial list of some of our largest clients for this global market unit:</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="11%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="89%" VALIGN="top"> <DIV ALIGN="center"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times"><B>Products</B></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="474" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Year ended
<BR>
August 31, 2000</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Six months ended
<BR>
February 28, 2001</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements (in millions):</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,891</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,129</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percent of revenues before reimbursements:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
</TABLE>


<BR>


<BR>

<TABLE ALIGN="center" WIDTH="144" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Number of employees as
<BR>
of May 31, 2001:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">10,347</FONT></TD>
</TR>
</TABLE>


<BR>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Clients</FONT></DIV>


<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="37%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; Adecco SA</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; AstraZeneca</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Auchan</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Best Buy</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; British American
Tobacco</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Carrefour</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Daimler Chrysler</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Exel</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Fiat S.p.A.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Ford Motor Company</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; GlaxoSmithKline</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; JCPenney Company,
Inc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Johnson &amp;
Johnson</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Marriott International,
Inc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Retek, Inc</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Ryder System Inc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Takeda Chemical Industries,
Ltd.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Toys &#147;R&#148; Us,
Inc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; United Parcel Service,
Inc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Volvo</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Automotive.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our Automotive industry group works with auto manufacturers, suppliers,
dealers, retailers and service providers. In fiscal year 2000, we served 15 of the 25 motor vehicles and parts companies in the <I>Fortune </I>Global 500. Our automotive industry professionals work with our clients to develop and implement solutions
focused on customer service and retention, channel strategy and management, branding, buyer-driven business models, cost reduction, customer relationship management and integrated supplier partnerships. For instance, we helped Ford Motor Company
design, build and manage a Web-based eLearning solution to deliver technical education to the company&#146;s suppliers. Designed and built in 14 weeks, the netsourced solution allows suppliers&#146; employees to register for, purchase and complete
courses and to take tests to demonstrate competency in a specific subject area. By delivering training directly to employees&#146; desktops, the system gives participants the flexibility to learn on their own time.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Consumer Goods &amp; Services.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our Consumer Goods &amp; Services industry group helps
food, beverage, tobacco, household products, cosmetics and apparel companies move beyond incremental cost cutting and establish bolder innovation and growth agendas. In fiscal year 2000, we worked with 12 of the 21 beverage, food, soap, cosmetics
and tobacco companies in the <I>Fortune </I>Global 500. This industry group adds value to companies through innovative service offerings that address, among other things, new ways of reaching the retail trade and consumers through precision consumer
marketing, maximizing brand synergies and cost reductions in mergers and acquisitions, and improving supply chain efficiencies through collaborative commerce business models. For example, we are working with CPGmarket.com, a Europe-based global
business-to-business marketplace that includes 30 leading packaged goods companies. We have helped CPGmarket.com with business planning and building an information technology infrastructure that enables member companies to access the exchange&#146;s
services. We also provide management consulting services to North America-based Transora, which was established by more than 50 of the world&#146;s largest consumer packaged goods manufacturers to develop a global electronic marketplace for the
industry. In addition, we are a preferred integrator to help companies across the consumer products supply chain adopt, integrate and use Transora&#146;s services. We also helped Earthgrains, a $2.6 billion bakery and refrigerated dough
manufacturer, reduce costs by
developing an Internet-based procurement process and system that enables the company to leverage the collective purchasing power of its operations in 32 states.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Industrial Equipment.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our Industrial Equipment industry group serves the industrial and
electrical equipment, construction, consumer durable and heavy equipment industries. In fiscal year 2000, we served six of the 12 building materials, glass, and industrial and farm equipment companies in the <I>Fortune</I> Global 500. We help our
clients increase operating and supply chain efficiency by improving processes and leveraging technology. For example, we implemented a sophisticated enterprise-wide technology solution for Komatsu to help the company significantly increase the
efficiency of its back- and front-office functions in the United States. We also work with clients to generate value from strategic mergers and acquisitions. For instance, as part of the merger of BTR and Siebe to create Invensys, an automation and
controls company, we helped manage the integration of more than 200 workstreams covering human resources, finance, procurement and supply chain management. Our Industrial Equipment industry group also develops and deploys innovative solutions in the
area of channel management, collaborative product design, remote field maintenance, enterprise application integration and outsourcing.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Pharmaceuticals &amp; Medical Products.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our Pharmaceuticals &amp; Medical Products
industry group serves pharmaceuticals, biotechnology, medical products and other industry-related companies. In fiscal year 2000, we served all 14 of the pharmaceuticals companies in the <I>Fortune </I>Global 500. With knowledge in discovery,
development, manufacturing, supply chain, and sales and marketing issues, we help companies identify and exploit opportunities for value creation, such as reducing the time it takes to develop and deliver new drugs to market through process
improvements and implementation of technology. For example, we helped Glaxo Wellcome (now GlaxoSmithKline) significantly increase their clinical trial capacity while reducing their cycle time, and we helped the Medicines Control Agency in the United
Kingdom use electronic commerce technologies to improve their efficiency in submitting and processing regulatory applications. In addition, we worked with Takeda Pharmaceuticals America to help the company build a comprehensive set of business
capabilities, including product development, supply chain management, and sales and marketing. Our Pharmaceuticals &amp; Medical Products industry group also helps clients integrate new discovery technologies, realize the potential of genomics and
biotechnology, become more patient-centric, and create new business models that deliver medical breakthroughs more rapidly.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Retail.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our Retail industry group serves a wide spectrum of retailers ranging from
convenience stores to destination stores, including supermarkets, specialty premium retailers and large mass-merchandise discounters. In fiscal year 2000, we served 21 of the 52 food and drug stores, general merchandisers and specialty retailers, as
well as four of the trading companies, in the <I>Fortune </I>Global 500. Our Retail industry group professionals work with clients to improve operational performance, increase advertising and merchandising effectiveness, and enhance supply chain and
customer relationship management capabilities. For example, Best Buy engaged us for a two-year program, called Process to Profits, designed to drive shareholder value and enhance the retailer&#146;s capabilities through improved assortment planning,
pricing, inventory management, product sourcing and advertising effectiveness. The program&#146;s success led Best Buy to publicly credit Accenture with playing a strong role in the company&#146;s return to profitability. More recently, we entered
into a long-term contract with J Sainsbury PLC to assist the company with a full-scale transformation of its business and technology to improve its customers&#146; shopping experiences.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Transportation &amp; Travel Services.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our Transportation &amp; Travel Services industry
group serves clients in the airline, freight transportation, third-party logistics, hospitality, gaming, car rental, passenger rail and travel distribution industries. In fiscal year 2000, we served 14 of the 25 airline, railroad, mail, package, and
freight delivery companies and postal services in the
<I>Fortune </I>Global 500. We help clients develop and implement strategies and solutions to improve customer relationship management capabilities, operate more-efficient networks, integrate supply chains, develop procurement and electronic business
marketplace strategies and more effectively manage maintenance, repair and overhaul processes and expenses. We recently helped Finnish Rail, the largest transportation company in Finland, reduce costs and improve customer service by creating an
advanced ticketing sales system that integrates multiple sales channels and streamlines processes for ticket sales, railway station back-offices and corporate headquarters. Our industry experience and knowledge drive innovation, and we often
leverage our intellectual property to develop effective solutions for multiple clients. For instance, while working for Northwest Airlines in the early 1990s we recognized an industry-wide need for a revenue accounting and billing system and
developed a comprehensive solution to address the unique needs of the airline industry. That solution, which was later expanded to include distribution and reservation system services, is operated by Navitaire Inc., an Accenture affiliate, which
today serves more than 50 airlines worldwide.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resources</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Resources global market unit serves the energy, chemicals, utilities, metals, mining, forest products and related
industries. <I></I>With market conditions creating incentives for major investment by energy companies, deregulation fundamentally reforming the utilities industry, major globalization and strategy shifts in the chemicals industry and an increasing
focus on supply chain management, we are working with clients to create innovative solutions that are designed to help them differentiate themselves in the marketplace and gain competitive advantage.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below sets forth information about our Resources global market unit, including information about revenues
before reimbursements and number of employees, as well as a partial list of some of our largest clients for this global market unit:</FONT></DIV>

<DIV><FONT SIZE="3">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="11%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="89%" VALIGN="top"> <DIV ALIGN="center"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times"><B>Resources</B></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="474" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Year ended
<BR>
August 31, 2000</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Six months ended
<BR>
February 28, 2001</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements (in millions):</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,661</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$954</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percent of revenues before reimbursements:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">17</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">17</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
</TABLE>


<BR>


<BR>

<TABLE ALIGN="center" WIDTH="144" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Number of employees as
<BR>
of May 31, 2001:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">10,713</FONT></TD>
</TR>
</TABLE>


<BR>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Clients</FONT></DIV>


<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="37%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; Ameren Corporation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; BP</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Centrica plc</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Conoco Inc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; The Dow Chemical
Company</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; E.I. du Pont de Nemours and
Company</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; EDF</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Electrabel</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Eni</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Entergy
Corporation</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; Equilon Enterprises LLC</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Exelon Corporation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Exxon Mobil
Corporation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Grupo Endesa</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Halliburton
Company</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Royal Dutch/Shell Group of
Companies</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; RWE AG</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Seeboard PLC</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Sithe Energies,
Inc.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Tosco Corporation</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Resources global market unit comprises the following industry groups:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Chemicals.</B></I>&nbsp;&nbsp;&nbsp;&nbsp;Our Chemicals industry group serves 51 of the world&#146;s 100 largest
chemicals companies, including all of the 10 largest companies. In fiscal year 2000 we worked with nine of the 11 chemicals companies, as well as several of the petroleum refining companies, in the <I>


<I>Fortune</I> Global 500. This industry group has significant resources in Europe, Asia, Japan and the Americas and works with a wide cross-section of industry segments, including specialty chemicals, industrial chemicals, polymers and plastics,
gases and life science companies. We also have long-term operations contracts with many of the industry leaders, including Dow and DuPont. For instance, our innovative outsourcing arrangement with Dow Chemical for information technology application
development is designed to improve significantly Dow&#146;s return on its information technology investment. We have also worked closely with many chemical industry electronic marketplaces and start-ups, including ChemConnect, one of the
world&#146;s largest Internet chemicals exchanges.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Energy.&nbsp;&nbsp;&nbsp;&nbsp;</B></I>Our Energy industry group serves a wide range of companies in the oil and gas
industry, including upstream, downstream and oil services companies. In fiscal year 2000, we served 22 of the 33 energy and petroleum refining companies in the <I>Fortune</I> Global 500. Our clients include BP, Shell, Halliburton, Enron and Exxon
Mobil, among others. We help clients create cross-industry synergies and operational efficiencies through our multi-client outsourcing centers, forge alliances to advance integrated industry solutions, build new markets in Asia, establish electronic
procurement exchanges, build and enhance trading and risk management operations, and exploit new business technologies.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Forest Products.</B></I>&nbsp;&nbsp;&nbsp;&nbsp;In fiscal year 2000, we served four of the six forest and paper
products companies in the <I>Fortune</I> Global 500. The Forest Products industry group helps our clients in the pulp and paper business achieve improvements in business performance from the individual mill level throughout the value chain. We also
help our Forest Products clients use electronic commerce and the Internet to drive incremental value.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Metals &amp; Mining.</B></I>&nbsp;&nbsp;&nbsp;&nbsp;Our Metals &amp; Mining industry group serves metals industry
clients located in the world&#146;s key mining regions, including North America, Latin America, South Africa, Australia and South East Asia. In fiscal year 2000, we served seven of the 18 metals, metal products, mining and crude-oil production
companies in the <I>Fortune</I> Global 500. The Metals &amp; Mining industry group works with clients in areas such as electronic commerce, including procurement, supply-chain management and customer service. For example, we are providing a wide
range of strategy, process and technology support for MetalSite, a North America-based marketplace, including the creation and launch of its site in Japan. In addition, we are working with Quadrem to design, build and support an electronic
marketplace founded by 20 of the world&#146;s largest mining, metals and mineral companies.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Utilities.</B></I>&nbsp;&nbsp;&nbsp;&nbsp;Our Utilities industry group works with electric, gas and water utilities
around the world to respond to an evolving and highly competitive marketplace. In fiscal year 2000, we served 12 of the 17 gas and electric utilities, as well as several of the energy companies, in the <I>Fortune</I> Global 500. Our work includes
helping utilities transform themselves from state-owned, regulated local entities to global deregulated corporations, as well as developing diverse products and service offerings to help our clients deliver higher levels of convenience and service
to their customers. These offerings include trading and risk management, supply chain optimization and customer relationship management. We are also working with new electricity power exchanges, including ASMAE (Brazilian Power Exchange), PJM
Interconnection and ERCOT (the Electric Reliability Council of Texas), to bring producers together with the goal of improving service to consumers and reducing rates.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As the world&#146;s largest employers, governments face the challenge of improving the efficiency of their service
delivery by creating new citizen-centric business models that harness the power of new technologies. Our Government global market unit works with government agencies in 21 countries, helping them transform to meet the demands of citizens and
businesses. We typically work with defense, revenue, human services, justice, postal, education and electoral authorities, whose budgets typically account for a substantial majority of a country&#146;s overall government expenditures.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below sets forth information about our Government global market unit, including information about revenues
before reimbursements and number of employees, as well as a partial list of some of our largest clients for this global market unit:</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="11%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="89%" VALIGN="top"> <DIV ALIGN="center"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times"><B>Government</B></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="474" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Year ended
<BR>
August 31, 2000</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Six months ended
<BR>
February 28, 2001</FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements (in millions):</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$797</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$451</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percent of revenues before reimbursements:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
</TABLE>


<BR>


<BR>

<TABLE ALIGN="center" WIDTH="144" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Number of employees as
<BR>
of May 31, 2001:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4,851</FONT></TD>
</TR>
</TABLE>


<BR>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><U>Clients</U></FONT></DIV>


<TABLE WIDTH="100%" ALIGN="center" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" WIDTH="37%" ALIGN="left"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; Canada Post Corporation</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Centrelink,
Australia</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; City of Boston</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Direcc&#227;o-Geral das
Contribui&#231;&#245;es e Impostos</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; District of Columbia Office of
Taxation and Revenue</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Government of Ontario,
Ministry of Community and Social Services</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Independent Electoral
Commission, South Africa</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Kanto Gakuen,
Japan</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Minist&#232;re Des Finances,
France</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; National Diet Library,
Japan</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; National Treasury, South
Africa</FONT></DIV>
</TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="top" ALIGN="center"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp; New Mexico Department of Human
<BR>
Services</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; Tennessee Department of
<BR>
Human Services</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; United Kingdom Inland
Revenue</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; U.S. Defense Logistics
Agency</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; U.S. Department of
Commerce</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; U.S. Department of Education,
Office of Student Financial Assistance</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; U.S. Department of Housing and
Urban Development</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; U.S. Department of the
Interior, Minerals Management Service</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp; U.S. Postal
Service</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="1%"></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Government clients typically are national, provincial or state-level government organizations, and to a lesser
extent, cities and other forms of local government. We have a significant presence in the U.S. federal marketplace, including strong relationships with the U.S. Department of Education Office of Student Financial Assistance, U.S. Department of
Housing and Urban Development, U.S. Defense Logistics Agency and U.S. Department of Commerce. We advise on, implement and in some cases operate government services, enabling our clients to use their resources more efficiently and to deliver
citizen-centric services. For instance, we have worked with the United Kingdom Inland Revenue to design, build and run one of the world&#146;s largest information technology systems, maintaining national insurance records on 60 million citizens. In
Canada, we operate software systems and provide application development, management and support services to Canada Post Corporation under a long-term contract, helping them process more than 9 billion pieces of mail each year.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are also working with clients ranging from the Minist&#232;re des Finances in France to the Human Services Department
in New Mexico to transform their back-office operations, build Web interfaces and enable services to be delivered over the Internet. In addition, many government agencies are moving beyond information-only Web sites to full-service Internet portals
that offer a single entry point for
citizens and businesses to access integrated services and information. We have developed and implemented portal strategies for numerous federal, state and local governments, including the Australian Taxation Office and the State of North Carolina,
which was recognized as &#147;Best of the Web&#148; by <I>Government Technology</I>. Additionally, we use the Internet and other new technologies to help defense agencies manage their supply chains and improve procurement processes.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Service Lines</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Through our eight services lines we develop and deliver a full spectrum of services and solutions that address business
opportunities and challenges common across industries. In addition to the more than 55,000 professionals who specialize in a service line within a particular industry group, we have more than 8,000 professionals dedicated full-time to our service
lines. Each of these professionals focuses exclusively on one service line, helping develop knowledge, assets and innovative solutions for clients across all of our industry groups. We use our service line expertise to incubate and develop new,
scalable service offerings to meet the evolving needs of our clients.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy &amp; Business Architecture</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Companies in every industry and geography, whether they are start-ups or established businesses, seek advice and support
on issues related to achieving and maintaining a competitive advantage. The professionals within our Strategy &amp; Business Architecture service line, many of whom we recruit from top business schools and recognized strategy consulting firms, work
with individuals at the highest levels of our clients&#146; organizations on their most critical strategy and information technology issues. To help clients unlock new sources of value, we provide a wide array of strategic planning and design
services and advise clients on significant decisions relating to corporate governance, alliances, mergers and acquisitions and other transformational decisions. In addition, our professionals analyze current and emerging market trends to help
clients identify new business opportunities.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A key strength is our ability to integrate strategic thought leadership and innovative concepts with process, industry
and technology expertise. Unlike strategy consulting firms that provide advice but often do not deliver and execute a solution, we develop and implement practical solutions that leverage the knowledge, best practices and experience that we have
gained from working on complex engagements for our clients in our 18 different industry groups.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer Relationship Management</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maintaining strong relationships with customers is an essential component of creating sustainable top-line growth.
Professionals in our Customer Relationship Management service line help companies increase the value of their customer relationships and enhance the economic value of their brands to acquire new customers and retain existing ones. We offer a full
range of capabilities that have positioned us as a pioneer in the reinvention of marketing and customer relationship management. These include proprietary approaches to improving the return on marketing investments, innovative methods for uncovering
insight into customers&#146; purchasing preferences and habits and tailoring products and services based on that insight, and sophisticated techniques for integrating information so that it is available to the customer at any point of interaction.
Together with our alliance partners, we bring in-depth skills to our clients, helping them create superior customer experiences and enhance the value of their customer relationships. For example, we are working with Seisint (formerly known as eData)
to develop solutions that use Seisint&#146;s technology to quickly and effectively unlock information from available customer and business data.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Supply Chain Management</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We help clients gain a competitive advantage by optimizing their supply chains and building networks to facilitate
collaboration with suppliers and business partners. Professionals in our Supply Chain Management service line are dedicated to inventing new approaches to solve supply chain problems across a broad range of industries. This includes designing
more-efficient procurement processes, optimizing product planning, strengthening supplier relationships, and streamlining product development cycles.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, our Supply Chain Management service line uses its expertise in areas such as strategic sourcing,
manufacturing strategy and operations, and logistics to provide strategic advice and technology solutions that leverage the Web for procurement, fulfillment and product design. For instance, we helped create numerous electronic business-to-business
exchanges, including Exostar, an electronic marketplace operated by four leading aerospace and defense companies. Professionals from our Electronics &amp; High Tech industry group teamed with our supply chain experts to support every facet of
Exostar&#146;s launch, including designing the business architecture, drafting and building the first release of indirect procurement and auctions, staffing the organization, and launching the front- and back-office operations.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are also a leader in tracking the impact of the fulfillment process for Internet-based shopping. We have identified
important links between the supply chain and customer satisfaction that will enable our clients to reformulate their fulfillment processes to improve efficiency and increase profits.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Human Performance</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Much of our clients&#146; success depends upon their ability to transform their organizations to compete in a complex,
competitive, fast-changing global economy. The key to achieving and sustaining enhanced business performance in this challenging environment often lies with an organization&#146;s people.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The professionals in our Human Performance service line help our clients solve human performance issues critical to
their operational success, from recruiting and motivating key employees and management to developing outsourced and netsourced processes and training for their employees. Our integrated approach provides human resources, knowledge management,
learning and performance management solutions that increase the efficiency and effectiveness of our clients&#146; employees and operations, while reducing recruiting and training costs. For example, through our alliance with e-peopleserve, an
Accenture affiliate created with British Telecommunications plc, we are able to offer clients an outsourced solution designed to reduce the costs associated with human resources administration.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finance &amp; Performance Management</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The professionals in our Finance &amp; Performance Management service line work with our clients&#146; key financial
managers, including chief financial officers, treasurers and controllers, to support management of, and reporting by, the finance department. Among the services we provide are strategic consulting with regard to the design and structure of the
finance function, particularly post-merger or acquisition, and the establishment of shared service centers for streamlining transaction processing. Our professionals work with financial executives to develop and implement solutions that help them
align their companies&#146; investments with their business objectives, use the Internet to manage the treasury function, and establish security around the exchange of information to reporting institutions. Our services also address pricing and
yield management, billing, credit, lending and debt recovery.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology Research &amp; Innovation</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professionals in our Technology Research &amp; Innovation service line research, invent and commercialize cutting-edge
business solutions using new and emerging technologies. We continually identify and dedicate significant resources to the next-wave technologies that we believe will be drivers of our clients&#146; growth and sources of first-mover advantage by
enabling clients to be first to market with a unique capability or service offering. We established Accenture Technology Labs to explore the business impact of new and emerging technologies and frequently collaborate with research laboratories in
industry and academia.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our research helps develop innovative ideas based on technology advances that can be applied to changing marketplace
dynamics. For example, we recently explored the application of embedded sensors, intelligent agents and wireless technologies through the creation of an &#147;online medicine cabinet&#148; prototype to demonstrate how a product can be turned into a
context-rich service that could help physicians counter the life-threatening problems of non-compliance in therapy, give patients peace of mind, and enable many elderly people to remain independent.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Solutions Engineering</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professionals in our Solutions Engineering service line design, build and deploy complex industry-specific, reusable and
scalable solutions that typically integrate business processes, technology and human performance components. Among other things, they maintain and enhance our methods and practices for building technology-based solutions in an efficient and
predictable manner. We have expertise and capabilities in a wide range of areas, including electronic commerce infrastructure, security, enterprise resource planning, enterprise application integration, data warehousing and pre-packaged business
solution delivery. We have developed program and project management skills and methodologies that allow us to achieve on-time delivery of highly complex projects. The Solutions Engineering service line not only applies established technologies in
which we have considerable experience and expertise, but also uses new and emerging technologies to deliver solutions that help keep our clients at the forefront of business innovation. This service line seeks to continually improve technology
solutions delivery, using our global network of specialized solution centers.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Solutions Operations</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the pursuit of increased shareholder value, senior executives are pressured to reduce costs while keeping pace with
emerging technologies and securing skilled resources. Our Solutions Operations service line provides a range of outsourcing solutions for managing technology infrastructure, applications and business processes and is our primary source of strategy
and capability for executing initiatives in business transformation outsourcing. Over the past decade, more than 200 organizations have turned to us for outsourcing services, with benefits ranging from reduced costs to improved processes to enhanced
productivity.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are differentiated in our delivery of outsourcing services through our creation of solutions that help transform the
way industries work and our ability to combine industry, technology and functional expertise with outsourcing capabilities. For example, in the North Sea we have worked with global oil companies including BP and Elf to create a shared accounting
service facility that has redefined the way that the energy finance and administration function is managed. With Accenture handling approximately 40% of North Sea energy industry accounting transactions through this facility, clients have realized
substantial cost reductions in their accounting functions. In addition, we are expanding our outsourcing capabilities in several industries through a variety of shared-service solutions, including customer information management, billing systems,
information technology services, supply chain management and human resources administration.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our outsourcing solutions also include our netsourcing capability, which allows clients to take advantage of
state-of-the-art Internet-based capabilities, such as Web hosting and direct Internet access to a wide array of business solutions. We provide many of these capabilities, including training, supply chain integration and managed financial reporting,
in conjunction with our alliance partners.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Solution Centers and Business Launch Centres</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One of our key strengths is our ability to create and capture replicable components of methodologies and technologies,
which we can customize to create tailored solutions for our clients in a cost-effective manner and under demanding time constraints. Our global networks of Solution Centers and Business Launch Centres enhance our ability to capitalize on our vast
array of methodologies, tools and technology to deliver value to our clients.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Solution Centers</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Solution Centers are facilities where teams of Accenture professionals use proven methodologies and existing assets
to create business solutions for clients. Client teams use our network of more than 25 Solution Centers worldwide to complete comprehensive, effective and customized implementations in less time than would be required to develop solutions from the
ground up. Our Solution Centers improve the efficiency of our engagement teams as they are able to reuse solution designs, team-member experience, infrastructure and software. Reuse also increases solution longevity and reduces technology risks and
application maintenance.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business Launch Centres</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Business Launch Centres, which complement the global market units and draw upon experts in the service lines and our
network of businesses, help clients innovate and get new businesses up and running. Our 26 Business Launch Centres comprise a global network of professionals and knowledge and technology assets strategically located in major business capitals.
Drawing on this resource pool, the Centres deploy technology, personnel and expertise when, where and as needed throughout an emerging business&#146; lifecycle. In addition, our professionals can help grow businesses by supplying management,
operations, marketing, finance, administration and technology skills. Through these Centres, we have helped more than 350 new economy businesses get their operations up and running. By helping major corporations, new business start-ups, venture
capitalists and private equity investors compress the time to launch new ventures, the Business Launch Centres help investors and parent corporations achieve faster returns on their investments.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Affiliates, Alliances and Accenture Technology Ventures Portfolio Companies</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our affiliates, alliances and portfolio companies enhance the ability of our market units and service lines to deliver
value to clients by providing us with insight into and access to emerging business models, products and technologies.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Affiliates</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a capability that we do not already possess is of strategic importance and value to us but is in an area that is best
developed in a business model outside our client service business, we may form a new business, often with one or more third parties, to develop that capability. We call these businesses affiliates. In general, we expect the capabilities developed by
these new businesses to be used by our own professionals as well as by other companies. These entities can rapidly advance a particular opportunity by building upon our global platform of clients, professionals and business expertise. In addition,
these new businesses may take on value by association with our management and technology consulting business and our extensive client relationships. While the size of the investment that we take or maintain in an affiliate varies on a case-by-case
basis, our strategy with respect to affiliates is to maintain influence or control on a long-term basis. Our affiliates include Avanade, e-peopleserve, Imagine Broadband, Indeliq and Navitaire.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avanade, which was launched in March 2000, is a company we jointly own with Microsoft that focuses on large-scale
technology integration surrounding Microsoft&#146;s enterprise platform. Combining Microsoft&#146;s understanding of operating platforms and technologies with our experience in delivering solutions to our clients, Avanade capitalizes on the advanced
capabilities of the Microsoft Windows&reg; 2000 platform to build customized, scalable solutions for complex electronic business and enterprise infrastructure. Avanade has approximately 1,200 employees.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Launched in August 2000, e-peopleserve is a human resources solution provider we own with British Telecommunications.
Through Web-enabled technology, outsourcing and expert caseworkers,
<BR>
e-peopleserve provides services across the employee lifecycle, giving large organizations a more efficient and effective human resources management system. e-peopleserve has more than 1,500 employees.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In 1999, as part of an engagement with Telewest Communications plc, we achieved a broadband industry milestone when we
completed development of the world&#146;s first operational and scalable interactive digital television platform over cable. In March 2000, we and Telewest co-founded Imagine Broadband to continue development of the interactive platform and market
it to a wide range of customers. Telewest participates as a minority investor in the new company and was its first customer. Today, Imagine Broadband provides interactive broadband solutions and platform implementation to cable, satellite and
telecommunications network operators worldwide.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since the early 1990s, we have designed and installed customized electronic learning applications for clients. Based on
this experience, we developed a performance simulation-based training system and were issued 22 patents covering various functional aspects of our performance simulation architectures and tools. To make these new applications available at lower cost
to a wide range of customers, we launched Indeliq, Inc. in February 2001 to develop scalable performance simulation electronic learning applications based on our patents and technology, which we contributed to Indeliq. We will continue to offer
highly customized applications to large companies with complex training needs. Indeliq has more than 80 employees.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Navitaire Inc., formed as PRA Solutions, LLC in 1993, is an affiliate of Accenture that provides airlines with
reservations, ticketing and revenue management services. Navitaire was launched in 2000 when PRA Solutions was combined with another Accenture subsidiary, VIA World Network, an Internet reservation provider, and Open Skies, Inc., an airline
reservation system and revenues management services provider acquired from Hewlett-Packard Company. Today, Navitaire provides technology and business process services to more than 50 airlines worldwide. Navitaire employs more than 450 people
worldwide.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Alliances</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because today&#146;s business environment demands more speed, flexibility and resources than exist at any single
company, strategic alliances are an important part of our strategy. Through our strategic alliances, we work with established and early-stage technology companies in virtually every field, allowing us to incorporate market-leading insights and
deliver an unparalleled array of capabilities for our clients&#146; diverse business needs. We seek to form alliances with leading companies and organizations whose capabilities complement our own, whether by extending or deepening a service
offering, delivering a new technology or business process, or helping us extend our services to new geographies.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Substantially all of our alliances are non-exclusive. Our alliances generally have a term of three to five years
(subject to early termination in most cases) and often include payment to us of compensation in cash or equity in return for coordinated marketing or sales efforts. These payments do not generate revenues which are material to us. Although our
alliances, taken together, are a key component of our business, individually none of our alliances is material to our business.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of February 28, 2001, we had approximately 150 alliances around the world. Due to the highly focused nature of the
capabilities added, some alliances are specifically aligned with one of our eight service lines, adding skills and capabilities that are applicable across many of the industries we serve. Other alliances add skills, technology and insights specific
to a single industry group. The service lines use the products, software and services of our alliance partners to develop integrated business and technology solutions for our clients. Alliances that are applicable across multiple industry groups and
global market units are listed in the chart below.</FONT></DIV>
<DIV><FONT SIZE="3">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="590" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Alliance Partner</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Alliance Description</B></FONT></TH>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adaytum</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Adaytum to co-develop and implement Web-based
<BR>
applications to accelerate and improve the predictability of our
<BR>
clients&#146; enterprise business planning processes.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Ariba</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work together to build and deliver procurement and electronic
<BR>
marketplace solutions and to improve supply chain efficiency.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Avanade*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Our relationship with Avanade gives us an advantage in building
<BR>
and delivering customized, scalable, complex electronic commerce
<BR>
and enterprise-wide solutions based upon the Microsoft .Net
<BR>
enterprise platform.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Blue Martini Software</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Blue Martini to develop software solutions to
<BR>
understand, target and interact with customers across all channels.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Click Commerce</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Click Commerce to help our clients create secure,
<BR>
tailored channel management solutions across the Internet and
<BR>
wireless platforms.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Commerce One</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Commerce One to build public and private
<BR>
electronic marketplaces. We use its applications suite to
<BR>
implement solutions that support supply chain processes.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Docent</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We use Docent&#146;s open learning management platform to implement
<BR>
employee learning solutions that enable clients to increase speed
<BR>
to proficiency while lowering training costs.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">e-peopleserve*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We use e-peopleserve&#146;s leading-edge, electronically enabled
<BR>
human resources solutions to deliver comprehensive outsourced
<BR>
human resources services to clients.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Hewlett-Packard</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Hewlett-Packard to offer a wide range of imaging
<BR>
solutions and computer hardware and software to our clients.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">ICG Commerce</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with ICG Commerce to offer our clients access to its
<BR>
comprehensive procurement solution.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Imagine Broadband*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Imagine Broadband to develop, customize and
<BR>
deliver leading-edge interactive broadband services.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">i2</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with i2 to build and support electronic marketplaces that
<BR>
improve our clients&#146; supply chain efficiency.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Jamcracker</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Jamcracker to deliver net-sourced solutions to our
<BR>
clients, including virtual private networks, hosted exchanges and
<BR>
remote access.</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Also an affiliate.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="590" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Alliance Partner</B></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Alliance Description</B></FONT></TH>
</TR>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Kana Communications</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Kana to deliver Web-architected customer
<BR>
relationship management solutions that help clients manage
<BR>
interactions with their customers, partners and suppliers across
<BR>
multiple communication channels.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Lombardi Software</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Lombardi to develop solutions that enable companies
<BR>
across the extended supply chain to collaborate, facilitating
<BR>
problem resolution and accelerating decision making.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Microsoft</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Microsoft and Avanade to offer a broad array of
<BR>
scalable solutions built upon the Microsoft .Net enterprise
<BR>
platform.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Moai</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Moai to co-market and deliver online contract
<BR>
negotiation services that allow businesses to buy and sell goods
<BR>
more efficiently over the Internet.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Perform.com</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Perform.com to deliver Web-enabled human
<BR>
performance, organizational planning and career management tools
<BR>
and processes.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">SAP</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with SAP to provide supply chain solutions that help
<BR>
companies collaborate electronically, enabling them to quickly add
<BR>
new members, lower distribution costs, reduce inventories,
<BR>
increase delivery accuracy and better control infrastructure
<BR>
technology costs.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">SeeBeyond (formerly known
<BR>
as STC)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with SeeBeyond to help our clients optimize their
<BR>
information flow by delivering Enterprise Application Integration
<BR>
(EAI) solutions for integrating supply chain management, customer
<BR>
relationship management, decision support and electronic
<BR>
commerce applications.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Siebel Systems</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Siebel Systems to deliver customer relationship
<BR>
management technologies that help our clients interact effectively
<BR>
with their customers across multiple channels.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Seisint (formerly known
<BR>
as eData)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Seisint to develop solutions <I></I>to help companies
<BR>
improve business performance by using data at speed, at scale and
<BR>
cost-effectively.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Sun Microsystems</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Sun Microsystems to co-develop and jointly market
<BR>
products and services.</FONT></TD>
</TR>
<TR>
<TD COLSPAN=4><HR SIZE=1 NOSHADE></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Yantra</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We work with Yantra to develop scalable electronic supply chain
<BR>
solutions for managing and executing high-volume customer
<BR>
transactions across complex, multi-channel and multi-partner
<BR>
enterprises.</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></DIV>
</TD>
<TD WIDTH="97%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Also an affiliate.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>Accenture Technology Ventures Portfolio Companies</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Technology Ventures, our venture capital business, provides us with insight into and access to emerging
business models, products and technologies for the benefit of our management and technology consulting business and enables us to generate returns from investments in emerging growth technology companies. The companies in which Accenture Technology
Ventures invests, which we refer to as portfolio companies, also benefit from access to our industry expertise and client relationships. Accenture Technology Ventures&#146; investment strategy includes funding for private companies and focuses on
software and information technology investments. From its inception in November 1999 through May 31, 2001, Accenture Technology Ventures has invested more than $300 million in 70 companies.<B></B></FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Technology Ventures&#146; experienced partners and principals evaluate technology companies to identify those
with the best potential for financial return. The partners and principals of Accenture Technology Ventures have been chosen based in part on the strength of their professional backgrounds and the depth of their prior work experience in areas
relevant to the business. While our portfolio covers a wide range of technologies, we concentrate our efforts and expertise in the following areas:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">customer relationship management;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">supply chain management;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">eInfrastructure and enterprise integration software;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">wireless technologies;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">digital content services; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">eHuman Performance, including eLearning and eHuman Resources.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment opportunities are commonly received from sources within Accenture and outside contacts. Any commitment to a
company greater than $10 million requires approval of the board of directors of Accenture Technology Ventures and any investment decision may be vetoed by the managing general partner of Accenture Technology Ventures.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our role as an investor in emerging companies provides us with early, and often preferred, access to technology that we
can use to develop market-ready solutions for our clients. For example, in 1995, prior to establishing Accenture Technology Ventures, we made an early-stage investment in Siebel Systems Inc. Following our investment, we worked closely with Siebel
Systems to jointly provide their initial customer relationship management solutions. The insights into the customer relationship management market that we gained through our investment in and relationship with Siebel Systems were instrumental in
enabling us to address the emerging customer relationship management trend early and to provide market-ready customer relationship management solutions to our clients in the beginning of the customer relationship management lifecycle. For the prior
four years, we have been the largest integrator of Siebel eBusiness Applications.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our portfolio companies also facilitate our ability to identify emerging technologies and alliance partners that can be
of value to clients. Our early insights and development efforts in turn make us a valuable alliance partner. With offices in eleven countries on four continents and teams of professionals in North America, Europe and Asia Pacific, Accenture
Technology Ventures is a venture capital firm with a global presence. Accenture Technology Ventures has no restrictions on investing in Accenture affiliates.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>Research and Innovation</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are committed to developing leading-edge ideas. We believe that research and innovation have been major factors in
our success and will help us continue to grow in the future. We use our investment in research to help create, commercialize and disseminate innovative business strategies and technology. Our research and innovation program is designed to generate
early insights into how knowledge can be harnessed to create innovative business solutions for our clients and to develop business strategies with significant value. We spent $211 million, $256 million and $252 million on research and development in
fiscal years 1998, 1999 and 2000, respectively, primarily through both our global market units and our service lines to develop market-ready solutions for our clients. We also promote the creation of knowledge capital and thought leadership through
the Accenture Technology Labs, the Accenture Institute for Strategic Change and the Accenture Ideas Exchanges.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Accenture Technology Labs, which are part of our Technology Research &amp; Innovation service line, investigate how
the convergence of computing, communication and content technologies will change how we work and live in the next three to five years. Researchers in the Accenture Technology Labs in North America and Europe develop visions of the future by building
prototypes that combine new technologies in innovative ways and report on innovative ideas and projects that are incorporated into pioneering technology solutions for our clients.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Accenture Institute for Strategic Change, which is part of our Strategy &amp; Business Architecture service line,
produces a variety of research products and publications that combine innovative academic thinking with business strategy advice. Based in Cambridge, Massachusetts, the Institute comprises experienced management researchers, business educators and
executives whose collective efforts deliver value to our clients through enhanced service offerings.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Accenture Ideas Exchanges are global hubs for our knowledge capital in specific industries, addressing matters of
import to chief executive officers and other top-level executives. Executives meet in one or two-day sessions working side-by-side with our specialists to focus on the key issues that will affect their organization&#146;s prospects for growth. For
example, more than 350 chief executive officers and other senior-level executives have visited the Financial Ideas Exchange in New York City since 1995. We also operate several other Ideas Exchanges, including the Communications Ideas Exchange, the
Retail Ideas Exchange, the Consumer Ideas Exchange and the Chemicals Ideas Exchange.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Employees</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of May 31, 2001, we had more than 75,000 employees worldwide, of whom more than 2,400 were partners.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hired approximately 17,000 new employees in each of fiscal years 2000 and 2001. The cumulative rate of turnover among
our employees was 19% for fiscal year 1999, <B></B>22% for fiscal year 2000, and, on an annualized basis, approximately 14% for the nine months ended May 31, 2001, excluding involuntary terminations. We believe that our higher rate of attrition in
fiscal year 2000 was the result of aggressive hiring and compensation activities by Internet companies of strategy and technology professionals.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Competition</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We operate in a highly competitive and rapidly changing global market and compete with a variety of organizations that
offer services similar to those that we offer. In addition, a client may choose to use
its own resources rather than engage an outside firm for the types of services we provide. Our competitors include:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>Information technology outsourcing and services companies.</I>&nbsp;&nbsp;&nbsp;&nbsp;In addition to information
technology outsourcing, these companies also offer consulting and systems integration capabilities for a complete solution.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&#147;Big 5&#148; accounting and consulting firms.</I>&nbsp;&nbsp;&nbsp;&nbsp;Over the past few years, the &#147;Big
5&#148; accounting firms have built significant consulting operations with broad capabilities and geographic coverage. Many of these firms are currently undergoing restructuring to separate audit and consulting practices to meet regulatory
requirements, as well as to gain access to equity markets.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>Management and strategy consulting firms.</I>&nbsp;&nbsp;&nbsp;&nbsp;These firms continue to focus on high-level corporate
strategy for their traditional clients and emerging companies. Many have recently added a focus on information technology and electronic commerce strategy.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>Specialized electronic business consulting firms.</I>&nbsp;&nbsp;&nbsp;&nbsp;The fragmented nature of this industry,
coupled with constant changes in technology, results in the formation of boutique consultants. The rapid rise of the Internet resulted in the emergence of many specialized services firms, typically focused on a small segment of the overall market,
such as Web design and development.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>Information technology product and service vendors.</I>&nbsp;&nbsp;&nbsp;&nbsp;Product vendors offer technical consulting
to support their own products while also maintaining alliance relationships with major consulting firms, and these organizations typically attempt to broaden their services beyond their product suites. We also compete with application service
providers.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in our marketplace may create new, larger or better-capitalized competitors with enhanced abilities to attract
and retain professionals.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our revenues are derived primarily from <I>Fortune</I> Global 500 and <I>Fortune</I> 1000 companies, medium-sized
companies, governmental organizations and other large enterprises. There is an increasing number of professional services firms seeking consulting engagements with these organizations. We believe that the principal competitive factors in the
consulting industry in which we operate include:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">skills and capabilities of people;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">reputation and client references;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">price;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">scope of services;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">service delivery approach;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">technical and industry expertise;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">perceived ability to add value;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">quality of advice given;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">focus on achieving results on a timely basis;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">availability of appropriate resources; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">global reach and scale.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="4">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Intellectual Property</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our success has resulted in part from our proprietary methodologies, software, reusable knowledge capital and other
intellectual property rights. We rely upon a combination of nondisclosure and other

contractual arrangements and trade secret, copyright, patent and trademark laws to protect our intellectual property rights and rights of third parties from whom we license intellectual property. We have promulgated policies related to
confidentiality and ownership, use and protection of intellectual property of Accenture and third parties, and we also enter into agreements with our employees as appropriate.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We recognize the value of intellectual property in the new marketplace and vigorously create, harvest and protect our
intellectual property. We have filed more than 600 patent applications in the United States and other jurisdictions in the last two years alone and have received more than 40 United States patents. We will continue to vigorously identify, harvest
and protect our intellectual property.</FONT></DIV>
<DIV><FONT SIZE="4">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Legal Matters and Insurance</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are involved in a number of judicial and arbitration proceedings concerning matters arising in the ordinary course of
our business. We do not expect that any of these matters, individually or in the aggregate, will have a material impact on our results of operations or financial condition.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In 1998, the bankruptcy trustee of FoxMeyer Corporation filed a lawsuit against us in the District Court of Harris
County (Houston), Texas. FoxMeyer, a pharmaceutical wholesaler, filed for bankruptcy protection in 1996, and since that time, the bankruptcy trustee has instituted legal proceedings against a number of companies in connection with the bankruptcy.
The bankruptcy trustee has alleged that we breached contracts, warranties and alleged fiduciary duties, made misrepresentations about our experience and expertise, were negligent in performing various tasks, that our conduct was tortious or in
violation of certain statutory provisions and that the foregoing were a substantial factor contributing to FoxMeyer&#146;s bankruptcy. The lawsuit arises out of our contract with FoxMeyer regarding the assistance we provided in connection with an
enterprise resource planning project to install SAP R/3, a software package developed by SAP AG, a German company. Discovery in this proceeding is ongoing, and a trial is scheduled to commence on November 12, 2001. While the ultimate outcome of this
matter cannot be determined with any certainty, we are vigorously defending against the claims, and we believe that this action is not likely to have a material adverse effect on our business, financial position, results of operation or cash
flows.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We maintain the types and amounts of insurance customary in the industries and countries in which we operate, including
coverage for professional liability, commercial general liability and management liability. We consider our insurance coverage to be adequate both as to the risks and amounts for the businesses we conduct.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Properties</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have major offices in the world&#146;s leading business centers, including New York, Chicago, Dallas, Los Angeles,
San Francisco, London, Frankfurt, Madrid, Milan, Paris, Sydney and Tokyo. In total, we have more than 110 offices in 46 countries around the world. We do not own any material real property. Substantially all of our office space is leased under
long-term leases with varying expiration dates. We believe that our facilities are adequate to meet our needs in the near future.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx13"></A>
MANAGEMENT</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Directors and Executive Officers</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table presents information regarding the directors and executive officers of Accenture Ltd. In addition,
we anticipate appointing up to five additional directors over the next 12 months who are not our employees or affiliated with our management.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Name</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Age</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Years with
<BR>
Accenture</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Position</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Joe W. Forehand</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">53</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">28</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Chief Executive Officer and Chairman of the
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Board of Directors</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Stephan A. James</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">54</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">33</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Chief Operating Officer and Director</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Karl-Heinz Fl&#246;ther</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">48</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;Financial Services Global
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Market Unit and Director</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Joel P. Friedman</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">53</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Director</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">William D. Green</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">47</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">23</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;Communications &amp; High Tech
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Global Market Unit and Director</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Masakatsu Mori</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">54</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">32</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Director</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Diego Visconti</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">51</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">25</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Director</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Jackson L. Wilson, Jr.&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">54</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">26</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Corporate Development Officer, Managing
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;General Partner&#151;Accenture Technology
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Ventures and Director</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Arnaud Andr&#233;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">46</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;People Matters</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">R. Timothy S. Breene</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">52</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;Global Service Lines</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Pamela J. Craig</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">44</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;Global Business Operations</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Gregg G. Hartemayer</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">48</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">25</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;Products Global Market Unit</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">David R. Hunter</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">50</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">28</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;Government Global Market
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Unit</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Jose Luis Manzanares</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">48</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">26</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;Geographic Services</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Michael G. McGrath</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">55</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">28</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Treasurer</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Douglas G. Scrivner</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">50</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">General Counsel and Secretary</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Mary A. Tolan</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">41</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;Resources Global Market Unit</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Harry L. You</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">42</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Chief Financial Officer</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joe W. Forehand</B> has been Chairman of the Board of Directors since February 2001 and has been our Chief Executive
Officer since November 1999. He currently serves as Chairman of our Executive Committee, our Global Leadership Council, our Growth &amp; Strategy Council and the board of directors of Accenture Technology Ventures. From June 1998 to November 1999,
Mr. Forehand was responsible for our Communications &amp; High Tech global market unit. From September 1997 to June 1998, he was responsible for our Products global market unit. From September 1994 to September 1997, Mr. Forehand was responsible for
our Products group in the Americas.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stephan A. James</B> has been a Director since February 2001 and our Chief Operating Officer since July 2000. He
currently serves as Chairman of our Operating Committee. From November 1999 to June 2000, he was responsible for our Resources global market unit. From September 1996 to October 1999, Mr. James was responsible for our Financial Services global
market unit. From September 1994 to August 1996, he was responsible for our Financial Services group in the Americas.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Karl-Heinz Fl&#246;ther</B> has been a Director since June 2001 and our Managing Partner&#151;Financial Services
Global Market Unit since December 1999. From June 1998 to February 2000, he was the Country Managing Partner of our Germany practice. From September 1997 to December 1999, he was responsible for our banking practice in continental Europe. From
September 1996 to August 1997, Mr. Fl&#246;ther was responsible for our consulting services in Western Europe.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joel P. Friedman</B> has been a Director since June 2001. He has been a General Partner in Accenture Technology
Ventures since February 2000. Mr. Friedman currently serves as a director on the board of Calico Commerce Inc., a publicly-traded Accenture Technology Ventures portfolio company. From 1997 to 2000, he was responsible for our Banking industry group
globally.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;William D. Green</B> has been a Director since June 2001 and our Managing Partner&#151;Communications &amp; High Tech
Global Market Unit since December 1999 and the Country Managing Partner of our United States practice since August 2000. From September 1997 to December 1999, Mr. Green was responsible for our Resources global market unit. From September 1996 to
September 1997, he was responsible for our manufacturing group in the Americas.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Masakatsu Mori</B> has been a Director since June 2001. He has been the Country Managing Partner of our Japan
practice since 1989. He is also the Managing Partner of the Japan operating unit.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diego Visconti</B> has been a Director since June 2001. He has been the Country Managing Partner of our Italy
practice since 1997. He has also been responsible for our Communications &amp; High Tech operating unit in Europe and Latin America since 1995.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jackson L. Wilson, Jr.</B> has been a Director since February 2001 and the Managing General Partner&#151;Accenture
Technology Ventures since November 1999 and our Corporate Development Officer since February 2001. He currently serves as a director on the boards of the following publicly-traded Accenture Technology Ventures portfolio companies: S1 Corporation and
SeeBeyond Technology Corporation. From June 1997 to November 1999, he was responsible for our global market units. From June 1995 to June 1997, Mr. Wilson was responsible for industry markets strategies and market and technology
solutions.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arnaud Andre</B> has been our Managing Partner&#151;People Matters since September 2000. From September 1997 to
August 2000, he was responsible for the development of our health services market in continental Europe. Prior to August 1997, Mr. Andr&#233; led our change management competency in France and the Benelux countries.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R. Timothy S. Breene</B> has been our Managing Partner&#151;Global Service Lines since August 2000. From December
1999 to August 2000, he was responsible for our capabilities development organization. From May 1998 to January 2000, Mr. Breene was responsible for our strategic services practice worldwide. From October 1997 to May 1998, he was responsible for our
strategic services practice in our Products global market unit. From June 1995 to October 1997, Mr. Breene was a client partner.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Pamela J. Craig</B> has been our Managing Partner&#151;Global Business Operations since June 2001. From February 2000
to June 2001, she was responsible for our Media &amp; Entertainment industry group globally and was also a General Partner in Accenture Technology Ventures Japan. From August 1998 to November 2000, Ms. Craig was responsible for our Media &amp;
Entertainment operating unit. From 1996 to August 1998, she was responsible for our Media &amp; Entertainment group in North America.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gregg G. Hartemayer</B> has been our Managing Partner&#151;Products Global Market Unit since July 1998. From
September 1997 to July 1998, Mr. Hartemayer was responsible for the consumer industry group within our Products global market unit. He currently serves as a director on the board of Click Commerce Inc., a publicly-traded Accenture Technology
Ventures portfolio company. From May 1996 to September 1997, he was responsible for the consumer industry group for the Americas.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;David R. Hunter</B> has been our Managing Partner&#151;Government Global Market Unit since September 1997 and was
responsible for our Government industry group from 1994 to 1997.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jose Luis Manzanares</B> has been our Managing Partner&#151;Geographic Services since December 1999. From September
1997 to December 1999, he was responsible for competency-related operations across Europe, the Middle East, Africa and India. From 1990 to 1997, Mr. Manzanares was the chief executive officer of Coritel, S.A., an information technology services
company and wholly-owned subsidiary of Accenture.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael G. McGrath</B> has been our Treasurer since June 2001. From September 1997 to June 2001, Mr. McGrath was our
Chief Financial Officer. From 1992 to 1997, he was responsible for quality and practice methodologies.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Douglas G. Scrivner</B> has been our General Counsel and Secretary since January 1996.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mary A. Tolan</B> has been our Managing Partner&#151;Resources Global Market Unit since August 2000. From December
1999 to August 2000, she was responsible for our strategy. From August 1998 to December 1999, Ms. Tolan was responsible for our Retail industry group globally. From April 1996 to August 1998, she was responsible for our Retail industry group in
North America.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harry L. You</B> has been our Chief Financial Officer since June 2001. From March 1996 to June 2001, he was a
Principal in the General Industrial Group and then a Managing Director at Morgan Stanley, responsible for the Computer and Business Services Group in the Investment Banking Division.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Board of Directors</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The bye-laws of Accenture Ltd provide for a board of directors that is divided into three classes serving staggered
three-year terms. Class I directors will initially have terms expiring at the annual general meeting to be held in calendar year 2002, Class II directors will initially have terms expiring at the annual general meeting to be held in calendar year
2003, and Class III directors will initially have terms expiring at the annual general meeting to be held in calendar year 2004. Messrs. Forehand, Friedman and Mori will be members of Class I, Messrs. James, Green and Visconti will be members of
Class II and Messrs. Wilson and Fl&#246;ther will be members of Class III. At each annual general meeting, directors will be elected for a full term of three years to succeed those directors of the relevant class whose terms are expiring. Directors
who are also our employees will not receive additional compensation for serving as directors.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our bye-laws provide that our partners may remove any director by a vote of two-thirds of the voting power subject to
the voting agreement at any time while the shares covered by the voting agreement represent a majority of Accenture Ltd&#146;s total voting power. At any other time a director may be removed at the request of not less than 75% of the other
directors.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We expect that Accenture Ltd&#146;s board of directors will adopt non-binding guidelines providing that, except for our
Chief Executive Officer and up to two additional inside directors designated by our Chief Executive Officer, Accenture Ltd&#146;s directors will not be allowed to serve more than three consecutive terms.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We also expect that Accenture Ltd&#146;s board of directors will adopt non-binding guidelines providing for a retirement
age of 65 for our directors.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of Accenture Ltd&#146;s executive officers will be appointed by and will serve at the discretion of Accenture
Ltd&#146;s board of directors. There are no family relationships among any of Accenture Ltd&#146;s directors and executive officers.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The board of directors will have three primary committees:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a nominating committee;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">an audit committee; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a compensation committee.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The nominating committee will make recommendations to the board regarding the size and composition of the board, work
with a committee of our partners to choose partner nominees for the position of director, establish procedures for the nomination of directors who are not affiliated with us, recommend candidates for election to the board, and nominate officers for
election by the board.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;The audit committee&#146;s primary duties and responsibilities will be to:</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">review the performance of the independent accountants and make recommendations to the board regarding the appointment or
termination of the independent accountants;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">oversee that management has maintained the reliability and integrity of our accounting policies and financial reporting and
disclosure practices;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">oversee that management has established and maintained procedures designed to assure that an adequate system of internal
controls is functioning; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">oversee that management has established and maintained procedures designed to assure our compliance with applicable laws,
regulations and corporate policy.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The compensation committee, or a subcommittee established by the compensation committee, will administer our
equity-based benefits plan and, based in part on the recommendation of a committee of our partners, review and approve salaries and other matters relating to the compensation of our executive officers. The compensation committee will also review and
make recommendations to the full board regarding board compensation.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From time to time, the board may establish other committees to facilitate the management of our business.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Outside Director Compensation</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have not yet paid any compensation to non-employee directors. We currently anticipate that in the future,
non-employee directors will receive the following compensation:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">an annual retainer of $50,000, which may be deferred by the individuals in whole or in part, through receipt of fully-vested
restricted share units;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">an initial grant of an option to purchase 25,000 Class A common shares upon election to the board of directors;
and</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">an annual grant of an option to purchase 10,000 Class A common shares.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We currently anticipate that each grant of options will vest fully after one year (or sooner upon death, disability or involuntary termination, or removal from the
board of directors) and will generally expire after 10 years. We do not currently intend to offer meeting fees or other retainer fees.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Executive Compensation</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to our transition to a corporate structure, our business was carried on as a series of related partnerships and
corporations under the control of our partners. As a result, meaningful individual
compensation information for our directors and executive officers is not available for prior periods. However, going forward our named executive officers will be compensated like our other partners as described below in &#147;&#151;Partner
Compensation.&#148;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of our Chief Executive Officer and our four most highly compensated named executive officers has entered into an
annual employment agreement which is renewed automatically. The employment agreements provide that these executive officers will receive compensation as determined by Accenture. Pursuant to the employment agreements, each of the executive officers
have also entered into a non-competition agreement, the terms of which are described under &#147;Certain Relationships and Related Transactions&#151;Non-Competition Agreement.&#148;</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We do not currently offer our executives any retirement or pension benefits. Our prior basic retirement and early
retirement plans were terminated in connection with our transition to a corporate structure. We have not yet determined what benefit plans, if any, would replace these programs.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth compensation information for our Chief Executive Officer and the four most highly
compensated executive officers named under &#147;&#151;Directors and Executive Officers&#148;:</FONT></DIV>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Fiscal 2000 Compensation Information (1)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Name and Principal Position</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Joe W. Forehand</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$4,000,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Chief Executive Officer</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD COLSPAN=3 VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Jackson L. Wilson, Jr.</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$4,600,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Corporate Development Officer and
<BR>
Managing General Partner&#151;Accenture Technology Ventures</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD COLSPAN=3 VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Stephan A. James</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$4,200,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Chief Operating Officer</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD COLSPAN=3 VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Michael G. McGrath</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$3,900,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Treasurer</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD COLSPAN=3 VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">William D. Green</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$3,500,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;Communications &amp; High Tech Global Market Unit</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Amounts in the table consist of distributions of partnership income, including realized gains on investments and return on
capital at risk. These amounts are not comparable to executive compensation in the customary sense.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aggregate compensation paid to key employees who are not named executive officers may exceed that paid to the named
executive officers.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Partner Compensation</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our partners&#146; compensation has historically been determined based on the &#147;unit&#148; level of the individual
partner. &#147;Units&#148; is an internal term we have used historically to quantify the relative level of participation our individual partners had in our income. Although the levels of cash compensation our partners receive have decreased from the
levels they received prior to our transition to a corporate structure, we expect that partner units will continue to be the primary basis for determining total cash compensation for our partners following the offering. Consequently, partner
compensation will be made up of fixed and variable components based upon a partner&#146;s unit level and our forecasted earnings per



unit for the year. As of June 1, 2001, a partner&#146;s fixed compensation on an annualized basis will range from approximately 40%-60% of such partner&#146;s compensation in fiscal 2000. More-senior partners with higher unit levels have had a
greater reduction in compensation. New partners have had a lower compensation reduction.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, partners may receive variable compensation based upon a profit pool. Following our transition to a
corporate structure, as part of our annual budgeting process, we set budgeted income amounts for our results and cash compensation to our partners. Since June 1, 2001 we are paying approximately 83% of budgeted cash compensation to our partners as
fixed compensation on a monthly basis during the year. Commencing September 1, 2001 we may pay an additional 17% as a bonus to the extent that our results meet the budgeted income amount. If our results exceed the budgeted income amount, we
currently intend to distribute a portion of the excess to our partners as an additional bonus. Accordingly, we expect that, if our earnings exceed our projections for any fiscal year, our partner compensation expense will increase and only a portion
of such excess will result in additional net income.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please see &#147;Certain Relationships and Related Transactions&#151;Partner Matters Agreement&#148; for a discussion of
the procedures by which our partners will participate in the determination of our partners&#146; income plan.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Non-Competition Agreement; Transfer Restrictions</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our executive officers, along with our other partners, have agreed to non-competition arrangements and limitations on
their ability to transfer the shares of Accenture Ltd, Accenture SCA and Accenture Canada Holdings they received in connection with our transition to a corporate structure. These arrangements are described in the sections of this prospectus entitled
&#147;Certain Relationships and Related Transactions&#151;Voting Agreement,&#148; &#147;&#151;Accenture SCA Transfer Rights Agreement&#148; and &#147;&#151;Non-Competition Agreement.&#148;</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>2001 Share Incentive Plan</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following description sets forth the material terms of the Accenture Ltd 2001 Share Incentive Plan, which we refer
to as our share incentive plan, and which has been filed as an exhibit to the registration statement of which this prospectus forms a part.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The share incentive plan permits the grant of nonqualified share options, incentive stock options, share appreciation
rights, restricted shares, restricted share units and other share-based awards to employees, directors, third-party consultants or former partners of, or other persons who perform services for, Accenture Ltd and its affiliates. A maximum of 375
million Class A common shares may be subject to awards under the share incentive plan. The number of Class A common shares issued or reserved pursuant to the share incentive plan, or pursuant to outstanding awards, is subject to adjustment on
account of share splits, share dividends and other dilutive changes in the Class A common shares. Class A common shares covered by awards that expire, terminate or lapse will again be available for the grant of awards under the share incentive
plan.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Administration</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The share incentive plan is administered by a committee of the board of directors of Accenture Ltd, which may delegate
its duties and powers in whole or in part as it determines. The committee has the sole discretion to determine the employees, directors, third party consultants, former partners and other persons who perform services for us or our affiliates to whom
awards may be granted under the share incentive plan and the manner in which such awards will vest. Options, share appreciation rights,

restricted shares, restricted share units and other share-based awards will be granted by the committee to employees, directors, third party consultants, former partners and other persons who perform services for Accenture Ltd and its affiliates
(including its subsidiaries) in such numbers and at such times during the term of the share incentive plan as the committee shall determine. The committee is authorized to interpret the share incentive plan, to establish, amend and rescind any rules
and regulations relating to the share incentive plan and to make any other determinations that it deems necessary or desirable for the administration of the share incentive plan. The committee may correct any defect, supply any omission or reconcile
any inconsistency in the share incentive plan in the manner and to the extent the committee deems necessary or desirable.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Options</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The committee shall determine the exercise price for each option, provided, however, that an incentive stock option must
generally have an exercise price that is at least equal to the fair market value of the Class A common shares on the date the option is granted. An option holder may exercise an option by written notice and payment of the exercise price (1) in cash;
(2) by the transfer to our nominee of a number of Class A common shares already owned by the option holder for at least six months, or another period consistent with applicable accounting rules, with a fair market value equal to the exercise price;
(3) in a combination of cash and Class A common shares (as qualified by clause (2)); or (4) through the delivery of irrevocable instructions to a broker to sell Class A common shares obtained upon the exercise of the options and deliver promptly to
us an amount out of the proceeds of the sale equal to the exercise price for the Class A common shares being purchased.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Share Appreciation Rights</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The committee may grant share appreciation rights independent of, or in connection with, an option. The exercise price
per share of a share appreciation right shall be an amount determined by the committee. Generally, each share appreciation right shall entitle a participant upon exercise to an amount equal to the product of (1) the excess of (A) the fair market
value on the exercise date of one Class A common share over (B) the exercise price, times (2) the number of Class A common shares covered by the share appreciation right. Payment shall be made in Class A common shares, valued at fair market value,
or in cash, or partly in Class A common shares and partly in cash, all as shall be determined by the committee.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Restricted Share Units and Other Share-Based Awards</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The committee may grant awards of restricted share units, Class A common shares, restricted shares and awards that are
valued in whole or in part by reference to, or are otherwise based on the fair market value of, Class A common shares. The restricted share units and other share-based awards will be subject to the terms and conditions established by the
committee.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Transferability</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise determined by the committee, awards granted under the share incentive plan are not transferable other
than by will or by the laws of descent and distribution.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Change in Control</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of a change in control, (1) any outstanding awards then held by participants that are unexercisable or
otherwise unvested shall automatically be deemed exercisable or otherwise vested, as the case may be, as of immediately prior to the change in control, and (2) the committee may
(A) terminate an award upon the change in control, (B) make provision for a cash payment to the holder of an award in consideration for the cancellation of the award and/or (C) provide for substitute awards.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Amendment and Termination</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our board of directors may amend, alter or discontinue the share incentive plan in any respect at any time, but no
amendment can diminish any of the rights of a participant under any awards previously granted, without the participant&#146;s consent.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>United States Federal Income Tax Consequences of the Exercise of Options, Share Appreciation Rights and Restricted Share Units under the Share Incentive
Plan</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following discussion of the United States federal income tax consequences relating to the share incentive plan is
based on present United States federal tax laws and regulations and does not purport to be a complete description of the United States federal income tax laws. Participants may also be subject to certain U.S. state and local taxes and non-U.S.
taxes, which are not described below.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When a nonqualified share option is granted, there are no income tax consequences for the option holder or us. When a
nonqualified share option is exercised, in general, the option holder recognizes compensation equal to the excess, if any, of the fair market value of the Class A common shares on the date of exercise over the exercise price. We are entitled to a
deduction equal to the compensation recognized by the option holder.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When an incentive stock option is granted, there are no income tax consequences for the option holder or us. When an
incentive stock option is exercised, the option holder does not recognize income and we do not receive a deduction. The option holder, however, must treat the excess, if any, of the fair market value of the Class A common shares on the date of
exercise over the exercise price as an item of adjustment for purposes of the alternative minimum tax. If the option holder disposes of Class A common shares after the option holder has held the Class A common shares for at least two years after the
incentive stock option was granted and one year after the incentive stock option was exercised, the amount the option holder receives upon the disposition over the exercise price is treated as long-term capital gain to the option holder. We are not
entitled to a deduction. If the option holder makes a &#147;disqualifying disposition&#148; of the Class A common shares by disposing of the Class A common shares before such shares have been held for the holding period described above, the option
holder generally recognizes compensation income equal to the excess, if any, of (1) the fair market value of the Class A common shares on the date the incentive stock option was exercised, or, if less, the amount received on the disposition, over
(2) the exercise price. We are entitled to a deduction equal to the compensation recognized by the option holder.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When a share appreciation right is granted, there are no income tax consequences for the participant or us. When a share
appreciation right is exercised, in general, the participant recognizes compensation equal to the cash and/or the fair market value of the Class A common shares received upon exercise. We are entitled to a deduction equal to the compensation
recognized by the participant.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When a restricted share unit is granted, there are no income tax consequences for the participant or us. Upon the
payment to the participant of Class A common shares in respect of restricted share units, the participant recognizes compensation equal to the fair market value of the Class A common shares received. We are entitled to a deduction equal to the
compensation recognized by the participant.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Employee Awards</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On the date of the consummation of the offering, we intend to grant awards of restricted share units and options to
purchase our Class A common shares to some of our partners and employees. The restricted share units and options will be granted under the share incentive plan described above.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>Restricted Share Units and Options</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each restricted share unit awarded to a participant will represent an unfunded, unsecured right, which is
nontransferable except in the event of death, of the participant to receive a Class A common share on the date specified in the participant&#146;s award agreement. A participant who receives an award of restricted share units will not have any
rights as a shareholder until the Class A common shares underlying the award are issued and allotted. Except as noted below, no additional service will be required to obtain delivery of the underlying Class A common shares.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An option to purchase Class A common shares will have an exercise price generally equal to the initial public offering
price per share. Subject to an option holder&#146;s continued employment, vested options generally will remain exercisable until the tenth anniversary of the consummation of the offering.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Specifically, we intend to grant the following awards at the time of the offering:</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">some of our employees will receive a grant of restricted share units which will vest on August 31, 2001, and with respect to
which up to an aggregate of 17,159,305 Class A common shares generally will be deliverable in eight installments beginning 12 months after the date of grant;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">some of our recently admitted partners will receive a grant of restricted share units which will vest in five equal annual
installments beginning one year after the date of grant and with respect to which up to an aggregate of 6,695,091 Class A common shares generally will be deliverable in eight installments beginning 12 months after the date of grant;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">some of our recently admitted partners and some of our employees will receive a grant of options to purchase an aggregate of
14,470,000 Class A common shares that will vest in five equal annual installments beginning one year after the date of grant;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">some of our former partners will receive a grant of restricted share units with respect to which up to an aggregate of
15,042,077 Class A common shares will be deliverable either 12 or 24 months after the date of grant;<B></B></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">substantially all of our employees will receive a grant of restricted share units with respect to which up to an aggregate of
17,500,000 Class A common shares will be deliverable 18 months after the date of grant and up to an aggregate of 17,500,000 Class A common shares will be deliverable 36 months after the date of grant; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">some of our employees will receive a grant of options to purchase an aggregate of 84,525,000 Class A common shares that will
vest in four equal annual installments beginning one year after the date of grant.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>2001 Employee Share Purchase Plan</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following description sets forth the material terms of the Accenture 2001 Employee Share Purchase Plan, which we
refer to as our employee share purchase plan, and which has been filed as an exhibit to the registration statement of which this prospectus forms a part. We currently plan to implement the employee share purchase plan shortly following the
offering.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A maximum of 75 million Class A common shares may be issued under the employee share purchase plan. The number of Class
A common shares issued or reserved pursuant to the employee share purchase plan (or pursuant to outstanding awards) is subject to adjustment on account of share splits, share dividends and other dilutive changes in our Class A common shares. The
Class A common shares may consist of unissued Class A common shares or previously issued Class A common shares.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>Administration</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The employee share purchase plan will be administered by the compensation committee of the board of directors of
Accenture Ltd. The committee will have the authority to make rules and regulations for the administration of the plan and its interpretations, and decisions with regard to the employee share purchase plan, and such rules and regulations will be
final and conclusive.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Eligibility</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We currently expect that each employee of Accenture Ltd or a participating subsidiary will be eligible to participate in
the employee share purchase plan, except that the committee may exclude employees (either generally or by reference to a subset thereof) (1) whose customary employment is for less than five months per calendar year or for less than 20 hours per
week, (2) who own shares possessing 5% or more of the total combined voting power or value of all classes of shares of Accenture Ltd or any subsidiary or (3) who are highly compensated employees under the Internal Revenue Code of 1986, as
amended.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Participation in the Plan</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eligible employees may participate in the employee share purchase plan by electing to participate in a given offering
period pursuant to procedures set forth by the committee. A participant&#146;s participation in the employee share purchase plan will continue until the participant makes a new election, or withdraws from an offering period or the plan.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Payroll Deductions</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payroll deductions will be made from the compensation paid to each participant for each offering period in such whole
percentage not to exceed 10% as elected by the participant, provided that no participant will be entitled to purchase, during any calendar year, Class A common shares with an aggregate fair market value in excess of $25,000.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Termination of Participation in the Plan</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The committee will determine the terms and conditions under which a participant may withdraw from an offering period or
the employee share purchase plan. A participant&#146;s participation in the employee share purchase plan will be terminated upon the termination of the participant&#146;s employment for any reason. In general, upon a termination of a
participant&#146;s employment, all payroll deductions credited to the participant&#146;s plan account will be returned without interest to the participant or the participant&#146;s beneficiary.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Purchase of Shares</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to an offering period, each participant will be granted an option. On the last day of each offering period
or on an earlier date as determined by the committee, which we refer to as a purchase date, we will apply the funds in each participant&#146;s account to purchase Class A common shares. The purchase price will be set by the committee, but cannot be
less than 85% of the lesser of the fair market value of the Class A common shares on the grant date or the purchase date. As soon as practicable after each purchase date, the number of Class A common shares purchased by each participant will be
deposited in a brokerage account established in the participant&#146;s name. At any time after the 24 month period following the relevant purchase date, the participant may (1) transfer the Class A common shares to another brokerage account or (2)
request in writing that Class A common shares be



issued to the participant with respect to the whole Class A common shares in the participant&#146;s brokerage account and that any fractional Class A common shares remaining in the account be paid in cash to the participant.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Amendment and Termination</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our board of directors may amend, alter or discontinue the employee share purchase plan, provided, however, that no
amendment, alteration or discontinuation will be made that would increase the number of Class A common shares authorized for the employee share purchase plan or, without a participant&#146;s consent, would impair the participant&#146;s rights and
obligations under the plan.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The employee share purchase plan will terminate upon the earliest of (1) the termination of the employee share purchase
plan by our board of directors; (2) the issuance of all of the Class A common shares reserved for issuance under the plan; or (3) the tenth anniversary of the effective date of the employee share purchase plan.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Withholding</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We reserve the right to withhold from Class A common shares or cash distributed to a participant any amounts which we
are required by law to withhold.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Change in Control</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of a change in control, the committee may take any actions it deems necessary or desirable with respect to
any option as of the date of the consummation of the change in control.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>United States Federal Income Tax Consequences of Participation in the Employee Share Purchase Plan</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following discussion of the United States federal income tax consequences relating to the employee share purchase
plan is based on present United States federal tax laws and regulations and does not purport to be a complete description of the United States federal income tax laws. Participants may also be subject to certain U.S. state and local taxes and
non-U.S. taxes, which are not described below.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the purchase of the Class A common shares, the participant will recognize ordinary income in an amount equal to the
excess of the fair market value of the Class A common shares on the purchase date over the purchase price paid by the participant for the Class A common shares, and we will be entitled to a corresponding deduction for federal income tax purposes. In
addition, upon the disposition of the Class A common shares, the participant will recognize a capital gain or loss in an amount equal to the difference between the selling price of the Class A common shares and the fair market value of the Class A
common shares on the purchase date. We will not receive a deduction for federal income tax purposes with respect to any capital gain or loss recognized by a participant.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alternatively, if the employee share purchase plan qualifies as an &#147;employee stock purchase plan&#148; under
Section 423 of the Internal Revenue Code of 1986, as amended, different tax consequences will apply. Under the Internal Revenue Code, no taxable income is generally recognized by a participant either as of the grant date or as of the purchase date.
Depending upon the length of time the acquired Class A common shares are held by the participant, the federal income tax consequences will vary. If the Class A common shares are held for a period of two years or more from the grant date and for at
least one year from the purchase date (the &#147;required period&#148;), and are sold at a price in excess of the purchase



price paid by the participant for the Class A common shares, the gain on the sale of the Class A common shares will be taxed as ordinary income to the participant to the extent of the lesser of (1) the amount by which the fair market value of the
Class A common shares on the grant date exceeded the purchase price or (2) the amount by which the fair market value of the Class A common shares at the time of their sale exceeded the purchase price. Any portion of the gain not taxed as ordinary
income will be treated as long-term capital gain. If the Class A common shares are held for the required period and are sold at a price less than the purchase price paid by the participant for the Class A common shares, the loss on the sale will be
treated as a long-term capital loss to the participant. We will not be entitled to any deduction for federal income tax purposes for the Class A common shares held for the required period that are subsequently sold by the participant, whether at a
gain or loss.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a participant disposes of Class A common shares within the required period (a &#147;disqualifying disposition&#148;),
the participant will recognize ordinary income in an amount equal to the difference between the purchase price paid by the participant for the Class A common shares and the fair market value of the Class A common shares on the purchase date, and we
will be entitled to a corresponding deduction for federal income tax purposes. In addition, if a participant makes a disqualifying disposition at a price in excess of the purchase price paid by the participant for the Class A common shares, the
participant will recognize a capital gain in an amount equal to the difference between the selling price of the Class A common shares and the fair market value of the Class A common shares on the purchase date. Alternatively, if a participant makes
a disqualifying disposition at a price less than the fair market value of the Class A common shares on the purchase date, the participant will recognize a capital loss in an amount equal to the difference between the fair market value of the Class A
common shares on the purchase date and the selling price of the Class A common shares. We will not receive a deduction for federal income tax purposes with respect to any capital gain recognized by a participant who makes a disqualifying
disposition.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Other Information</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of May 31, 2001, more than 75,000 employees of Accenture Ltd and its subsidiaries would have been eligible for
participation in the employee share purchase plan. Because the benefits conveyed under the employee share purchase plan are contingent upon, among other things, the amount of contributions participating employees make on a voluntary basis, it is not
possible to predict what benefits eligible employees will receive under the employee share purchase plan.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx14"></A>
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Reorganization and Related Transactions</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have completed or will complete a number of transactions in order to have Accenture assume the corporate structure
described in this prospectus.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The principal reorganization transactions and related transactions are summarized below.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Reorganization Transactions</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Our partners received shares in our global corporate structure in lieu of their interests in our local business operations.
Our partners in Australia, Denmark, France, Italy, Norway, Spain, Sweden and the United States received an aggregate of 587,302,062 Accenture SCA Class I common shares in lieu of their interests in our local operations in those countries. Our
partners in Canada and New Zealand received an aggregate of 8,160,742 Accenture Canada Holdings exchangeable shares in lieu of their interests in our local operations in those countries. Our partners elsewhere received an aggregate of 212,335,219
Accenture Ltd Class A common shares in lieu of their interests in our local operations in the relevant countries. Most of our partners receiving Accenture SCA Class I common shares or Accenture Canada Holdings exchangeable shares received a
corresponding number of Accenture Ltd Class X common shares. Class X common shares entitle the holder to voting rights in Accenture Ltd but no economic rights. Some of our partners will not hold Class X common shares and accordingly will not have
voting rights in Accenture Ltd. For more information see &#147;Accenture Organizational Structure&#148; and &#147;Description of Share Capital.&#148;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">In connection with our transition to a corporate structure, each partner&#146;s paid-in capital has been returned to that
partner.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Related Transactions</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">On the date of the consummation of the offering, we intend to grant restricted share units and options to purchase our Class
A common shares to substantially all our employees and some of our partners. The restricted share units represent the right to receive up to an aggregate of 73,896,473 Class A common shares valued at $1,035 million at no future cost to our employees
or partners. The options represent the right to purchase up to an aggregate of 98,995,000 Class A common shares at an exercise price generally equal to the initial public offering price per share. See &#147;Management&#151;Employee
Awards.&#148;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">We expect to distribute to our partners any earnings undistributed as of the date of the consummation of our transition to a
corporate structure in one or more installments on or prior to December 31, 2001.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">After the consummation of the offering, we and several of our partners expect to make a contribution of cash, Accenture SCA
Class I common shares or Accenture Ltd Class A common shares to Accenture Foundation, Inc., a New York not-for-profit corporation, or to comparable entities in other jurisdictions.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Voting Agreement</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following is a description of the material terms of the voting agreement, the form of which has been filed as an exhibit
to the registration statement of which this prospectus forms a part. See &#147;Where You Can Find More Information.&#148;</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>Persons and Shares Covered</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd and each of our partners who own Accenture Ltd Class A or Class X common shares have entered into a voting
agreement and each other person who becomes a partner will be required to enter into the voting agreement. We refer to the parties to the voting agreement, other than Accenture Ltd, as &#147;covered persons.&#148;</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Accenture Ltd shares covered by the voting agreement generally include (1) any Accenture Ltd Class X common shares
that are held by a partner, (2) any Accenture Ltd common shares beneficially owned by a partner at the time in question and also as of or prior to the offering and (3) any Accenture Ltd common shares if they are received from us while our employee,
a partner or in connection with becoming a partner or otherwise acquired if the acquisition is required by us. We refer to the shares covered by the voting agreement as &#147;covered shares.&#148; Common shares purchased by a covered person in the
open market or, subject to certain limitations, in a subsequent underwritten public offering, will not be subject to the voting agreement. When a covered person ceases to be an employee of Accenture, the shares held by that covered person will no
longer be subject to the voting provisions of the voting agreement described below under &#147;&#151;Voting.&#148;</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each partner elected after the offering will agree in the voting agreement to own at least 5,000 Class A common shares
by the end of the third year after that covered person becomes a partner and to hold at least that number of shares for so long as that covered person is a partner.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Transfer Restrictions</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By entering into the voting agreement, each covered person has agreed, among other things, to:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">except as described below, maintain beneficial ownership of his or her covered shares received on or prior to the date of the
offering for a period of eight years thereafter;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">maintain beneficial ownership of at least 25% of his or her covered shares received on or prior to the date of the offering
as long as he or she is an employee of Accenture; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">comply with the underwriters&#146; 180-day lock-up arrangement described under &#147;Underwriting&#148; and with certain
other transfer restrictions when requested to do so by Accenture.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the transfer restrictions described in this summary, covered persons who continue to be employees of
Accenture will be permitted to transfer a percentage of the covered shares owned by them on each anniversary of the offering commencing on the first anniversary of the offering as follows:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="528" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Cumulative percentage of
<BR>
shares permitted to
<BR>
be transferred</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Years after offering</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1 year</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The later of (a) 8 years and (b) end of
<BR>
employment at Accenture</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partners retiring from Accenture at the age of 50 or above will be permitted to transfer covered shares they own on an
accelerated basis commencing on the first anniversary of the offering. In addition, beginning one year after the offering, a retired partner who reaches the age of 56 will be permitted to transfer any covered shares he or she owns. Partners who
become disabled before our transition to a corporate structure will be permitted to transfer all of their covered shares one year after the offering. Partners who become disabled following our transition to a corporate structure will be subject to
the general transfer restrictions applicable to our employees or, if disabled after the age of 50, will benefit from the accelerated lapses of transfer restrictions applicable to retired partners.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Accenture approves in writing a covered person&#146;s pledge of his covered shares to a lender, foreclosures by the
lender on those shares, and any subsequent sales of those shares by the lender, are not restricted, provided that the lender must give Accenture a right of first refusal to buy any shares at the market price before they are sold by the
lender.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All transfer restrictions applicable to a covered person under the voting agreement, except for the underwriters&#146;
180-day lock-up, terminate upon death.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the transfer restrictions described in this summary, Class X common shares of Accenture Ltd may not be
transferred at any time, except upon the death of a holder of Class X common shares or with the consent of Accenture Ltd.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Canada Holdings exchangeable shares held by covered persons are also subject to the transfer restrictions in
the voting agreement.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For a description of the waiver provisions relating to these transfer restrictions, see &#147;&#151;Waivers and
Adjustments&#148; below.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Other Restrictions</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The voting agreement also prevents covered persons from engaging in the following activities with any person who is not
a party to the voting agreement or a director, officer or employee of Accenture:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">participating in a proxy solicitation with respect to shares of Accenture;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">depositing any covered shares in a voting trust or subjecting any of these shares to any voting agreement or
arrangement;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">forming, joining or in any way participating in a &#147;group&#148; that agrees to vote or dispose of shares of Accenture in
a particular manner;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">except as provided in the partner matters agreement, proposing certain transactions with Accenture;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">seeking the removal of any member of the board of directors of Accenture Ltd or any change in the composition of Accenture
Ltd&#146;s board of directors;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">making any offer or proposal to acquire any securities or assets of Accenture; or</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">participating in a call for any special meeting of the shareholders of Accenture Ltd.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Voting</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the voting agreement, prior to any vote of the shareholders of Accenture Ltd, a separate, preliminary vote of the
covered shares owned by covered persons who are employees of Accenture will be taken on each matter upon which a vote of the shareholders is proposed to be taken. Subsequently, all of these covered shares will be voted in the vote of the
shareholders of Accenture Ltd in accordance with the majority of the votes cast in the preliminary vote.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, in elections of directors, all covered shares owned by covered persons who are employees
will be voted in favor of the election of those persons receiving the highest numbers of votes cast in the preliminary vote. In the case of a vote for an amendment to Accenture Ltd&#146;s constituent documents, or with respect to an amalgamation,
liquidation, dissolution, sale of all or substantially all of its property and assets or any similar transaction with respect to Accenture Ltd, all covered shares owned by covered persons who are employees of Accenture will be voted against the
proposal unless at least 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% of the votes in the preliminary
vote are cast in favor of that proposal, in which case all of these covered shares will be voted in favor of the proposal. </FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a result of these voting arrangements and the fact that the shares voted pursuant to the preliminary vote will
initially comprise approximately 82% of the voting shares of Accenture Ltd, or 80% if the underwriters exercise their overallotment option in full, our partners will effectively control all votes of shareholders of Accenture Ltd.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;So long as the covered shares represent a majority of the outstanding voting power of Accenture Ltd, partners from any
one country will not have more than 50% of the voting power in any preliminary vote under the voting agreement.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See &#147;Risk Factors&#151;Risks That Relate to Your Ownership of Our Class A Common Shares&#151;We will continue to be
controlled by our partners, whose interests may differ from those of our other shareholders.&#148;</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Term and Amendment</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The voting agreement will continue in effect until the earlier of 50 years from the date of the voting agreement and the
time it is terminated by the vote of 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% of the votes represented by the
covered shares owned by covered persons who are our employees. The transfer restrictions will not terminate upon the expiration or termination of the voting agreement unless they have been previously waived or terminated under the terms of the
voting agreement. The voting agreement may generally be amended at any time by the affirmative vote of 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% of the votes represented by the
covered shares owned by covered persons who are our employees. Amendment of the transfer restrictions also requires the consent of Accenture Ltd. </FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Waivers and Adjustments</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The transfer restrictions and the other provisions of the voting agreement may be waived at any time by the partners
representatives to permit covered persons to:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">participate as sellers in underwritten public offerings of common shares and tender and exchange offers and share repurchase
programs by Accenture;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">transfer covered shares to charities, including charitable foundations;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">transfer covered shares held in employee benefit plans; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">transfer covered shares in particular situations (for example, to immediate family members and trusts).</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the foregoing, the provisions of the voting agreement may generally be waived by the affirmative vote of
66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% of the votes represented by the
covered shares owned by covered persons who are employees of Accenture. A general waiver of the transfer restrictions also requires the consent of Accenture Ltd. </FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In any event, Accenture Ltd will agree in the underwriting agreement not to waive the underwriters&#146; 180-day lock-up
without the consent of Goldman, Sachs &amp; Co. and Morgan Stanley &amp; Co. Incorporated.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Administration and Resolution of Disputes</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The terms and provisions of the voting agreement will be administered by the partners representatives, which will
consist of persons who are both partners of Accenture and members of Accenture Ltd&#146;s board of directors and who agree to serve in such capacity. The partners representatives will have the sole power to enforce the provisions of the voting
agreement. No persons not a party to the voting agreement are beneficiaries of the provisions of the voting agreement.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Accenture SCA Transfer Rights Agreement</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following is a description of the material terms of the transfer rights agreement, the form of which has been filed as
an exhibit to the registration statement of which this prospectus forms a part. See &#147;Where You Can Find More Information.&#148;</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Persons and Shares Covered</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture SCA and each of our partners who own shares of Accenture SCA have entered into a transfer rights agreement. We
refer to parties to the transfer rights agreement, other than Accenture SCA, as &#147;covered persons.&#148;</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Accenture SCA shares covered by the transfer rights agreement generally include all Class I common shares of
Accenture SCA owned by a covered person. We refer to the shares covered by the transfer rights agreement as &#147;covered shares.&#148;</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Transfer Restrictions</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The articles of association of Accenture SCA provide that shares of Accenture SCA may be transferred only with the
consent of the Accenture SCA supervisory board or its delegate, the Accenture SCA partners committee. In addition, by entering into the transfer rights agreement, each party agrees, among other things, to:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">except as described below, maintain beneficial ownership of his or her covered shares received on or prior to the date of the
offering for a period of eight years thereafter;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">maintain beneficial ownership of at least 25% of his or her covered shares received on or prior to the date of the offering
as long as he or she is an employee of Accenture; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">comply with certain other transfer restrictions when requested to do so by Accenture.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the transfer restrictions described in this summary, covered persons who continue to be employees of
Accenture will be permitted to transfer a percentage of the covered shares owned by them on each anniversary of the offering commencing on the first anniversary of the offering as follows:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="420" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Cumulative percentage of
<BR>
shares permitted to
<BR>
be transferred</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Years after offering</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1 year</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The later of (a) 8 years and (b) end of
<BR>
employment at Accenture</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partners retiring from Accenture at the age of 50 or above will be permitted to transfer covered shares they own on an
accelerated basis commencing on the first anniversary of the offering. In addition, beginning one year after the offering, a retired partner who reaches the age of 56 will be permitted to transfer any covered shares he or she owns. Partners who
become disabled before our transition to a corporate structure will be permitted to transfer all of their covered shares one year after the offering. Partners who become disabled following our transition to a corporate structure will be subject to
the general transfer restrictions applicable to our employees or, if disabled after the age of 50, will benefit from the accelerated lapses of transfer restrictions applicable to retired partners.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, at any time after the third anniversary of the date of the consummation of our transition to a corporate
structure, covered persons holding Accenture SCA Class I common shares may, without restriction, require Accenture SCA to redeem any Accenture SCA Class I common share held by such holder for a redemption price per share generally equal to the lower
of the market price of an Accenture Ltd Class A common share and $1.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Accenture approves in writing a covered person&#146;s pledge of his covered shares to a lender, foreclosures by the
lender on those shares, and any subsequent sales of those shares by the lender, are not restricted, provided that the lender must give Accenture a right of first refusal to buy any shares at the market price before they are sold by the
lender.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All transfer restrictions applicable to a covered person under the transfer rights agreement terminate upon
death.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For a description of the waiver provisions relating to these transfer restrictions, see &#147;&#151;Waivers and
Adjustments&#148; below.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Term and Amendment</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The transfer rights agreement will continue in effect until the earlier of 50 years from the date of the transfer rights
agreement and the time it is terminated by the vote of 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% of the votes represented by the
covered shares owned by covered persons who are our employees. The transfer restrictions will not terminate upon the expiration or termination of the transfer rights agreement unless they have been previously waived or terminated under the terms of
the transfer rights agreement. The transfer rights agreement may generally be amended at any time by the affirmative vote of 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% of the votes represented by the
covered shares owned by covered persons who are our employees. Amendment of the transfer restrictions also requires the consent of Accenture SCA. </FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Waivers and Adjustments</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The transfer restrictions and the other provisions of the transfer rights agreement may be waived at any time by the
Accenture SCA partners committee to permit covered persons to:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">participate as sellers in underwritten public offerings of common shares and tender and exchange offers and share repurchase
programs by Accenture;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">transfer covered shares to charities, including charitable foundations;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">transfer covered shares held in employee benefit plans; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">transfer covered shares in particular situations (for example, to immediate family members and trusts).</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the foregoing, the provisions of the transfer rights agreement may generally be waived by the affirmative
vote of 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% of the votes represented by the
covered shares owned by covered persons who are employees of Accenture. A general waiver of the transfer restrictions also requires the consent of Accenture SCA. </FONT></DIV>
<DIV ALIGN="left">


</DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Administration and Resolution of Disputes</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The terms and provisions of the transfer rights agreement will be administered by the Accenture SCA partners committee,
which will consist of persons who are both partners of Accenture and members of the supervisory board of Accenture SCA and who agree to serve in such capacity. The Accenture SCA partners committee will have the sole power to enforce the provisions
of the transfer rights agreement. No persons not a party to the transfer rights agreement are beneficiaries of the provisions of the transfer rights agreement.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Partner Matters Agreement</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following is a description of the material terms of the partner matters agreement, the form of which has been filed as
an exhibit to the registration statement of which this prospectus forms a part. See &#147;Where You Can Find More Information.&#148;</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>General; Persons and Shares Covered</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd and, with limited exceptions, each of our partners have entered into a partner matters agreement and each
other person who becomes a partner will be required to enter into the partner matters agreement. The purpose of the partner matters agreement is to establish procedures for continued involvement of our partners in the management of Accenture.
Partners will vote in partner matters votes held in accordance with the partner matters agreement based on, generally, (1) all Accenture Ltd common shares, restricted share units and options to acquire Accenture Ltd common shares held by a partner
if they were received from us as a partner or in connection with becoming a partner and (2) all Accenture Ltd common shares otherwise acquired by a partner if the acquisition is required by us. Accenture Ltd common shares, restricted share units and
options to acquire Accenture Ltd common shares acquired as our employee, prior to becoming a partner, will not be relevant to a partner&#146;s vote in a partner matters vote. Accenture Ltd common shares purchased by partners in the open market will
also not be relevant to a partner&#146;s vote in a partner matters vote, unless such purchase was required by us.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The partner matters agreement provides, among other things, mechanisms for our partners to:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">select, for three to five years after the offering, five partner nominees for membership on the board of directors of
Accenture Ltd;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">make a non-binding recommendation to the board of directors of Accenture Ltd through a committee of partners regarding the
selection of a chief executive officer of Accenture Ltd in the event a new chief executive officer is appointed within the first four years after the offering;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">vote on new partner admissions;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">approve the partners&#146; income plan as described below; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">hold a non-binding vote with respect to any decision to eliminate or materially change the current practice of allocating
partner compensation on a relative, or &#147;unit,&#148; basis.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the terms of the partner matters agreement, a partners&#146; income committee, consisting of the chief executive
officer and partners he or she appoints, reviews evaluations and recommendations concerning the performance of partners and determines relative levels of income participation, or unit allocation. Based on its review, the committee will prepare a
partners&#146; income plan, which then must be submitted to the partners in a partner matters vote. If the plan is approved by a 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% partner matters vote, it is (1)
subject to the impact on overall unit allocation of determinations by the board of directors or the compensation committee of the board of directors of the unit allocation for the executive officers, binding with respect to the income participation
or unit allocation of all partners other than the principal executive officers of Accenture Ltd (including the chief executive officer), unless otherwise determined by the board of directors and (2) submitted to the compensation committee of the
board of directors as a recommendation with respect to the income participation or unit allocation of the chief executive officer and the other principal executive officers of Accenture Ltd. </FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After the consummation of the offering, partners will continue to vote on the admission of new partners. New partners
will be approved by a 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% partner matters vote. </FONT></DIV>

<DIV ALIGN="left">


</DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Term and Amendment; Waivers and Adjustments</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The partner matters agreement will continue in effect until it is terminated by a 66</FONT><FONT SIZE="1"
COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% partner matters vote. </FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any partner who ceases to be a partner of Accenture will no longer be a party to the partner matters agreement. The
partner matters agreement may generally be amended or waived at any time by a 66</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><SUP>&nbsp;2</SUP>
</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">3</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">% partner matters vote. </FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Administration and Resolution of Disputes</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The terms and provisions of the partner matters agreement will be administered by the partner matters representatives,
who will consist of persons who are both partners of Accenture and members of Accenture Ltd&#146;s board of directors and who agree to serve in such capacity. The partner matters representatives will have the sole power to enforce the provisions of
the partner matters agreement. No persons not a party to the partner matters agreement are beneficiaries of the provisions of the partner matters agreement.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Non-Competition Agreement</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following is a description of the material terms of the non-competition agreements, the form of which have been filed as
exhibits to the registration statement of which this prospectus forms a part. See &#147;Where You Can Find More Information.&#148;</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Persons Covered</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of our partners as of the date of the consummation of our transition to a corporate structure has entered into a
non-competition agreement.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Restricted Activities</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each partner party to a non-competition agreement has agreed that, for a &#147;restricted period&#148; ending on the
later of five years following the date of the offering or 18 months following the termination of that partner&#146;s employment with us or our affiliates, he or she will not (1) associate with and engage in consulting services for any competitive
enterprise or (2) solicit or assist any other entity in soliciting any client or prospective client for the purposes of providing consulting services, perform consulting services for any client or prospective client, or interfere with or damage any
relationship between us and a client or prospective client.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, each partner has agreed that for the restricted period he or she will not solicit or employ any Accenture
employee or any former employee who ceased working for us within an eighteen-month period before or after the date on which the partner&#146;s employment with us or our affiliates terminated.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Enforcement</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each partner has agreed that if the partner were to breach any provisions of the non-competition agreement, we would be
entitled to equitable relief restraining that partner from committing any violation of the non-competition agreement. In addition, each partner has agreed that if the partner were to breach any provisions of the non-competition agreement, he or she
will pay to us a predetermined amount as



and for liquidated damages and that those liquidated damages will be secured by that partner&#146;s shares pursuant to a pledge agreement, which has been entered into by the parties. Notwithstanding the pledge agreement, partners will be permitted
to dispose of their pledged securities in accordance with the terms of the voting agreement or the transfer rights agreement, as the case may be, and to receive the proceeds from such dispositions.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because the laws concerning the enforcement of non-competition agreements vary, we may not be able to strictly enforce
these terms in all jurisdictions.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Waiver and Termination</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We may waive non-competition agreements or any portion thereof with the consent of, and in the discretion of, the chief
executive officer of Accenture Ltd. The non-competition agreements will terminate upon a change in control of Accenture Ltd.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Partner Liquidity Arrangements</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We expect to make arrangements with third-party lenders for some partners to increase their personal liquidity by
enabling them to borrow up to a year&#146;s projected income during the first two years after the completion of the offering. These loans are intended solely for the purpose of increasing the personal liquidity of those partners for the period
immediately following the offering. We expect that loans will be made available at competitive rates and will be secured by all or a portion of the individual partner&#146;s restricted shares, which, as discussed under &#147;&#151;Non-Competition
Agreement,&#148; will also secure the partner&#146;s obligations under a non-competition agreement. The proceeds of any sale of shares will be applied first to reduce the outstanding loan balance. We expect that all loans will be repayable in full
upon the earlier of (1) that partner leaving us or (2) four years after the date of completion of the offering.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Partner Tax Costs</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have informed our partners that if a partner reports for tax purposes the reorganization transactions described in
this prospectus in a manner satisfactory to us, we will provide a legal defense to that partner if his or her reporting position is challenged by the relevant tax authority. In the event such a defense is unsuccessful, and the partner is then
subject to extraordinary financial disadvantage, we will review such circumstances for any individual partner and find an appropriate way to avoid severe financial damage to an individual partner.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Relationship with Andersen Worldwide and Arthur Andersen</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Arbitration Award and Separation</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until August 7, 2000, we had contractual relationships with Andersen Worldwide and Arthur Andersen under certain
agreements whereby we and our &#147;member firms,&#148; which are now our subsidiaries, on the one hand, and Arthur Andersen and its member firms, on the other hand, were two stand-alone business units linked through various member firm agreements
to Andersen Worldwide, a single coordinating entity. On December 17, 1997, the Accenture member firms requested binding arbitration of claims that Andersen Worldwide and the member firms of Arthur Andersen, among other things, had breached or failed
to perform material obligations owed to the Accenture member firms under the member firm agreements.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On August 7, 2000, the parties to the arbitration were notified that the tribunal appointed by the International Chamber
of Commerce in its final award, dated July 28, 2000, had ruled that Andersen Worldwide had breached its material obligations under the member firm agreements and that the
Accenture member firms were excused from any further obligations to Andersen Worldwide and Arthur Andersen as of August 7, 2000. Under the terms of the final award, Accenture, and each of the member firms comprising it, was required to cease using
the Andersen name or any derivative thereof, no later than December 31, 2000. On January 1, 2001, we began to conduct business under the name Accenture.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December 19, 2000, Andersen Worldwide and Arthur Andersen LLP, on behalf of themselves and all other Arthur Andersen
member firms, partners, shareholders and others, and Accenture Partners, S.C. and Accenture LLP, on behalf of themselves and all other Accenture member firms, partners, shareholders and others, executed a binding memorandum of understanding
agreement to settle and resolve all existing and potential disputes among the parties concerning the implementation of the final award and the separation of the Accenture member firms from Andersen Worldwide and Arthur Andersen, including the
discharge and release of all obligations of parties under the terminated member firm agreements between the Accenture member firms and Andersen Worldwide. The memorandum of understanding agreement provided for the parties to enter into a number of
definitive agreements with respect to services, subleases, releases and indemnities and to finalize other arrangements among the parties. It also contained provisions for specified uses by Accenture of its former name. On March 1, 2001, Accenture,
Andersen Worldwide and Arthur Andersen completed implementation of the memorandum of understanding agreement by executing releases and indemnities, finalizing other arrangements among the parties and entering into services agreements under
which:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Arthur Andersen will provide services, including tax services, to Accenture for six years for $60 million per
year.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Arthur Andersen will provide accommodations and related facility use services to Accenture at its training facility in St.
Charles, Illinois, for specified occupancy rates for five years for $60 million per year.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accenture will provide Arthur Andersen with consulting services at no cost to Arthur Andersen for five years up to $22.5
million per year at our published billing rate.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Tax Sharing Agreement</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During our association with Andersen Worldwide and Arthur Andersen, we agreed to allocate specified responsibilities and
obligations relating to the preparation and filing of tax returns, the payment of tax liabilities and the control and contest of administrative or legal proceedings relating to tax matters between our two groups. On March 1, 2001, in connection with
the separation from Andersen Worldwide and Arthur Andersen, Accenture has entered into a tax sharing agreement with Andersen Worldwide and Arthur Andersen which describes how any unresolved tax matters will be addressed following our separation from
those entities. In general, liability for specified additional taxes relating to joint business returns of Accenture and Andersen Worldwide and Arthur Andersen for taxable periods ending on or before the separation will be allocated between us and
Andersen Worldwide and Arthur Andersen as if we were not associated with one another at the time the taxes arose. Liability for all other taxes relating to taxable periods ending on or before the separation will be allocated to the party responsible
for preparing and filing the tax return with respect to those taxes. The contest of audits and administrative or court proceedings relating to these taxes will generally be controlled by the party responsible for filing the tax returns that are the
subject of the audit or proceeding.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx15"></A>
PRINCIPAL SHAREHOLDERS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below sets forth information regarding beneficial ownership of Accenture Ltd Class A common shares immediately
after our transition to a corporate structure but prior to the consummation of the offering, and as adjusted to reflect the sale of Accenture Ltd Class A common shares in the offering, held by:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">each holder who is known to us to be the beneficial owner of more than 5% of any class of Accenture Ltd outstanding common
shares;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">each director and named executive officer of Accenture Ltd; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="92%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">all directors and named executive officers of Accenture Ltd as a group.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Immediately prior to and following the offering, our partners will own an aggregate of 212,335,219 Accenture Ltd Class A
common shares and an aggregate of 514,124,449 Accenture Ltd Class X common shares. Two Dutch foundations, Stichting Naritaweg I and Stichting Naritaweg II, hold Accenture Ltd Class X common shares that would otherwise have been held by some of our
partners. These foundations will vote these shares in any vote of Accenture Ltd shareholders in accordance with the preliminary vote taken by our partners, and our partners will accordingly control the votes of these shares, although the foundations
will not participate in the preliminary vote. See &#147;Certain Relationships and Related Transactions&#151;Voting Agreement&#151;Voting.&#148; Stichting Naritaweg I holds 34,737,706, or 6%, and Stichting Naritaweg II holds 42,299,410, or 7%, of the
591,161,473 outstanding Accenture Ltd Class X common shares.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise indicated, the persons or entities listed below have sole voting and investment power with respect
to the shares beneficially owned by them. None of our partners is selling shares in the offering.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of the table below (1) we have assumed no exercise of the underwriters&#146; overallotment option and that
all Accenture SCA Class I common shares (other than those held by Accenture Ltd) and Accenture Canada Holdings exchangeable shares have been redeemed or exchanged for Accenture Ltd Class A common shares on a one-for-one basis and that all Class X
common shares have been redeemed by Accenture Ltd and canceled and (2) &#147;beneficial ownership&#148; is determined in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, pursuant to which a person or group of persons is deemed
to have &#147;beneficial ownership&#148; of any common shares that such person has the right to acquire within 60 days after the date of this prospectus. For purposes of computing the percentage of outstanding Accenture Ltd Class A common shares
held by each person or group of persons named above, any shares that such person or persons has the right to acquire within 60 days after the date of this prospectus are deemed to be outstanding but are not deemed to be outstanding for the purpose
of computing the percentage ownership of any other person.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="613" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Name</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Accenture Ltd
<BR>
Class A common
<BR>
shares beneficially owned</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Percent of Accenture Ltd
<BR>
Class A common shares
<BR>
before the offering</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Percent of
<BR>
Accenture Ltd Class A
<BR>
common shares
<BR>
after the offering</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Directors and named executive officers:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joe W. Forehand(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,406,889</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stephan A. James(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,187,063</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Karl-Heinz Fl&#246;ther(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">926,347</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joel P. Friedman(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">840,257</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;William D. Green(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,087,985</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Masakatsu Mori(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">892,495</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diego Visconti(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">945,581</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jackson L. Wilson, Jr.(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,187,063</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael G. McGrath(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,143,097</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">All directors and named executive officers
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;as a group (9 persons)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">9,616,777</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1.1</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1.0</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">(1)&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">c/o Accenture, 1661 Page Mill Road, Palo Alto, California 94304. Excludes any common shares subject to the voting agreement
referred to below that are owned by other parties to the voting agreement. While each of Joe W. Forehand, Stephan A. James, Karl-Heinz Fl&#246;ther, Joel P. Friedman, William D. Green, Masakatsu Mori, Diego Visconti, Jackson L. Wilson, Jr. and
Michael G. McGrath is a party to the voting agreement and the Accenture Ltd common shares beneficially owned by these persons are subject thereto, each disclaims beneficial ownership of the common shares subject to the voting agreement other than
those specified above for each such person individually. See &#147;Certain Relationships and Related Transactions&#151;Voting Agreement&#148; for a discussion of the voting agreement.</FONT></DIV>
</TD>
</TR>
</TABLE>



<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;*&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Less than 1% of Accenture Ltd Class A common shares outstanding.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx16"></A>
DESCRIPTION OF SHARE CAPITAL</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following summary is a description of the material terms of Accenture Ltd&#146;s share capital. We have filed
Accenture Ltd&#146;s memorandum of continuance and bye-laws as exhibits to the registration statement of which this prospectus is a part.</I></FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>General</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The authorized share capital of Accenture Ltd is $517,500 divided into:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20,000,000,000 Class A common shares, par value $0.0000225 per share;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,000,000,000 Class X common shares, par value $0.0000225 per share; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,000,000,000 preferred shares, par value $0.0000225 per share.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Common Shares</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Immediately following the consummation of the offering, assuming no exercise of the underwriters&#146; overallotment
option, Accenture Ltd will have 394,536,601 Class A common shares outstanding and 591,161,473 Class X common shares outstanding.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Voting</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders of Accenture Ltd&#146;s Class A common shares and Class X common shares are entitled to one vote per share held
of record on all matters submitted to a vote of shareholders at which they are present in person or by proxy.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Mandatory Redemption</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I></I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd may, at its option, redeem at any time any Class X common share for a redemption price equal to the
par value of the Class X common share. Accenture Ltd has agreed with each partner who holds Class X common shares, however, not to redeem any Class X common share of a holder if such redemption would reduce the number of Class X common shares held
by such holder to a number that is less than the number of Accenture SCA Class I common shares or Accenture Canada Holdings exchangeable shares held by that holder, as the case may be.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Dividends</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I></I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Class A common share is entitled to a pro rata part of any dividend at the times and in the amounts, if any,
which Accenture Ltd&#146;s board of directors from time to time determines to declare, subject to any preferred dividend rights attaching to any preferred shares. Class X common shares are not entitled to dividends.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Liquidation Rights</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I></I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Class A common share is entitled on a winding-up of Accenture Ltd to be paid a pro rata part of the value of
the assets of Accenture Ltd remaining after payment of its liabilities, subject to any preferred rights on liquidation attaching to any preferred shares. Class X common shares are not entitled to be paid any amount upon a winding-up of Accenture
Ltd.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Election of Directors</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I></I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The election of the directors of Accenture Ltd is determined by a majority of the votes cast at the general
meeting at which the directors are elected. Shareholders of Accenture Ltd do not have cumulative voting rights. Accordingly, the holders of a majority of the voting rights attaching to our common shares

will, as a practical matter, be entitled to control the election of all directors. After this offering, our partners will, assuming no exercise of the underwriters&#146; overallotment option, collectively control approximately 82% of such voting
rights and will therefore have the power to control the election of all of the Accenture Ltd directors.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our board of directors has the power to appoint directors to fill vacancies on the board and, if authorized by
resolution of the shareholders, to appoint additional directors.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We expect that our board of directors will adopt non-binding guidelines providing that our directors will not be allowed
to serve more than three consecutive terms, except for our Chief Executive Officer and up to two additional inside directors designated by our Chief Executive Officer.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Accenture Ltd&#146;s bye-laws, for so long as the shares subject to the voting agreement represent a majority of
Accenture Ltd&#146;s voting power, a director may be removed at the direction of the partners representatives. Once the shares subject to the voting agreement no longer represent a majority of Accenture Ltd&#146;s voting power, a director may be
removed at the request of not less than 75% of the other directors. Any vacancy created by the removal of a director may be filled by the board of directors.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Other Rights</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I></I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class X common shares will not be entitled to any dividend, liquidation or other rights.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>No Pre-emptive Rights</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I></I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders of common shares of Accenture Ltd have no pre-emptive rights.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Transfer</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;</I>&nbsp;&nbsp;&nbsp;&nbsp;Class A common shares are, subject to the restrictions and requirements described in this prospectus,
transferable by their holders. Class X common shares are transferable by their holders only with the consent of Accenture Ltd.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Preferred Shares</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd has created 2,000,000,000 authorized preferred shares, par value $0.0000225 per share, the rights and
preferences of which are currently undesignated. The board of directors of Accenture Ltd has the authority to issue the preferred shares in one or more series and to fix the rights, preferences, privileges and restrictions attaching to those shares,
including dividend rights, conversion rights, voting rights, redemption terms and prices, liquidation preferences and the numbers of shares constituting any series and the designation of any series, without further vote or action by the
shareholders.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any series of preferred shares could, as determined by our board of directors at the time of issuance, rank senior to
our common shares with respect to dividends, voting rights, redemption and liquidation rights. These preferred shares are of the type commonly known as &#147;blank-check&#148; preferred stock.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At present, Accenture Ltd has no plans to issue any preferred shares.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Bermuda Law</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd is an exempted company organized under the Companies Act 1981 of Bermuda. The rights of Accenture
Ltd&#146;s shareholders, including those persons who will become shareholders in connection with this offering, are governed by Bermuda law and our memorandum of continuance and bye-laws. The Companies Act 1981 of Bermuda differs in some material
respects from laws generally applicable to United States corporations and their shareholders. The following is a summary of the material provisions of Bermuda law and Accenture Ltd&#146;s organizational documents.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <I><B>Dividends</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;</I>&nbsp;&nbsp;&nbsp;&nbsp;Under Bermuda law, a company may pay dividends that are declared from time to time by its board of directors
unless there are reasonable grounds for believing that the company is or would, after payment, be unable to pay its liabilities as they become due or that the realizable value of its assets would as a result be less than the aggregate of its
liabilities and issued share capital and share premium accounts.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Voting Rights</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;</I>&nbsp;&nbsp;&nbsp;&nbsp;Under Bermuda law, except as otherwise provided in the Companies Act 1981 of Bermuda or Accenture Ltd&#146;s
bye-laws, questions brought before a general meeting of shareholders are decided by a majority vote of shareholders present in person or by proxy at the meeting. Accenture Ltd&#146;s bye-laws provide that, subject to the provisions of the Companies
Act 1981 of Bermuda, any question proposed for the consideration of the shareholders will be decided by a simple majority of the votes cast (except in the case of amendments to certain provisions of the bye-laws of Accenture Ltd such as those
relating to amalgamations, discontinuances, asset sales and the appointment and resignation of directors, where an 80% majority may be required if such amendments are not approved by the board of directors). A description of the voting rights
attaching to Accenture Ltd Class A common shares and Class X common shares is set out above.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Rights in Liquidation</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;</I>&nbsp;&nbsp;&nbsp;&nbsp;Under Bermuda law, in the event of a liquidation or winding-up of a company, after satisfaction in full of all
claims and creditors and subject to the preferential rights accorded to any series of preference shares and subject to any specific provisions of the company&#146;s bye-laws, the proceeds of the liquidation or winding-up are distributed pro rata
among the holders of common shares. A description of the specific liquidation rights attaching to Accenture Ltd Class A common shares and Class X common shares is set out above.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Meetings of Shareholders</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;</I>&nbsp;&nbsp;&nbsp;&nbsp;Under Bermuda law, a company is required to convene at least one shareholders&#146; meeting each calendar year.
Bermuda law provides that a special general meeting may be called by the board of directors and must be called upon the request of shareholders holding not less than 10% of the paid-up share capital of the company carrying the right to vote. Bermuda
law also requires that shareholders be given at least five days&#146; advance notice of a general meeting, but the accidental omission to give notice to any person does not invalidate the proceedings at a meeting. Under Accenture Ltd&#146;s
bye-laws, we must give each shareholder at least 30 days&#146; notice of the annual general meeting and at least 10 days&#146; notice of any special general meeting.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Bermuda law, the number of shareholders constituting a quorum at any general meeting of shareholders is determined
by the bye-laws of a company. Accenture Ltd&#146;s bye-laws provide that the presence in person or by proxy of two or more shareholders entitled to attend and vote and holding shares representing more than 50% of the voting power constitutes a
quorum (except in certain exceptional cases where a greater number is required).</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Access to Books and Records and Dissemination of Information</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I>Members of the general public have the right to inspect the public documents of a company available at the office
of the Registrar of Companies in Bermuda. These documents include a company&#146;s certificate of incorporation or continuance, its memorandum of association or continuance, including its objects and powers, and any alteration to its memorandum of
association or continuance. The shareholders have the additional right to inspect the bye-laws of the company, minutes of general meetings and the company&#146;s audited financial statements. The register of shareholders of a company is also open to
inspection by


shareholders without charge and by members of the general public on the payment of a fee. A company is required to maintain its share register in Bermuda but may, subject to the provisions of Bermuda law, establish a branch register outside Bermuda.
Accenture Ltd maintains its principal share register in Hamilton, Bermuda. A company is required to keep at its registered office a register of its directors and officers which is open for inspection for not less than two hours each day by members
of the public without charge. Bermuda law does not, however, provide a general right for shareholders to inspect or obtain copies of any other corporate records.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Board Actions</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;</I>&nbsp;&nbsp;&nbsp;&nbsp;Under Bermuda law, the directors of a Bermuda company owe their fiduciary duty principally to the company rather
than the shareholders. Accenture Ltd&#146;s bye-laws provide that certain actions are required to be approved by our board of directors. Actions must be approved by a majority of the votes present and entitled to be cast at a properly convened
meeting of Accenture Ltd&#146;s board of directors.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd&#146;s bye-laws provide that a director of Accenture Ltd may (but is not required to) in taking any action
(including an action that may involve or relate to a change of control or potential change of control of Accenture Ltd) consider, among other things, the effects that the action may have on other interests or persons (including Accenture Ltd&#146;s
shareholders, our partners, retired partners and employees and the communities in which we do business) as long as the director acts honestly and in good faith with a view to the best interests of Accenture Ltd.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Amendment of Memorandum of Continuance and Bye-laws</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;</I>&nbsp;&nbsp;&nbsp;&nbsp;Bermuda law provides that the memorandum of association or continuance of a company may be amended by a
resolution passed at a general meeting of shareholders of which due notice has been given. An amendment to the memorandum of association or continuance, other than an amendment that alters or reduces a company&#146;s share capital, also requires the
approval of the Bermuda Minister of Finance, who may grant or withhold approval at his or her discretion. Accenture Ltd&#146;s bye-laws may be amended by its board of directors if the amendment is approved by shareholders by a resolution passed by
the holders of a majority of the votes cast (except in limited instances, where the bye-law amendment has not been approved by the board of directors and where the approval of a resolution in favor of which the holders of not less than 80% of the
voting power have voted).</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Bermuda law, the holders of an aggregate of no less than 20% in par value of a company&#146;s issued share capital
or any class of issued share capital have the right to apply to the Bermuda Court for an annulment of any amendment of the memorandum of association or continuance adopted by shareholders at any general meeting, other than an amendment that alters
or reduces a company&#146;s share capital. Where such an application is made, the amendment becomes effective only to the extent that it is confirmed by the Bermuda Court. An application for the annulment of an amendment of the memorandum of
association or continuance must be made within 21 days after the date on which the resolution altering the company&#146;s memorandum is passed and may be made on behalf of the persons entitled to make the application by one or more of their number
as they may appoint in writing for the purpose. No such application may be made by persons voting in favor of the amendment.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I><B>Appraisal Rights and Shareholder Suits</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><I>&nbsp;&nbsp;&nbsp;&nbsp;</I>&nbsp;&nbsp;&nbsp;&nbsp;Under Bermuda law, in the event of an amalgamation of a Bermuda company with another company, a shareholder who
is not satisfied that fair value has been paid for his or her shares in the Bermuda company may apply to the Bermuda Court to appraise the fair value of his or her shares. Under Bermuda law and Accenture Ltd&#146;s bye-laws, the amalgamation of
Accenture Ltd with another company requires the amalgamation agreement to be approved by Accenture Ltd&#146;s board of directors and by resolution of the shareholders of Accenture Ltd.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class actions and derivative actions are generally not available to shareholders under Bermuda law. The Bermuda Court,
however, would ordinarily be expected to permit a shareholder to commence an action in the name of a company to remedy a wrong done to the company where the act complained of is alleged to be beyond the corporate power of the company or is illegal
or would result in violation of the company&#146;s memorandum of association or continuance or bye-laws. Further consideration would be given by the Bermuda Court to acts that are alleged to constitute a fraud against the minority shareholders or,
for instance, where an act requires the approval of a greater percentage of the company&#146;s shareholders than that which actually approved it.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When the affairs of a company are being conducted in a manner oppressive or prejudicial to the interests of some part of
the shareholders, one or more shareholders may apply to the Bermuda Court for an order regulating the company&#146;s conduct of affairs in the future or compelling the purchase of the shares of any shareholder, by other shareholders or by the
company.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Transfer Agent and Registrar</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equiserve Trust Company, N.A. will serve as transfer agent and branch registrar for the Class A common shares in the
United States. Reid Management Ltd will serve as transfer agent and principal registrar for the Class A common shares in Bermuda.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx17"></A>
SHARES ELIGIBLE FOR FUTURE SALE</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the offering, there has been no public market for the Class A common shares. Although the Class A common shares
have been approved for listing on the New York Stock Exchange, we cannot assure you that there will be an active public market for the Class A common shares. Sales of substantial amounts of Accenture Ltd Class A common shares, or the perception of
these sales, may adversely affect the price of the Class A common shares and impede our ability to raise capital through the issuance of equity securities in the future. Upon the completion of the offering, assuming no exercise of the
underwriters&#146; overallotment option, Accenture Ltd will have approximately 394,536,601 Class A common shares outstanding, including 67,201,382 Class A common shares underlying restricted share units that are fully vested or scheduled to fully
vest prior to the end of the current fiscal year. Our partners will also hold Accenture SCA Class I common shares and Accenture Canada Holdings exchangeable shares, which may be redeemed or exchanged for Class A common shares on a one-for-one basis.
Of the outstanding number of Class A common shares, 115,000,000 Class A common shares to be sold in the offering will be freely tradable without restriction or further registration under the Securities Act of 1933. In addition:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="1%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">212,335,219 Class A common shares held by our partners will be subject to the transfer restrictions described under
&#147;Certain Relationships and Related Transactions&#151;Voting Agreement&#148; and, unless these restrictions are waived, will be subject to the underwriters&#146; lock-up described under &#147;Underwriting&#148; and will be eligible for resale
pursuant to Rule 144 under the Securities Act after one year as described below.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="1%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">587,302,062 Class A common shares issuable upon redemption or exchange of Accenture SCA Class I common shares and 8,160,742
Class A common shares issuable upon exchange of Accenture Canada Holdings exchangeable shares held by our partners will be subject to the transfer restrictions described under &#147;Certain Relationships and Related Transactions&#151;Accenture SCA
Transfer Rights Agreement&#148; and &#147;&#151;Voting Agreement&#148; and, unless these restrictions are waived, will be subject to the underwriters&#146; lock-up described under &#147;Underwriting&#148; and will be eligible for resale pursuant to
Rule 144 under the Securities Act one year after redemption or exchange as described below.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="1%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The Class A common shares held by our partners and the Class A common shares that may be received by our partners in exchange
for their Accenture SCA Class I common shares or Accenture Canada Holdings exchangeable shares will be &#147;restricted&#148; securities within the meaning of Rule 144. These restricted securities may not be sold in the absence of registration under
the Securities Act unless an exemption from registration is available, including the exemption contained in Rule 144. We currently expect that we will file a registration statement with the Securities and Exchange Commission in order to register the
issuance of Accenture Ltd Class A common shares delivered upon the redemption or exchange of these shares or to register the reoffer and resale of these shares if they are not transferable to the public in accordance with Rule 144 and to the extent
they are not subject to the transfer restrictions described under &#147;Certain Relationships and Related Transactions&#151;Voting Agreement&#151;Transfer Restrictions&#148; or the Underwriters&#146; lock-up described under &#147;Underwriting.&#148;
As a result, these shares will be freely transferable to the public unless the shares are acquired by an &#147;affiliate&#148; of Accenture Ltd. Any share acquired by an &#147;affiliate&#148; of Accenture Ltd will be transferable to the public in
accordance with Rule 144.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="1%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="95%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">73,896,473 Class A common shares underlying restricted share units generally will be deliverable as follows:</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="323" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Number of Shares</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Months
<BR>
After Offering</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;9,642,579</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">17,500,000</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">11,363,097</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">24</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19,885,440</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">36</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;2,385,440</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">48</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;2,385,440</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">60</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;2,385,440</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">72</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;2,385,439</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">84</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;5,963,598</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">96</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> </FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;Of the 98,995,000 Class A common shares subject to options described under &#147;Management&#151;Employee Awards,&#148;
14,470,000 will become exercisable in five equal annual installments beginning one year after the date of grant and 84,525,000 will become exercisable in four equal annual installments beginning one year after the date of grant.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Up to 3,000,000 Class A common shares acquired by some of our former partners in the offering will be subject to the Transfer
restrictions described under &#147;Underwriting&#148; and otherwise will be freely tradable without restriction or further registration under the Securities Act.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except with the prior written consent of Goldman, Sachs &amp; Co. and Morgan Stanley &amp; Co. Incorporated, Accenture
Ltd and its partners have agreed not to dispose of any of their common shares or securities convertible into or exchangeable for Class A common shares during the period from the date of this prospectus continuing through the date 180 days after the
date of this prospectus, subject to specified exceptions, including an exception that permits Accenture Ltd to issue a number of shares equal to 10% of the Class A common shares to be outstanding immediately following the offering (assuming our
partners&#146; holdings of Accenture SCA Class I common shares and Accenture Canada Holdings exchangeable shares are redeemed or exchanged for newly issued Class A common shares on a one-for-one basis) in connection with acquisitions provided that
the recipients of those shares agree to be bound by the lock-up agreement for the duration of the 180 days.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent not otherwise freely tradable or able to be sold under an exemption contained in Rule 144, we currently
expect that we will file a registration statement with the Securities and Exchange Commission in order to register the reoffer and resale of the Class A common shares issued pursuant to the restricted share units and options to purchase Class A
common shares described under &#147;Management &#151;Employee Awards.&#148; As a result, any Class A common shares delivered under these awards will, subject to applicable contractual restrictions, be freely transferable to the public unless the
Class A common shares are acquired by an &#147;affiliate&#148; of Accenture Ltd. Any Class A common shares acquired by an &#147;affiliate&#148; of Accenture Ltd will be transferable to the public in accordance with Rule 144.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In general, under Rule 144 as currently in effect, a person (or persons whose shares are aggregated together), including
an affiliate, who has beneficially owned restricted shares for at least one year is entitled to sell, within any three-month period, a number of these shares that does not exceed the greater of:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">one percent of the then outstanding Class A common shares (approximately 3,945,366 shares immediately after the offering);
or</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the average weekly trading volume in Class A common shares on the New York Stock Exchange during the four calendar weeks
preceding the date on which notice of this sale is filed, provided that requirements concerning availability of public information, manner of sale and notice of sale are satisfied.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, affiliates must comply with the restrictions and requirements of Rule 144, other than the one-year holding
period requirement, in order to sell Class A common shares that are not restricted securities within the meaning of that rule. Under Rule 144(k), a person who is not an affiliate and has not been an affiliate for at least three months prior to the
sale and who has beneficially owned restricted shares for at least two years may resell these shares without compliance with the foregoing requirements.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The ability of our board of directors to grant registration rights to our partners, together with the ability of the
partners representatives under the voting agreement to waive the transfer restrictions thereunder, could, if exercised, permit these partners to sell significant amounts of Class A common shares at any time following the 180-day period after the
offering. See &#147;Risk Factors&#151;Risks That Relate to Your Ownership of Our Class A Common Shares&#151;Our share price may decline due to the large number of shares eligible for future sale.&#148;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx18"></A>
CERTAIN INCOME TAX CONSEQUENCES</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Taxation of Accenture Ltd</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under current Bermuda law, we are not subject to tax in Bermuda on our income or capital gains. Furthermore, we have
obtained from the Minister of Finance of Bermuda, under the Exempted Undertakings Tax Protection Act 1966, an undertaking that, in the event that Bermuda enacts any legislation imposing tax computed on any income or gains, that tax will not be
applicable to us until March 28, 2016. This undertaking does not, however, prevent the imposition of any tax or duty on persons ordinarily resident in Bermuda or any property tax on leasehold interests we may have in Bermuda. We will pay an annual
government fee in Bermuda based on our authorized share capital and share premium. The maximum annual government fee applicable to us is currently $27,825, and we expect to be subject to the maximum fee.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Taxation of Holders</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>Bermuda Tax Considerations</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under current Bermuda law, no income, withholding or other taxes or stamp or other duties are imposed in Bermuda upon
the issue, transfer or sale of our common shares or on any payments in respect of our common shares (except, in certain circumstances, to persons ordinarily resident in Bermuda). See &#147;Taxation of Accenture Ltd&#148; above for a description of
the undertaking on taxes obtained by us from the Minister of Finance of Bermuda.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>United States Federal Income Tax Considerations</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the material United States federal income tax consequences, as of the date of this
document, of the ownership of our Class A common shares by beneficial owners who purchase the Class A common shares in connection with their initial issuance, that hold the Class A common shares as capital assets and that are United States persons
under the Internal Revenue Code of 1986, as amended. Under the Internal Revenue Code, you are a United States person if you are:</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a citizen or resident of the United States;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a corporation or partnership created or organized in or under the laws of the United States or any political subdivision
thereof;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">an estate, the income of which is subject to United States federal income taxation regardless of its source; or</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a trust that is subject to the supervision of a court within the United States and the control of one or more United States
persons or that has a valid election in effect under applicable United States Treasury regulations to be treated as a United States person.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This summary is based upon current laws and regulations and relevant interpretations of these laws and regulations, all
of which are subject to change, possibly with retroactive effect, and is for general purposes only. We cannot assure you that a later change in law will not significantly alter the tax considerations that we describe in this summary. We have not
requested a ruling from the Internal Revenue Service with respect to any of the United States federal income tax consequences of the transaction. As a result, there can be no assurance that the Internal Revenue Service will not disagree with or
challenge any of the conclusions described below.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This summary does not represent a detailed description of the United States federal income tax consequences to you in
light of your particular circumstances and prospective investors should consult their own tax advisors as to the tax consequences of an investment in our Class A common shares, including the application to their particular situations of the tax
considerations discussed below and the
application of state, local, foreign or other federal tax laws. In addition, it does not present a description of the United States federal income tax consequences applicable to you if you are subject to special treatment under the United States
federal income tax laws, including if you are:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a dealer in securities or currencies;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a trader in securities if you elect to use a mark-to-market method of accounting for your securities holdings;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a financial institution;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">an insurance company;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a tax-exempt organization;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a person liable for alternative minimum tax;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a person holding Class A common shares as part of a hedging, integrated or conversion transaction, constructive sale or
straddle;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a person owning, actually or constructively, 10% or more of our voting stock or 10% or more of the voting stock of any of our
non-United States subsidiaries; or</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="7%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="91%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">a person whose functional currency is not the United States dollar.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a partnership holds our Class A common shares, the tax treatment of a partner will generally depend upon the status
of the partner and the activities of the partnership. If you are a partner of a partnership holding our Class A common shares, you should consult your tax advisor.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should consult your own tax advisor concerning the particular United States federal income tax consequences to you
of the ownership and disposition of the Class A common shares, as well as the consequences to you arising under the laws of any other taxing jurisdiction.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Taxation of Dividends</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The gross amount of distributions you receive on your Class A common shares will generally be treated as dividend income
to you if the distributions are made from our current and accumulated earnings and profits, calculated according to United States federal income tax principles. Such income will be includible in your gross income as ordinary income on the day you
actually or constructively receive it. You will not be entitled to claim a dividends received deduction, generally allowed to United States corporations in respect of dividends received from other United States corporations, with respect to
distributions you receive from us. To the extent that the amount of any distribution exceeds our current and accumulated earnings and profits for a taxable year, the distribution will first be treated as a tax-free return of capital, causing a
reduction in your adjusted basis in the Class A common shares, thereby increasing the amount of gain, or decreasing the amount of loss, you will recognize on a subsequent disposition of the shares, and the balance in excess of your adjusted basis
will be taxed as capital gain recognized on a sale or exchange.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, for United States federal income tax purposes, we are classified as a United States-owned foreign corporation,
distributions made to you with respect to your Class A common shares that are taxable as dividends generally will be treated for United States foreign tax credit purposes as:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">foreign source passive income or, in the case of some holders, foreign source financial services income; and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">United States source income,</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> in proportion to our earnings and profits in the year of such distribution allocable to foreign and United States sources, respectively. For this purpose, we will be
treated as a United States-owned foreign corporation so long as stock representing 50% or more of the voting power or value of our shares is owned, directly or indirectly, by United States persons.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Foreign Personal Holding Company</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A foreign corporation will be classified as a foreign personal holding company if:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">at any time during the corporation&#146;s taxable year, five or fewer individuals who are United States citizens or residents
own, directly or indirectly (or by virtue of certain ownership attribution rules), more than 50% of the corporation&#146;s stock by either voting power or value (we refer to this as the &#147;shareholder test&#148;); and</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#159;</FONT><FONT SIZE="2" COLOR="#000000"
FACE="'Times New Roman', Times"></FONT></DIV>
</TD>
<TD WIDTH="94%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">the corporation receives at least 60% of its gross income, or 50% after the initial year of qualification, as adjusted, for
the taxable year from certain passive sources (we refer to this as the &#147;income test&#148;).</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If we or one of our non-United States subsidiaries were classified as a foreign personal holding company, you and some
indirect holders would be required, regardless of your percentage ownership, to include in income as a dividend, your pro rata share of our (or our relevant non-United States subsidiary&#146;s) undistributed foreign personal holding company income
if you were a holder on the last day of our taxable year or, if earlier, the last day on which we satisfied the shareholder test. Foreign personal holding company income is generally equal to taxable income with certain adjustments. In addition, if
we were classified as a foreign personal holding company, shareholders who acquired our shares from decedents would not receive a &#147;stepped-up&#148; basis in that stock. Instead, these shareholders would have a tax basis equal to the lower of
the fair market value of the shares or the decedent&#146;s basis.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because of the application of complex ownership attribution rules, we are likely to meet the shareholder test in a given
year. To the extent we have gross income, we are also likely to satisfy the income test and be treated as a foreign personal holding company. However, even if we are classified as a foreign personal holding company, subject to the discussion of our
non-United States subsidiaries below, we do not anticipate having any material amounts of undistributed foreign personal holding company income because we do not expect to have any material amounts of net taxable income. In the unlikely event we
have net taxable income, we intend to distribute it to you so as to avoid having taxable income imputed to you under these rules.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, because of the application of complex ownership attribution rules, our non-United States subsidiaries are
likely to meet the shareholder test in a given year. It is also possible that one or more of our non-United States subsidiaries will meet the income test in a given year and be treated as a foreign personal holding company. If any of our non-United
States subsidiaries is a foreign personal holding company, then any undistributed foreign personal holding company income of that subsidiary may be deemed paid to us as a dividend, with the result that you could be required to include currently your
ratable share of such deemed dividend as undistributed foreign personal holding company income. In addition, your tax basis in the shares of the foreign personal holding company would be increased by the amount of the income inclusion. However, we
intend to manage the affairs of our non-United States subsidiaries so as to attempt to avoid or minimize having income imputed to you under these rules, to the extent this is consistent with our business goals, although there can be no assurance in
this regard.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depending on a variety of factors, it is possible that we and/or any of our non-United States subsidiaries that are
foreign personal holding companies may cease to be classified as foreign personal holding companies in the future, although there can be no assurance in this regard.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I></B></I><B><I>Disposition of the Class A Common Shares</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When you sell or otherwise dispose of your Class A common shares you will recognize capital gain or loss in an amount
equal to the difference between the amount you realize for the shares and your adjusted tax basis in them. Subject to any basis adjustments described in &#147;&#151;Foreign Personal Holding Company,&#148; your adjusted tax basis in the Class A
common shares will generally be your cost of obtaining the shares reduced by any previous distributions that are not characterized as dividends. For foreign tax credit limitation purposes, this gain or loss will generally be treated as United States
source. If you are an individual and the Class A common shares being sold or otherwise disposed of have been held by you for more than one year, your gain recognized will be taxed at a maximum tax rate of 20%. Your ability to deduct capital losses
is subject to limitations.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Information Reporting and Backup Withholding</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In general, unless you are an exempt recipient such as a corporation, information reporting will apply to dividends in
respect of the Class A common shares or the proceeds received on the sale, exchange or redemption of those Class A common shares paid to you within the United States and, in some cases, outside of the United States. Additionally, if you fail to
provide your taxpayer identification number, or fail either to report in full dividend and interest income or to make certain certifications, you will be subject to backup withholding. Any amounts withheld under the backup withholding rules will be
allowed as a refund or a credit against your United States federal income tax liability, provided that you furnish the required information to the United States Internal Revenue Service.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx19"></A>
UNDERWRITING</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd and the underwriters for the U.S. offering (the &#147;U.S. underwriters&#148;) named below have entered
into an underwriting agreement with respect to the shares being offered in the United States. With specific conditions, each U.S. underwriter has severally agreed to purchase the number of shares indicated in the following table. Goldman, Sachs
&amp; Co. and Morgan Stanley &amp; Co. Incorporated are the joint book-running managers of the offering. They, together with Credit Suisse First Boston Corporation, Deutsche Banc Alex. Brown Inc., J.P. Morgan Securities Inc., Salomon Smith Barney
Inc., Banc of America Securities LLC, Lehman Brothers Inc., Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, UBS Warburg LLC and ABN AMRO Rothschild LLC, are the representatives of the U.S. underwriters.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="561" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>U.S. underwriters</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Number of Shares</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Goldman, Sachs &amp; Co.</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Morgan Stanley &amp; Co. Incorporated</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Credit Suisse First Boston Corporation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Deutsche Banc Alex. Brown Inc.&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">J.P. Morgan Securities Inc.&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Salomon Smith Barney Inc.&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Banc of America Securities LLC</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Lehman Brothers Inc.&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Merrill Lynch, Pierce, Fenner &amp; Smith</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporated</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">UBS Warburg LLC</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">ABN AMRO Rothschild LLC</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the U.S. underwriters sell more shares than the total number set forth in the table above, the U.S. underwriters have
an option to buy up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares from Accenture Ltd to cover such sales. They may exercise that option for 30 days. If any shares are purchased pursuant to this option, the U.S.
underwriters will severally purchase shares in approximately the same proportion as set forth in the table above.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd will sell the shares to the U.S. underwriters at a per share price of $&nbsp;&nbsp;&nbsp;&nbsp;, which
represents a fixed percentage discount from the initial public offering price set forth on the cover page of this prospectus. This discount is the U.S. underwriters&#146; compensation.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table shows the per share and total underwriting discounts and commissions to be paid to the U.S.
underwriters by Accenture Ltd. Such amounts are shown assuming both no exercise and full exercise of the U.S. underwriters&#146; option to purchase additional shares.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="561" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=3 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Paid by Accenture Ltd (1)</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>No Exercise</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Full Exercise</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Per Share</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">In addition, Accenture Ltd will reimburse the U.S. underwriters for $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; for
Blue Sky fees and expenses.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares sold by the U.S. underwriters to the public will initially be offered at the initial public offering price set
forth on the cover of this prospectus. Any shares sold by the U.S. underwriters to securities dealers may be sold at a discount of up to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share from the initial public
offering price. Any such securities dealers may resell any shares purchased from the U.S. underwriters to certain other brokers or dealers at a discount of up to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share
from the initial public offering price. If all the shares are not sold at the initial public offering price, the representatives may change the offering price and the other selling terms.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd has entered into an underwriting agreement with the international underwriters (the &#147;International
underwriters,&#148; and, together with the U.S. underwriters, the &#147;Underwriters&#148;) for the sale of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares outside of the United States in addition to the &nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares offered in the United States. The terms and conditions of both offerings are the same and the sales of shares in both offerings are conditioned on each other. Goldman Sachs International and Morgan
Stanley &amp; Co. International Limited are the joint book-running managers of the international offering. They, together with Credit Suisse First Boston (Europe) Limited, Deutsche Banc Alex. Brown Inc., J.P. Morgan Securities Inc., Salomon Smith
Barney Inc., Banc of America Securities Limited, Lehman Brothers Inc., Merrill Lynch International, UBS AG, acting through its business group UBS Warburg and ABN AMRO Rothschild, are the representatives of the International underwriters for the
international offering outside of the United States. Accenture Ltd has granted the International underwriters a similar option to purchase up to an aggregate of an additional &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A prospectus in electronic format may be made available on the Web sites maintained by one or more of the joint
book-running managers of the offering and may also be made available on Web sites maintained by other Underwriters. The Underwriters may agree to allocate a number of shares to Underwriters for sale to their online brokerage account holders.
Internet distributions will be allocated by the joint book-running managers to Underwriters that may make Internet distributions on the same basis as other allocations.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except with the prior written consent of Goldman, Sachs &amp; Co. and Morgan Stanley &amp; Co. Incorporated, Accenture
Ltd and its partners have agreed not to dispose of or hedge any of their common shares or securities convertible into or exchangeable for Class A common shares during the period from the date of this prospectus continuing through the date 180 days
after the date of this prospectus, subject to specified exceptions, including an exception that permits Accenture Ltd to issue a number of shares equal to 10% of the Class A common shares to be outstanding immediately following the offering
(assuming our partners&#146; holdings of Accenture SCA Class I common shares and Accenture Canada Holdings exchangeable shares are redeemed or exchanged for newly issued Class A common shares on a one-for-one basis) in connection with acquisitions
provided that the recipients of those shares agree to be bound by the lock-up agreement for the duration of the 180 days. See &#147;Shares Eligible for Future Sale&#148; for a discussion of certain transfer restrictions.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the offering, there has been no public market for the shares. The initial public offering price will be
negotiated among Accenture Ltd and Goldman, Sachs &amp; Co. and Morgan Stanley &amp; Co. Incorporated. Among the factors to be considered in determining the initial public offering price of the shares, in addition to prevailing market conditions,
will be Accenture Ltd&#146;s historical performance, estimates of the business potential and earnings prospects of Accenture Ltd, an assessment of Accenture Ltd&#146;s management and the consideration of the above factors in relation to market
valuation of companies in related businesses.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Class A common shares will be listed on the New York Stock Exchange under the symbol &#145;&#145;ACN.&#148; In order
to meet one of the requirements for listing the Class A common shares on the New York Stock Exchange, the Underwriters have undertaken to sell lots of 100 or more shares to a minimum of 2,000 beneficial holders.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the offering, the Underwriters may purchase and sell Class A common shares in the open market. These
transactions may include short sales, stabilizing transactions and purchases to cover positions created by short sales. Short sales involve the sale by the Underwriters of a greater number of shares than they are required to purchase in the
offering. &#147;Covered&#148; short sales are sales made in an amount not greater than the Underwriters&#146; option to purchase additional shares from Accenture Ltd in the offering. The Underwriters may close out any covered short position by
either exercising their option to purchase additional shares or purchasing shares in the open market. In determining the source of shares to close out the covered short position, the Underwriters will consider, among other things, the price of
shares available for purchase in the open market as compared to the price at which they may purchase shares through the overallotment option. &#147;Naked&#148; short sales are any sales in excess of such option. The Underwriters must close out any
naked short position by purchasing shares in the open market. A naked short position is more likely to be created if the Underwriters are concerned that there may be downward pressure on the price of the Class A common shares in the open market
after pricing that could adversely affect investors who purchase in the offering. Stabilizing transactions consist of various bids for or purchases of Class A common shares made by the Underwriters in the open market prior to the completion of the
offering.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriters may also impose a penalty bid. This occurs when a particular underwriter repays to the Underwriters a
portion of the underwriting discount received by it because the representatives have repurchased shares sold by or for the account of such underwriter in stabilizing or short covering transactions.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases to cover a short position and stabilizing transactions may have the effect of preventing or retarding a
decline in the market price of Accenture Ltd&#146;s Class A common shares, and together with the imposition of the penalty bid, may stabilize, maintain or otherwise affect the market price of the Class A common shares. As a result, the price of the
Class A common shares may be higher than the price that otherwise might exist in the open market. If these activities are commenced, they may be discontinued at any time. These transactions may be effected on New York Stock Exchange, in the
over-the-counter market or otherwise.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriters do not expect sales to discretionary accounts to exceed 5% of the total number of shares
offered.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriters have reserved for sale, at the initial public offering price, approximately 3,000,000 Class A common
shares offered hereby for retired partners designated by Accenture who have expressed an interest in purchasing such Class A common shares in the offering. The number of shares available for sale to the general public will be reduced to the extent
such persons purchase such reserved shares. Any reserved shares not so purchased will be offered by the Underwriters to the general public on the same basis as the other shares offered hereby. We intend to require these retired partners to agree not
to transfer these Class A common shares for a period of six months following the offering.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd estimates that its share of the total expenses of the offering, excluding underwriting discounts and
commissions, will be approximately $18 million, which includes filing, registration and listing fees as well as legal and accounting fees and expenses and printing costs.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd and Accenture SCA have agreed to indemnify the several Underwriters against specific liabilities,
including liabilities under the Securities Act of 1933.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>[Alternate Page For International Prospectus]</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#240;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>UNDERWRITING</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd and the underwriters for the international offering (the &#147;International underwriters&#148;) named
below have entered into an underwriting agreement with respect to the shares being offered outside the United States. With specific conditions, each International underwriter has severally agreed to purchase the number of shares indicated in the
following table. Goldman Sachs International and Morgan Stanley &amp; Co. International Limited are the joint book-running managers of the international offering. They, together with Credit Suisse First Boston (Europe) Limited, Deutsche Banc Alex.
Brown Inc., J.P. Morgan Securities Inc., Salomon Smith Barney Inc., Banc of America Securities Limited, Lehman Brothers Inc., Merrill Lynch International, UBS AG, acting through its business group UBS Warburg and ABN AMRO Rothschild, are the
representatives of the International underwriters.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="501" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>International underwriters</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Number of Shares</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Goldman Sachs International</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Morgan Stanley &amp; Co. International Limited</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Credit Suisse First Boston (Europe) Limited</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Deutsche Banc Alex. Brown Inc.&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">J.P. Morgan Securities Inc.&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Salomon Smith Barney Inc.&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Banc of America Securities Limited</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Lehman Brothers Inc.&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Merrill Lynch International</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">UBS AG, acting through its business group UBS Warburg</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">ABN AMRO Rothschild</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the International underwriters sell more shares than the total number set forth in the table above, the International
underwriters have an option to buy up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares from Accenture Ltd to cover such sales. They may exercise that option for 30 days. If any shares are purchased
pursuant to this option, the International underwriters will severally purchase shares in approximately the same proportion as set forth in the table above.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd will sell the shares to the International underwriters at a per share price of $&nbsp;&nbsp;&nbsp;&nbsp;,
which represents a fixed percentage discount from the initial public offering price set forth on the cover page of this prospectus. This discount is the International underwriters&#146; compensation.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table shows the per share and total underwriting discounts and commissions to be paid to the International
underwriters by Accenture Ltd. Such amounts are shown assuming both no exercise and full exercise of the International underwriters&#146; option to purchase additional shares.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=3 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Paid by Accenture Ltd</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>No Exercise</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Full Exercise</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Per Share</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares sold by the International underwriters to the public will initially be offered at the initial public offering
price set forth on the cover of this prospectus. Any shares sold by the International underwriters to securities dealers may be sold at a discount of up to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share from the
initial public offering price. Any such securities dealers may resell any shares purchased from the International underwriters to certain other brokers or dealers at a discount of up to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp; per share from the initial public offering price. If all the shares are not sold at the initial offering price, the representatives may change the offering price and the other selling terms.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Wingdings">&#240;</FONT><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>[Alternate Page For International Prospectus]</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd has entered into an underwriting agreement with the underwriters for the U.S. offering (the &#147;U.S.
underwriters,&#148; and, together with the International underwriters, the &#147;Underwriters&#148;) for the sale of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares in the United States in addition to the &nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares offered outside of the United States. The terms and conditions of both offerings are the same and the sale of shares in both offerings are conditioned on each other. Goldman,
Sachs &amp; Co. and Morgan Stanley &amp; Co. Incorporated are the joint book-running managers of the U.S. offering. They, together with Credit Suisse First Boston Corporation, Deutsche Banc Alex. Brown Inc., J.P. Morgan Securities Inc., Salomon
Smith Barney Inc., Banc of America Securities LLC, Lehman Brothers Inc., Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, UBS Warburg LLC and ABN AMRO Rothschild LLC, are the representatives of the U.S. underwriters. Accenture Ltd has granted
the U.S. underwriters a similar option to purchase up to an aggregate of an additional &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A prospectus in electronic format may be made available on the Web sites maintained by one or more of the joint
book-running managers of the offering and may also be made available on Web sites maintained by other Underwriters. The Underwriters may agree to allocate a number of shares to Underwriters for sale to their online brokerage account holders.
Internet distributions will be allocated by the joint book-running managers to Underwriters that may make Internet distributions on the same basis as other allocations.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except with the prior written consent of Goldman, Sachs &amp; Co. and Morgan Stanley &amp; Co. Incorporated, Accenture
Ltd and its partners have agreed with the Underwriters not to dispose of or hedge any of their common shares or securities convertible into or exchangeable for Class A common shares during the period from the date of this prospectus continuing
through the date 180 days after the date of this prospectus, subject to specified exceptions, including an exception that permits Accenture Ltd to issue a number of shares equal to 10% of the Class A common shares to be outstanding immediately
following the offering (assuming our partners&#146; holdings of Accenture SCA Class I common shares and Accenture Canada Holdings exchangeable shares are redeemed or exchanged for newly issued Class A common shares on a one-for-one basis) in
connection with acquisitions provided that the recipients of those shares agree to be bound by the lock-up agreement for the duration of the 180 days. See &#147;Shares Eligible for Future Sale&#148; for a discussion of certain transfer
restrictions.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the offerings, there has been no public market for the shares. The initial public offering price will be
negotiated among Accenture Ltd and Goldman, Sachs &amp; Co. and Morgan Stanley &amp; Co. Incorporated. Among the factors to be considered in determining the initial public offering price of the shares, in addition to prevailing market conditions,
will be Accenture Ltd&#146;s historical performance, estimates of the business potential and earnings prospects of Accenture Ltd, an assessment of Accenture Ltd&#146;s management and the consideration of the above factors in relation to market
valuation of companies in related businesses.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Class A common shares will be listed on the New York Stock Exchange under the symbol &#147;ACN.&#148; In order to
meet one of the requirements for listing the Class A common shares on the New York Stock Exchange, the Underwriters have undertaken to sell lots of 100 or more shares to a minimum of 2,000 beneficial holders.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the offering, the Underwriters may purchase and sell Class A common shares in the open market. These
transactions may include short sales, stabilizing transactions and purchases to cover positions created by short sales. Shorts sales involve the sale by the Underwriters of a greater number of shares than they are required to purchase in the
offering. &#147;Covered&#148; short sales are sales made in an amount not greater than the Underwriters&#146; option to purchase additional shares from Accenture Ltd in the offering. The Underwriters may close out any covered short position by
either exercising their option to purchase additional shares or purchasing shares in the open market. In determining the source of shares to close out the covered short position, the Underwriters will consider, among other things, the price of
shares available for purchase in the open market as compared to the price at which they may purchase shares through the overallotment option. &#147;Naked&#148; short sales are any sales in excess of such option. The Underwriters must close out any
naked short position by purchasing shares in the open market. A naked short position is more likely to be created if the Underwriters are concerned that there
may be downward pressure on the price of the Class A common shares in the open market after pricing that could adversely affect investors who purchase in the offering. Stabilizing transactions consist of various bids for or purchases of Class A
common shares made by the Underwriters in the open market prior to the completion of the offering.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriters may also impose a penalty bid. This occurs when a particular underwriter repays to the Underwriters a
portion of the underwriting discount received by it because the representatives have repurchased shares sold by or for the account of such underwriter in stabilizing or short covering transactions.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases to cover a short position and stabilizing transactions may have the effect of preventing or retarding a
decline in the market price of Accenture Ltd&#146;s Class A common shares, and together with the imposition of the penalty bid, may stabilize, maintain or otherwise affect the market price of the Class A common shares. As a result, the price of the
Class A common shares may be higher than the price that otherwise might exist in the open market. If these activities are commenced, they may be discontinued at any time. These transactions may be effected on the New York Stock Exchange, in the
over-the-counter market or otherwise.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Underwriter has also represented and agreed that (i) it has not offered or sold and, prior to the date six months
after the date of issue of the Class A common shares, will not offer or sell any Class A common shares to persons in the United Kingdom, except to persons whose ordinary activities involve them in acquiring, holding, managing or disposing of
investments (as principal or agent) for the purposes of their businesses or otherwise in circumstances that have not resulted and will not result in an offer to the public in the United Kingdom within the meaning of the Public Offers of Securities
Regulations 1995; (ii) it has complied, and will comply with, all applicable provisions of the Financial Services Act 1986 of Great Britain with respect to anything done by it in relation to the Class A common shares in, from or otherwise involving
the United Kingdom; and (iii) it has only issued or passed on and will only issue or pass on in the United Kingdom any document received by it in connection with the issuance of the Class A common shares to a person who is of a kind described in
Article 11(3) of the Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1996 (as amended) of Great Britain or is a person to whom the document may otherwise lawfully be issued or passed on.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Class A common shares may not be offered, sold, transferred or delivered in or from The Netherlands, as part of
their initial distribution or as part of any re-offering, and neither this prospectus nor any other document in respect of the offering may be distributed or circulated into The Netherlands, other than to individuals or legal entities which include,
but are not limited to, banks, brokers, dealers, institutional investors and undertakings with a treasury department, who or which trade or invest in securities in the conduct of a business or profession.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriters do not expect sales to discretionary accounts to exceed 5% of the total number of shares
offered.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriters have reserved for sale, at the initial public offering price, approximately 3,000,000 Class A common
shares offered hereby for retired partners designated by Accenture who have expressed an interest in purchasing such Class A common shares in the offering. The number of shares available for sale to the general public will be reduced to the extent
such persons purchase such reserved shares. Any reserved shares not so purchased will be offered by the Underwriters to the general public on the same basis as the other shares offered hereby. We intend to require these retired partners to agree not
to transfer these Class A common shares for a period of six months following the offering.<B></B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd estimates that its share of the total expenses of the offering, excluding underwriting discounts and
commissions, will be approximately $18 million, which includes filing, registration and listing fees as well as legal and accounting fees and expenses and printing costs.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Ltd and Accenture SCA have agreed to indemnify the several Underwriters against specific liabilities,
including liabilities under the Securities Act of 1933.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468tx20"></A>
LEGAL MATTERS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appleby Spurling &amp; Kempe, Bermuda, will pass upon the validity of the issuance of the Class A common shares offered
by this prospectus. Mello Jones &amp; Martin, Bermuda, will pass upon the validity of the issuance of the Class A common shares for the underwriters. Certain legal matters will be passed upon for us by Simpson Thacher &amp; Bartlett as to matters of
United States and New York law. The underwriters are being represented as to United States legal matters by Latham &amp; Watkins.</FONT></DIV>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<A NAME="468tx21"></A>
EXPERTS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The combined financial statements as of August 31, 1999 and 2000 and for each of the three years in the period ended
August 31, 2000 included in this prospectus have been so included in reliance on the report of PricewaterhouseCoopers LLP, independent accountants, given on authority of said firm as experts in auditing and accounting.</FONT></DIV>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<A NAME="468tx22"></A>
WHERE YOU CAN FIND MORE INFORMATION</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have filed with the Securities and Exchange Commission a registration statement on Form S-1 under the Securities Act
about the securities we offer under this prospectus. This prospectus is materially complete, but does not contain all of the information included in the registration statement and the exhibits and schedules to the registration statement. For further
information with respect to us and the Class A common shares, please refer to the registration statement, including its exhibits and schedules, which you may inspect and obtain copies at prescribed rates at the public reference facilities of the
Securities and Exchange Commission at the addresses provided below.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a result of the effectiveness of the registration statement under the Securities Act, we are subject to the
informational reporting requirements of the Securities Exchange Act of 1934, and, under that Act, we file reports, proxy statements and other information with the Securities and Exchange Commission. You may inspect those reports, proxy statements
and other information and the registration statement and its exhibits and schedules, without charge, and you may make copies of them at prescribed rates at the public reference facilities of the Securities and Exchange Commission&#146;s principal
office at 450 Fifth Street, N.W., Washington, D.C. 20549 and at the Securities and Exchange Commission&#146;s regional offices at 500 West Madison Street, Suite 1400, Chicago, Illinois 60661 and 7 World Trade Center, Suite 1300, New York, New York
10048. The public may obtain information on the operation of the Securities and Exchange Commission&#146;s public reference facilities by calling the Securities and Exchange Commission in the United States at 1-800-SEC-0330. The Securities and
Exchange Commission also maintains a Web site at http://www.sec.gov that contains reports, proxy and information statements and other information regarding registrants that file electronically with the Securities and Exchange Commission.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin1"></A>
INDEX TO FINANCIAL STATEMENTS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="558" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin111">Combine</A>
d Balance Sheets as of August 31, 2000 and February 28, 2001 (unaudited)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-2</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin2">Combined Income Statements Before Partner Distributions for the six months ended</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468fin2">February 29, 2000 and February 28, 2001 </A>
(unaudited)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-3</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin3">Combined Statement of Partners&#146; Capital and Comprehensive Income (Loss) for the six months</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468fin3">ended February 28, 2001</A>
(unaudited)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-4</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin4">Combined Statements of Cash Flows for the six months ended February 29, 2000 and</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468fin4">February 28, 2001</A>
(unaudited)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-5</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin5">Notes to Combined Financial Statements</A>
(unaudited)</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-6</FONT></TD>
</TR>
<TR>
<TD COLSPAN=3 VALIGN="bottom" ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin6">Report of Independent Accountants</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-11</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin7">Combined Balance Sheets as of August 31, 1999 and 2000</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-12</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin8">Combined Income Statements Before Partner Distributions for the years ended August 31, 1998,</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468fin8">1999 and 2000</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-13</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin9">Combined Statements of Partners&#146; Capital and Comprehensive Income for the years ended</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468fin9">August 31, 1998, 1999 and 2000</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-14</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin10">Combined Statements of Cash Flows for the years ended August 31, 1998, 1999 and 2000</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-15</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">
<A HREF="#468fin11">Notes to Combined Financial Statements</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">F-16</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin111"></A>
ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>COMBINED BALANCE SHEETS</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>August 31, 2000 and February 28, 2001</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="613" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>August 31,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Unaudited)</B></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ASSETS</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">CURRENT ASSETS:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,270,516</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,342,406</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">395,620</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20,081</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivables from clients</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,450,555</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,629,284</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unbilled services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">682,935</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">799,447</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due from related parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">28,122</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">28,122</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">171,537</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">261,072</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current
assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,999,285</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4,080,412</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">NON-CURRENT ASSETS:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due from related parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">81,220</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">81,220</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">509,665</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">405,578</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">705,508</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">758,547</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">155,619</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">148,536</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
non-current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,452,012</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,393,881</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>TOTAL
ASSETS</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$5,451,297</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$5,474,293</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>LIABILITIES AND PARTNERS&#146; CAPITAL</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">CURRENT LIABILITIES:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term bank borrowings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;164,765</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;213,307</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29,921</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29,921</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">169,648</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">185,888</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to related parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">339,877</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">299,641</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenues</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">948,390</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">998,107</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued payroll and related benefits</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">700,843</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">928,741</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes payable</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">332,821</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">305,286</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other accrued liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">297,714</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">259,044</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current
liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,983,979</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,219,935</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">NON-CURRENT LIABILITIES:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">98,865</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">97,481</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">208,606</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
non-current liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">98,865</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">306,087</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">COMMITMENTS AND CONTINGENCIES</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">PARTNERS&#146; CAPITAL:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paid-in capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">403,483</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">523,785</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Undistributed earnings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,347,905</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,480,514</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">617,065</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(56,028</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
partners&#146; capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,368,453</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,948,271</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>TOTAL
LIABILITIES AND PARTNERS&#146; CAPITAL</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$5,451,297</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$5,474,293</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The accompanying notes are an integral part of these financial statements.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin2"></A>
ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>COMBINED INCOME STATEMENTS BEFORE PARTNER DISTRIBUTIONS</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>For the Six Months Ended February 29, 2000 and February 28, 2001</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Unaudited)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six Months Ended</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 29,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">REVENUES:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$4,684,564</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$5,712,996</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">799,511</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">909,355</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;Revenues</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5,484,075</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6,622,351</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">OPERATING EXPENSES:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services*:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services before reimbursable
expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,659,891</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,943,074</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursable expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">799,511</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">909,355</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,459,402</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,852,429</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">421,528</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">452,978</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">639,622</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">765,337</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reorganization and rebranding costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">189,506</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
operating expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4,520,552</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5,260,250</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">OPERATING INCOME*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">963,523</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,362,101</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Gain on investments, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">267,976</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">189,159</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">27,604</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">42,395</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest expense</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(12,379</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(10,110</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Other income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19,518</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">23,513</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Equity in losses of affiliates</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(7,206</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(41,661</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">INCOME BEFORE TAXES*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,259,036</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,565,397</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">113,605</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">135,391</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">INCOME BEFORE ACCOUNTING CHANGE*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,145,431</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,430,006</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Cumulative effect of accounting change</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">187,974</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">PARTNERSHIP INCOME BEFORE PARTNER DISTRIBUTIONS*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,145,431</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,617,980</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></DIV>
</TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Excludes payments for partner distributions.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The accompanying notes are an integral part of these financial statements.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin3"></A>
ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>COMBINED STATEMENT OF PARTNERS&#146; CAPITAL</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>AND COMPREHENSIVE INCOME (LOSS)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>For the Six Months Ended February 28, 2001</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Unaudited)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="612" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Paid-in
<BR>
Capital</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Undistributed
<BR>
Earnings</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Accumulated
<BR>
Other
<BR>
Comprehensive
<BR>
Income (Loss)</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Total</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Balance at August 31, 2000</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$403,483</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,347,905</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$617,065</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,368,453</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Comprehensive income</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership income before partner
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;distributions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,617,980</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,617,980</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income (loss)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized
losses on marketable
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;securities, net of reclassification
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adjustment</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(660,281</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(660,281</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign
currency translation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(12,812</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(12,812</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income (loss)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(673,093</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Comprehensive income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">944,887</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Capital paid in by partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">131,309</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">131,309</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Repayment of paid-in capital to partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(11,007</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(11,007</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Distribution of partners&#146; income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,228,687</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,228,687</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Distribution to AW-SC</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(256,684</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(256,684</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Balance at February 28, 2001</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$523,785</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,480,514</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(56,028</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,948,271</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The accompanying notes are an integral part of these financial statements.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin4"></A>
ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>COMBINED STATEMENTS OF CASH FLOWS</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>For the Six Months Ended February 29, 2000 and February 28, 2001</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Unaudited)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months ended</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 29,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>CASH FLOWS FROM OPERATING ACTIVITIES:</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership income before partner distributions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,145,431</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,617,980</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile partnership income for the six months to net cash
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided by operating activities &#151;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">117,249</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">119,975</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">65,667</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on investments, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(267,976</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(189,159</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in losses of affiliates</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7,206</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">41,661</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;eUnit charge</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">89,044</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Losses on disposal of property and equipment</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8,210</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7,337</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other items, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(11,315</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(44,216</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumulative effect of accounting change</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(187,974</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in assets and liabilities &#151;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) in receivables from clients</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(35,074</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(178,729</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) in unbilled services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(135,176</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(116,512</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in due from related
parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20,640</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(5,420</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in other current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">42,161</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">16,798</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in other non-current
assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,222</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(5,268</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in accounts payable</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(9,177</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">16,240</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in deferred revenue</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(10,849</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">49,717</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in accrued payroll and related
benefits</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">112,181</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">196,947</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Decrease) in taxes payable</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,352</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(27,535</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in other accrued
liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">27,649</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(73,657</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
adjustments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(133,401</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(225,084</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by
operating activities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,012,030</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,392,896</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>CASH FLOWS FROM INVESTING ACTIVITIES:</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">268,893</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">356,588</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(36,291</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(145,204</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment additions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(148,957</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(180,351</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by
investing activities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">83,645</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">31,033</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>CASH FLOWS FROM FINANCING ACTIVITIES:</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital paid in by partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21,539</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">131,309</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayment of paid-in capital to<B> </B>partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(14,775</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(11,007</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distribution of partners&#146; income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(1,043,999</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,228,687</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment to AW-SC</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(278,000</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment to escrow</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(229,776</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments of long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,384</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of short-term bank borrowings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">241,696</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">261,781</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments of short-term bank borrowings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(134,729</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(213,239</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing
activities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,160,044</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,339,227</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effect of exchange rate changes on cash and cash equivalents</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(28,363</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(12,812</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(92,732</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">71,890</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>CASH AND CASH EQUIVALENTS, </B>beginning of period</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,110,592</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,270,516</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>CASH AND CASH EQUIVALENTS, </B>end of period</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,017,860</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,342,406</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The accompanying notes are an integral part of these financial statements.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin5"></A>
ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<A NAME="468"></A>
NOTES TO COMBINED FINANCIAL STATEMENTS</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Unaudited)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>1</B><B>.&nbsp;&nbsp;&nbsp;&nbsp;BASIS OF PRESENTATION</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying unaudited combined financial statements have been prepared by Accenture pursuant to the rules and
regulations of the Securities and Exchange Commission regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements
and should be read in conjunction with Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations and the audited financial statements and related notes thereto included in this Form S-1. The accompanying unaudited
combined financial statements reflect all adjustments, as well as the accounting change to adopt Statement of Financial Accounting Standards No. 133<I>, </I>&#147;Accounting for Derivative Instruments and Hedging Activities&#148;, (&#147;SFAS
133&#148;) which are, in the opinion of management, necessary for a fair presentation of results for the interim periods presented. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are
reported in the combined financial statements and accompanying disclosures. Although these estimates are based on management&#146;s best knowledge of current events and actions that Accenture may undertake in the future, actual results may be
different from the estimates. The results of operations for the six-month period ended February 28, 2001 are not necessarily indicative of the results to be expected for any future period or the full fiscal year.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;ACCOUNTING CHANGE</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective September 1, 2000, Accenture adopted SFAS 133, which establishes accounting and reporting standards for
derivative instruments, including certain derivative instruments embedded in other contracts and for hedging activities. All derivatives, whether designated in hedging relationships or not, are required to be recorded on the Combined Balance Sheet
at fair value. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are recognized in Partnership Income Before Partner Distributions. If the
derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in Accumulated other comprehensive income (loss) and are recognized in the Combined Income Statement Before Partner
Distributions when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges are recognized in Partnership Income Before Partner Distributions. The adoption of SFAS 133 resulted in an increase to
Partnership Income Before Partner Distributions of $187,974. For the six months ended February 28, 2001, Gain on investments, net includes $126,820 of unrealized investment losses recognized in accordance with SFAS 133.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a strategic investment, Accenture acquires warrants to purchase securities of other companies. Warrants that can be
net share settled are deemed derivative financial instruments and are not designated as hedging instruments. Accenture uses derivative instruments to manage exposures to foreign currency, securities price and interest rate risks. Accenture&#146;s
objectives for holding derivatives are to minimize the risks using the most effective methods to eliminate or reduce the impacts of these exposures. During the six months ended February 28, 2001, Accenture has not designated any of its derivatives
as hedges under the definition of SFAS 133.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Unaudited)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>3.&nbsp;&nbsp;&nbsp;&nbsp;COMPREHENSIVE INCOME (LOSS)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The components of Accumulated other comprehensive income (loss) at August 31, 2000 and February 28, 2001
are:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>August 31,
<BR>
2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>February 28,
<BR>
2001</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Foreign currency translation adjustments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;(75,101</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;(87,913</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Unrealized gains on securities:</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized holding gains</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;1,287,344</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">557,167</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: reclassification adjustment for gains realized in Partnership Income Before</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partner Distributions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(595,178</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(525,282</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized gains</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">692,166</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">31,885</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accumulated other comprehensive income (loss)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;617,065</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;(56,028</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;INVESTMENTS</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the six months ended February 28, 2001, Accenture recorded other than temporary impairment writedowns of $41,068,
of which $10,282 was reclassified from Other comprehensive income to Gain on investments, net and $30,786 was directly expensed to Gain on investments, net.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;PARTNERS&#146; CAPITAL</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective September 1, 2000, 1,286 employees were admitted as partners of Accenture, which approximately doubled the
number of partners. This increased number of partner admissions was designed to incentivize Accenture&#146;s professionals at an earlier stage in their careers. As a result, the financial statements for the six months ended February 28, 2001, do not
reflect compensation expense for these 1,286 additional partners, as compared to the six months ended February 29, 2000.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;eUNIT BONUS PLAN</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective September 1, 2000, Accenture implemented a deferred bonus plan (the &#147;eUnit Bonus Plan&#148;) for
employees based on tenure and performance. The plan provides for a loyalty award, which vests immediately, and a performance award, which vests over a period of three years. On September 1, 2000, Accenture granted eUnits in two pools. In the first
pool, vesting of the performance awards is accelerated, such that 40% vest immediately, 35% will vest on September 1, 2001 and 25% will vest on September 1, 2002. The performance awards under the second pool will vest 25% twelve months after the
award date, 35% twenty-four months after the award date and 40% thirty-six months after the award date.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;eUnits are granted with an initial value of $1 each corresponding to $1 of value on the grant date of specified public
and private equity investments or cash to be invested by Accenture in technology and software companies. None of these investments or cash balances is pledged as security or restricted in any way. Amounts are charged or credited to each
participant&#146;s account based on changes in the value of



the specified investments. Amounts will be paid to eUnit holders at the end of each fiscal year for the portion of their eUnits that have vested, to the extent that the underlying investments have been liquidated, subject to the terms of the eUnit
Bonus Plan. Investments are liquidated at the sole discretion of Accenture. Fluctuations in the value of the investments with respect to each particular pool will result in corresponding changes to the ultimate liability payable to employees. eUnit
holders have no direct or indirect ownership interest in the underlying investments which were recorded in Investments on the Combined Balance Sheet.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the six months ended February 28, 2001, 179 million eUnits were granted, of which 59 million eUnits had vested at
February 28, 2001. eUnits outstanding were valued at $1.00 to $1.05 at February 28, 2001, for a total value of $183,500, corresponding to the value of the specified investments and cash. At February 28, 2001, the estimated value of the vested eUnits
is $89,044, which was also recognized as compensation expense during the six months ended February 28, 2001. The current portion of the eUnit liability is $30,951 and is recorded in Accrued payroll and related benefits; the non-current portion of
the eUnit liability is $58,093 and is recorded in Other non-current liabilities.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;MEMORANDUM OF UNDERSTANDING</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December 19, 2000, Andersen Worldwide Soci&#233;t&#233; Coop&#233;rative (&#147;AW-SC&#148;), Arthur Andersen LLP and
the other Arthur Andersen Member Firms (collectively hereinafter &#147;AA&#148;), Accenture Partners Soci&#233;t&#233; Coop&#233;rative (&#147;APSC&#148;), Accenture LLP (formerly Andersen Consulting LLP) and the Accenture Member Firms, on their own
behalves and on behalf of their respective partners, shareholders, other principals and affiliates, voluntarily executed a binding Memorandum of Understanding (&#147;MOU&#148;) to implement the award of the arbitrator in the ICC arbitration
described in Note 10 of the Accenture Combined Financial Statements for the year ended August 31, 2000 and the separation of the Accenture Member Firms from AW-SC and AA.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The MOU provided for the release to AA of $512,324 previously placed in escrow, plus accumulated interest, and for
payments to AA of $556,000, including the reciprocal guarantee for 2000 of $313,832 referred to in Note 9 of the Accenture Combined Financial Statements for the year ended August 31, 2000, the purchase by APSC of intangible assets for $157,000 and a
payment to AA of $85,000, including settlement of all interfirm payables. In addition, pursuant to the MOU, Accenture and AA entered into (1) a six-year services agreement under which AA will provide certain services to Accenture for payments to AA
of $60,000 per year, (2) a five-year agreement under which AA will provide certain training facilities to Accenture for payments to AA of $60,000 per year, and (3) a five-year agreement under which Accenture will provide $22,500 per year of certain
services at no cost to AA. Each agreement was effective as of January 1, 2001.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture recorded all elements of the MOU at fair value, and recorded the excess of our contractual obligations over
fair value as a reduction of undistributed earnings because the related transactions were entered into in connection with the separation of the Accenture member firms from AW-SC and AA.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a result, Accenture recorded intangible assets totaling $157,000 which are being amortized over periods ranging from
three to six months. The intangible assets relate to the forebearance by Andersen Worldwide and Arthur Andersen to use, and the limited use by Accenture of, the Andersen Consulting



name or variations of that name and related domain names. During the six months ended February 28, 2001, Reorganization and rebranding costs include $65,667 of amortization for these intangible assets.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, Accenture recorded an accrual of $185,500 equal to the excess of the contractual obligations under the
service agreements referred to above over the fair value of the services to be provided thereunder and recorded a reduction of undistributed earnings of $256,684 for the accrual for the services contracts and other cash payments.</FONT></DIV>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments due under the five-year and six-year services agreements will be based upon rates established by AA that
Accenture has determined will exceed the rates that they charge for similar services to unrelated parties (the fair value of those services). The excess of the present value of the amounts payable to AA over the fair value of those services has been
recorded as a liability and a distribution to partners as of December 2000. Accenture is obligated to provide to AA up to $22.5 million per year of services valued at then current retail billing rates for five years. The present value of the fair
value of these services determined by reference to the fees usually received for such services has been recorded as a liability and as a distribution to partners as of December 2000. These liabilities which aggregated $185,500 are reported as
distributions to partners because the liabilities were incurred in connection with Accenture&#146;s separation from AA.</FONT></DIV>

<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;CHANGE OF NAME</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the terms of the Final Award, Accenture (and each of the entities comprising it) was required to cease using the
Andersen name or any derivative thereof, no later than December 31, 2000. On January 1, 2001, Accenture began to conduct business under the name &#147;Accenture&#148;, a coined word that connotes putting an accent or emphasis on the future, just as
the firm focuses on helping its clients create their future.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;SEGMENT REPORTING</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating segments are defined as components of an enterprise about which separate financial information is available
that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture&#146;s chief operating decision maker is the Managing Partner and Chief Executive Officer. The operating
segments are managed separately because each operating segment represents a strategic business unit that serves different markets. The reportable operating segments are the five global market units, which are Communications &amp; High Tech,
Financial Services, Government, Products and Resources.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(Unaudited)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>Reportable Segments</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="610" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months ended
<BR>
February 29, 2000</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B></B><B>Comm. &amp;
<BR>
High Tech</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Financial
<BR>
Services</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Government</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Products</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Resources</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Other (1)</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Total</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Revenues before
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,308,941</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,232,437</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$387,791</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;904,660</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$822,387</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$28,348</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$4,684,564</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Operating income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">282,855</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">295,176</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">34,353</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">183,533</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">115,192</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">52,414</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">963,523</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
<TR>
<TD COLSPAN=15 VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="3" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Six months ended
<BR>
February 28, 2001</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B></B><B>Comm. &amp;
<BR>
High Tech</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Financial
<BR>
Services</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Government</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Products</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Resources</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Other (1)</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Total</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Revenues before
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,666,796</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,464,702</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$450,897</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,128,864</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$953,843</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$47,894</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$5,712,996</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Operating income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">394,141</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">429,277</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">40,116</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">256,899</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">193,215</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">48,453</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,362,101</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Other includes Accenture&#146;s consolidated affiliate companies and operations which are not related to a global market
unit. Also included is an interest credit of $40,366 and $56,386 for the six months ended February 29, 2000 and February 28, 2001, respectively, to offset interest expense charged directly to the operating segments in arriving at Operating
income.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin6"></A>
REPORT OF INDEPENDENT ACCOUNTANTS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">To the Board of Partners and Partners of Accenture:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In our opinion, the accompanying combined balance sheets and the related combined income statements before partner
distributions, statements of partners&#146; capital and comprehensive income and statements of cash flows present fairly, in all material respects, the financial position of Accenture (formerly Andersen Consulting) at August 31, 1999 and 2000, and
the results of its operations and its cash flows for each of the three years in the period ended August 31, 2000 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the
responsibility of Accenture&#146;s management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the
United States of America, which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable
basis for our opinion.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">PricewaterhouseCoopers LLP</FONT></DIV>
<DIV><FONT SIZE="3">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">January 31, 2001</FONT></DIV>

<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Chicago, Illinois</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin7"></A>
ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>COMBINED BALANCE SHEETS</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>August 31, 1999 and 2000</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="613" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ASSETS</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">CURRENT ASSETS:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,110,592</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,270,516</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">126,390</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">395,620</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivables from clients</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,238,688</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,450,555</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unbilled services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">497,978</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">682,935</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due from related parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">49,536</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">28,122</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">169,715</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">171,537</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current
assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,192,899</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,999,285</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">NON-CURRENT ASSETS:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Escrow deposits</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">293,648</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due from related parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">109,342</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">81,220</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">176,344</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">509,665</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">658,717</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">705,508</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">184,087</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">155,619</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
non-current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,422,138</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,452,012</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>TOTAL
ASSETS</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$4,615,037</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$5,451,297</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>LIABILITIES AND PARTNERS&#146; CAPITAL</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">CURRENT LIABILITIES:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term bank borrowings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;127,022</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;164,765</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29,727</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29,921</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">219,554</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">169,648</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to related parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">339,877</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">821,782</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">948,390</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued payroll and related benefits</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">700,504</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">700,843</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes payable</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">236,914</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">332,821</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other accrued liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">143,999</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">297,714</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current
liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,279,502</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,983,979</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">LONG-TERM DEBT</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">127,402</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">98,865</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">COMMITMENTS AND CONTINGENCIES</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">PARTNERS&#146; CAPITAL:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paid-in capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">351,505</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">403,483</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Undistributed earnings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,603,486</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,347,905</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">253,142</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">617,065</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
partners&#146; capital</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,208,133</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,368,453</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>TOTAL
LIABILITIES AND PARTNERS&#146; CAPITAL</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$4,615,037</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$5,451,297</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The accompanying notes are an integral part of these financial statements.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin8"></A>
ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>COMBINED INCOME STATEMENTS BEFORE PARTNER DISTRIBUTIONS</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>For the Years Ended August 31, 1998, 1999 and 2000</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="613" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">REVENUES:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues before reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$8,214,767</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;9,549,856</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;9,752,085</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,424,946</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,529,543</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,787,865</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;Revenues</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">9,639,713</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;11,079,399</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;11,539,950</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">OPERATING EXPENSES:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of services*:</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"></FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of
services before reimbursable
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4,700,197</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5,456,559</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5,486,292</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursable
expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,424,946</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,529,543</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,787,865</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of
services*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6,125,143</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6,986,102</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7,274,157</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">696,000</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">790,246</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">883,276</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,035,450</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,271,357</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,296,398</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
operating expenses*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7,856,593</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">9,047,705</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">9,453,831</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">OPERATING INCOME*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,783,120</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,031,694</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,086,119</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Gain on investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">92,542</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">573,220</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">60,039</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">67,244</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest expense</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(16,844</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(27,200</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(24,071</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Other income (expense)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(5,633</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(5,309</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">51,042</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Equity in losses of affiliates</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,400</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(6,472</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(46,853</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">INCOME BEFORE TAXES*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,759,243</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,145,294</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,706,701</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Provision for taxes</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">73,924</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">122,640</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">242,807</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">PARTNERSHIP INCOME BEFORE PARTNER
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DISTRIBUTIONS*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,685,319</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;2,022,654</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;2,463,894</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></DIV>
</TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Excludes payments for partner distributions.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The accompanying notes are an integral part of these financial statements.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin9"></A>
ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>COMBINED STATEMENTS OF PARTNERS&#146; CAPITAL AND COMPREHENSIVE INCOME</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>For the Years Ended August 31, 1998, 1999 and 2000</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="612" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Paid-in
<BR>
Capital</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Undistributed
<BR>
Earnings</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Accumulated
<BR>
Other
<BR>
Comprehensive
<BR>
Income</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Total</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Balance at August 31, 1997</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$220,200</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;570,127</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(29,617</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;760,710</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Comprehensive income</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership income before partner
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;distributions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,685,319</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,685,319</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized gains on
marketable securities,
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;net of reclassification adjustment</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">98,275</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">98,275</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency
translation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18,551</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18,551</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">116,826</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Comprehensive income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,802,145</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Capital paid in by partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">65,158</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">65,158</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Repayment of paid-in capital to partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(9,333</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(9,333</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Distribution of partners&#146; income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,112,069</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,112,069</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Balance at August 31, 1998</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">276,025</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,143,377</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">87,209</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,506,611</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Comprehensive income</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership income before partner
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;distributions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,022,654</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,022,654</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized gains on
marketable securities,
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;net of reclassification adjustment</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">185,881</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">185,881</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency
translation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(19,948</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(19,948</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">165,933</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Comprehensive income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,188,587</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Capital paid in by partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">93,211</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">93,211</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Repayment of paid-in capital to partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(17,731</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(17,731</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Distribution of partners&#146; income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,562,545</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,562,545</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Balance at August 31, 1999</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">351,505</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,603,486</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">253,142</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,208,133</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Comprehensive income</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership income before partner
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;distributions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,463,894</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,463,894</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized gains on
marketable securities,
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;net of reclassification adjustment</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">408,998</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">408,998</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency
translation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(45,075</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(45,075</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">363,923</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Comprehensive income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,827,817</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Capital paid in by partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">99,895</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">99,895</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Repayment of paid-in capital to partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(47,917</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(47,917</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Distribution of partners&#146; income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,893,319</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,893,319</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Distribution to AW-SC</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(826,156</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(826,156</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Balance at August 31, 2000</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$403,483</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,347,905</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$617,065</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,368,453</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The accompanying notes are an integral part of these financial statements.</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin10"></A>
ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>COMBINED STATEMENTS OF CASH FLOWS</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>For the Years Ended August 31, 1998, 1999 and 2000</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="613" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">CASH FLOWS FROM OPERATING ACTIVITIES:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Partnership income before partner distributions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,685,319</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,022,654</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$2,463,894</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjustments to reconcile partnership income for the year to net
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;cash provided by operating activities&#151;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Depreciation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">172,698</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">217,032</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">237,078</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Gain on investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(92,542</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(573,220</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Equity in losses of affiliates</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,400</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6,472</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">46,853</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Loss on disposal of property and equipment</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">31,557</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Other items, net</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(2,661</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(4,473</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(30,749</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Change in assets and liabilities&#151;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) in receivables from clients</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(230,136</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(60,913</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(211,867</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) in unbilled services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(90,061</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(108,898</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(184,957</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in due from related parties</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(115,556</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(38,718</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">47,459</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in other current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(35,377</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">32,744</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,822</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in other non-current assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(25,443</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(23,736</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">28,468</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in accounts payable</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">85,934</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">23,412</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(49,906</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in deferred revenue</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">304,268</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19,997</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">67,415</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in accrued payroll and related benefits</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">133,746</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">124,783</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">339</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in taxes payable</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(6,083</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">21,019</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">95,907</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in other accrued liabilities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">25,943</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">55,514</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">164,815</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
adjustments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">218,672</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">171,693</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(332,630</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by
operating activities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,903,991</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,194,347</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,131,264</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">CASH FLOWS FROM INVESTING ACTIVITIES:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Proceeds from sales of investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">93,496</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">575,806</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Purchases of investments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,824</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(18,446</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(153,050</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Property and equipment additions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(271,387</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(305,156</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(315,426</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash (used in)
provided by investing activities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(273,211</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(230,106</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">107,330</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">CASH FLOWS FROM FINANCING ACTIVITIES:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Capital paid in by partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">65,158</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">93,211</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">99,895</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Repayment of paid-in capital to partners</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(9,333</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(17,731</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(47,917</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Distribution of partners&#146; income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,112,069</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,562,545</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,893,319</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Payments to escrow</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(195,000</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(87,548</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(229,776</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Proceeds from issuance of long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,384</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Repayments of long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,421</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,427</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,605</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Proceeds from issuance of short-term bank borrowings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">61,824</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">93,872</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">283,747</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Repayments of short-term bank borrowings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(47,582</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(87,907</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(246,004</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing
activities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(1,238,423</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(1,570,075</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(2,033,595</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Effect of exchange rate changes on cash and cash equivalents</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18,551</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(19,948</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(45,075</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">NET INCREASE IN CASH AND CASH EQUIVALENTS</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">410,908</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">374,218</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">159,924</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">CASH AND CASH EQUIVALENTS, beginning of year</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">325,466</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">736,374</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,110,592</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">CASH AND CASH EQUIVALENTS, end of year</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;736,374</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,110,592</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,270,516</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">SUPPLEMENTAL CASH FLOW INFORMATION</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Cash paid during the year for:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,434</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26,757</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23,727</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">88,426</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">97,853</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">144,410</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">The accompanying notes are an integral part of these financial statements.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>
<A NAME="468fin11"></A>
ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Description of Business</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Accenture Worldwide Organization (&#147;Accenture&#148;) is the world&#146;s leading provider of management and
technology consulting services and solutions. Accenture has more than 70,000 employees in 110 offices in 46 countries who deliver a wide range of consulting, technology and outsourcing services to our clients. Accenture operates globally with one
common brand and business model designed to allow it to serve clients on a consistent basis around the world. The principal markets for Accenture are North America, Western Europe, Japan and Australia.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Principles of Combination</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture includes Accenture Partners Soci&#233;t&#233; Coop&#233;rative (Geneva, Switzerland&#151;the administrative
coordinating entity, &#147;APSC&#148;) and a number of entities, many of which operate as partnerships, that have entered into Member Firm Interfirm Agreements (&#147;MFIAs&#148;) with APSC (&#147;Member Firms&#148;), together with all entities
controlled by them. Prior to January 1, 2001, Accenture was known as Andersen Consulting.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture was formally established as a separate stand-alone business unit in a September 1989 restructuring of the
Andersen Worldwide Organization (&#147;AWO&#148;) and operated under separate management from September 1989 until August 7, 2000. During that period, the Accenture Member Firms and the entities controlled by them were parties to MFIAs with Andersen
Worldwide Soci&#233;t&#233; Coop&#233;rative (&#147;AW-SC&#148;). AW-SC also contracted with the Member Firms of Arthur Andersen (hereinafter, &#147;AA&#148; and &#147;AA Member Firms&#148;) and other entities controlled by them. APSC was
incorporated to implement the agreement of the Member Firms and the partners of Accenture to remain together, on substantially the same terms as with AW-SC, as a result of the successful outcome of the arbitration described in Note 10. Each Member
Firm entered into an MFIA with APSC, effective as of August 7, 2000, that was identical in all substantial terms with the prior agreement such Member Firm had with AW-SC.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying financial statements include the combined accounts of Accenture, as described above because the Member
Firms and their controlled entities operate under a common management, through APSC, and previously the business unit management of AW-SC, and the operation of the MFIAs. The equity method of accounting is used for unconsolidated investments in
which Accenture exercises significant influence. All other investments are accounted for under the cost method. All significant interfirm transactions and profits have been eliminated.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Revenue Recognition</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues include all amounts that are billable to clients. Revenues are recognized on a time and materials basis, or on
a percentage of completion basis, depending on the contract, as services are provided by partners, employees and subcontractors. Revenue from time and material service contracts is recognized as the services are provided. Revenue from fixed price
long-term contracts is recognized over the contract term based on the percentage of services provided during the period compared to the total estimated services to be provided over the entire contract. Losses on contracts are recognized during the
period in which the loss first becomes probable and reasonably estimable. Contract losses are determined to be the amount by which the estimated direct and indirect costs of the contract exceed the



estimated total revenues that will be generated by the contract. Losses recognized during each of the three years ended August 31, 2000 were insignificant. Revenue recognized in excess of billings is recorded as Unbilled services. Billings in excess
of revenue recognized are recorded as Deferred revenue until the above revenue recognition criteria are met. Reimbursements, including those relating to travel and other out-of-pocket expenses, and other similar third-party costs, such as the cost
of hardware and software resales, are included in revenues, and an equivalent amount of reimbursable expenses are included in cost of services.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue under non-refundable fixed-price contracts for software licenses is recognized after the software has been
delivered and all significant uncertainties regarding customer acceptance have expired. The portion of the fixed-fee revenue related to maintenance is deferred and recognized ratably over the contract period. Software license and maintenance
revenues were insignificant in each of the three years in the period ended August 31, 2000.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Operating Expenses</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subcontractor costs are included in Cost of services when they are incurred. Training costs were $565,754, $644,760 and
$553,698 in 1998, 1999 and 2000, respectively. Research and development and advertising costs are expensed as incurred. Research and development costs were $211,243 in 1998, $255,905 in 1999 and $251,764 in 2000. Advertising costs were $37,200 in
1998, $46,500 in 1999 and $69,000 in 2000.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Translation of Non-U.S. Currency Amounts</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The net assets and operations of entities outside of the United States are translated into U.S. dollars using
appropriate exchange rates. Assets and liabilities are translated at year-end exchange rates and income and expense items are translated at average exchange rates prevailing during the year. Translation adjustments are accumulated in a separate
component of Partners&#146; Capital.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translations on assets and liabilities denominated in currencies other than their functional currency
resulted in gains/(losses) of ($15,350) in 1998, ($9,642) in 1999 and $27,567 in 2000, which are included in Other income (expense).</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Provision for Taxes</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture operates in partnership form in many countries; therefore, it is not generally subject to income taxes in
those countries. Taxes related to income earned by the partnerships are the responsibility of the individual partners. In other countries, Accenture operates in the form of a corporation and in these circumstances is subject to income taxes. Where
applicable, Accenture accounts for income taxes under the asset and liability method. Deferred income tax expense and the related deferred tax assets and liabilities are not material.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Partnership Income Before Partner Distributions</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership Income Before Partner Distributions is determined in accordance with generally accepted accounting
principles, but is not comparable to net income of a corporation similarly determined. Also, partnership income is not executive compensation in the customary sense of that term because partnership income is comprised of distributions of current
earnings. Accordingly, compensation and benefits for services rendered by partners have not been reflected as an expense in the combined financial statements.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>&nbsp;&nbsp;&nbsp;&nbsp;Cash and Cash Equivalents</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents consist of all cash balances and highly liquid investments with original maturities of three
months or less, including time deposits and certificates of deposit of $416,379 and $486,661 at August 31, 1999 and 2000, respectively. As a result of certain Member Firms&#146; cash management systems, checks issued but not presented to the banks
for payments may create negative book cash payables. Such negative balances are classified as Short-term bank borrowings.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain amounts included in the August 31, 1999 Combined Balance Sheet have been placed in escrow and are reflected as
Escrow deposits. These amounts, including interest earned, could only be distributed in accordance with the Final Award of the Tribunal (see Note 10).</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Concentrations of Credit Risk</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture&#146;s financial instruments that are exposed to concentrations of credit risk consist primarily of Cash and
cash equivalents and Receivables from clients. Accenture places its Cash and cash equivalents with financial institutions and limits the amount of credit exposure with any one financial institution. Accenture actively evaluates the creditworthiness
of the financial institutions with which it invests. The Receivables from clients are dispersed across many different industries and geographies; therefore, concentrations of credit risk are limited. As of and for the years ended August 31, 1998,
1999 and 2000, the allowance for uncollectible accounts and bad debt expense are immaterial.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Investments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments in which Accenture has the ability to exercise significant influence are accounted for under the equity
method. Investments in public equity securities in which Accenture does not have the ability to exercise significant influence are recorded at fair value. Investments in private equity securities in which Accenture does not have the ability to
exercise significant influence are recorded at cost. All investments recorded at fair value have been classified as available-for-sale, and accordingly, the difference between cost and fair value is recorded in Accumulated other comprehensive
income. The cost of securities sold is determined on an average cost basis.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture receives warrants issued by other companies primarily in exchange for services, alliances and directorships.
At the measurement date these warrants are recorded at fair value. Warrants received in connection with services and alliances are recorded as Revenues. Warrants received in connection with directorships are recorded as Other income (expense). Those
warrants issued by publicly-traded entities, in which the warrants themselves have a market, are classified as available-for-sale and the unrealized gains and losses are included in Accumulated other comprehensive income.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management conducts a quarterly impairment review of each investment in the portfolio, including historical and
projected financial performance, expected cash needs and recent funding events. Other than temporary impairments for investments are recognized if the market value of the investment is below its cost basis for an extended period, or the issuer has
experienced significant financial declines or difficulties in raising capital to continue operations. For the three years ended August 31, 2000, other than temporary investment, write-downs were insignificant.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>&nbsp;&nbsp;&nbsp;&nbsp;Foreign Exchange Instruments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture is a party to financial instruments with off-balance-sheet risk. These financial instruments are used in the
normal course of business to manage exposure to fluctuations in foreign exchange rates. These instruments involve, to varying degrees, market risk, as the instruments are subject to rate and price fluctuations and elements of credit risk in the
event a counterparty should default. Credit risk is managed through the careful selection of financially sound counterparties. Since these instruments are used to hedge underlying business exposures, their market risk is offset by opposite movements
in the underlying exposure. The currencies included in these hedging arrangements are: the Australian dollar, Canadian dollar, euro currencies, Japanese yen, Norwegian krone, Swedish krona, Swiss franc and British pound. These instruments are marked
to the spot rate at the balance sheet date and the resulting gains or losses are recognized currently in Other income (expense).</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These instruments are generally short-term in nature, with maturities of less than one year. Had the instruments matured
on August 31, 1999 or 2000, Accenture&#146;s cash requirements to settle its portion of those instruments would have been immaterial. Costs associated with entering into these instruments are amortized over their lives.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Software Development Costs</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Software development costs for computer software sold, leased or otherwise marketed as a separate product are
capitalized and amortized over their estimated useful lives. Such costs were insignificant at August 31, 1999 and 2000.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Property and Equipment</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment is stated at cost, less accumulated depreciation. Depreciation of property and equipment is
computed on a straight-line basis over the following useful lives:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="540" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Buildings</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20 to 25 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Leasehold improvements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Term of lease, 15
<BR>
years maximum</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Computers, related equipment and software</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3 to 5 years</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Furniture and fixtures</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7 to 10 years</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Long-Lived Assets</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying
amount of an asset may not be recoverable. Recoverability of long-lived assets is assessed by a comparison of the carrying amount of the asset to the estimated future net cash flows expected to be generated by the asset. If estimated future
undiscounted net cash flows are less than the carrying amount of the asset, the asset is considered impaired and expense is recorded in an amount required to reduce the carrying amount of the asset to its then fair value.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B><I>&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive Income</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive income includes all changes in Partners&#146; Capital during a period except capital contributions from
and distributions to the partners. The components of Accumulated other comprehensive income at August 31 are:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="560" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Foreign currency translation adjustments</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(30,026</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;(75,101</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Unrealized gains on securities:</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized holding gains</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">380,183</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;1,287,344</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: reclassification adjustment for gains realized in
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership Income Before Partner Distributions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(97,015</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(595,178</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized gains</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">283,168</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">692,166</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accumulated other comprehensive income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$253,142</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;617,065</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>


<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Earnings Per Share</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture operates as a series of related partnerships and corporations under the control of the partners. There is no
single capital structure upon which to calculate historical earnings per share information. Accordingly, historical earnings per share information has not been presented.</FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Use of Estimates</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The preparation of financial statements in conformity with generally accepted accounting principles requires management
to make estimates and assumptions that affect the amounts that are reported in the combined financial statements and accompanying disclosures. Although these estimates are based on management&#146;s best knowledge of current events and actions that
Accenture may undertake in the future, actual results may be different from the estimates.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Recent Accounting Pronouncements</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statement of Position 98-1, &#147;Accounting for the Costs of Computer Software Developed or Obtained for Internal
Use&#148; (&#147;SOP 98-1&#148;) was adopted as of September 1, 1999. This statement addresses how to distinguish internal-use software from software to be sold, which costs are to be capitalized, when capitalization begins and ends and guidelines
for amortization and evaluating impairments. Under SOP 98-1 general and administrative costs are not capitalized. Adoption of this statement did not have a material effect on Accenture&#146;s results of operations or financial position.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In June 1998, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 133,
&#147;Accounting for Derivative Instruments and Hedging Activities&#148; (&#147;SFAS 133&#148;). SFAS 133, which as amended, establishes accounting and reporting standards for derivative instruments and hedging activities. It requires an entity to
recognize all derivatives as either assets or liabilities on the balance sheet and measure those instruments at fair value. Accenture will adopt SFAS 133 in the first quarter of 2001. Management expects the initial adoption of SFAS 133 to result in
cumulative income of $187,974 on September 1, 2000 and investment losses of $51,322 during the first quarter of 2001.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In December 1999, the Securities and Exchange Commission issued Staff Accounting Bulletin No. 101 (&#147;SAB
101&#148;), which summarizes the views of the Commission staff in applying generally accepted accounting principles to revenue recognition in financial statements. Accenture&#146;s revenue recognition principles are consistent with the guidance set
forth in SAB 101.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In March 2000, a consensus was reached by the Emerging Issues Task Force (&#147;EITF&#148;) on Issue No. 00-02,
&#147;Accounting for Web Site Development Costs.&#148; Issue No. 00-02 addresses the accounting for website development costs. Adoption of issue No. 00-02 did not have a material effect on the Company&#146;s results of operations.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In May 2000, a consensus was reached by the EITF on Issue No. 00-08, Accounting by a Grantee for an Equity Instrument to
be Received in Conjunction with Providing Goods or Services.&#148; Issue No. 00-08 requires a company that provides goods or services in exchange for equity instruments to measure the fair value of those equity instruments for revenue recognition
purposes on the earlier of the date the parties come to a mutual understanding of the terms of the equity-base compensation arrangement and a commitment for performance by the grantee to earn the equity instruments is reached or the date at which
the grantee&#146;s performance necessary to earn the equity instruments is complete. In addition, Issue No. 00-08 provides guidance on accounting by the grantee for an increase in the fair value of the equity instrument for transactions in which any
of the terms of the equity instruments are subject to adjustment after the measurement date. Adoption of Issue No. 00-08 did not have a material effect on Accenture&#146;s results of operations or financial position.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In May 2000, a consensus was reached by the EITF on Issue 00-14, &#147;Accounting for Certain Sales Incentives.&#148;
Issue No. 00-14 addresses the recognition, measurement, and income statement classification for sales incentives offered voluntarily by a vendor without charge to customers that can be used in, or that are exercisable by a customer as a result of, a
single exchange transaction. Adoption of Issue No. 00-14 is not expected to have a material effect on Accenture&#146;s results of operations.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In July 2000, a consensus was reached by the EITF on Issue No. 99-19, &#147;Reporting Revenue Gross as a Principal
versus Net as an Agent.&#148; Issue No. 99-19 requires a company to consider various factors or indicators to determine whether a company should recognize revenue based on (a) the gross amount billed to a customer because it has earned revenue from
the sale of the goods or services or (b) the net amount retained (that is, the amount billed to the customer less the amount paid to a supplier) because it has earned a commission or fee. Accenture&#146;s reporting of revenues is consistent with the
requirements of Issue No. 99-19.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;PROPERTY AND EQUIPMENT</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net at August 31 is composed of the following:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="559" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Buildings and land</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;66,886</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;72,953</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Leasehold improvements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">254,717</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">286,177</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Computers, related equipment and software</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">698,438</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">782,107</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Furniture and fixtures</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">275,149</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">252,905</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Total accumulated depreciation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(636,473</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(688,634</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;658,717</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;705,508</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD></TD>
</TR>
</TABLE>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>3.&nbsp;&nbsp;&nbsp;&nbsp;INVESTMENTS</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments which are intended to be sold in the following twelve months are classified in current assets as Short-term
investments. All other investments are classified as Long-term investments. Investments held at August 31 are as follows:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="560" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Marketable equity securities: short-term</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$126,390</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$395,620</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Marketable equity securities: long-term</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">176,057</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">358,688</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Non-marketable and other</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">287</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">150,977</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$302,734</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$905,285</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Marketable Equity Securities</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketable equity securities include common stock, warrants and preferred stock, all of which are classified as
available-for-sale. The unrealized gains and losses on these investments included in Accumulated other comprehensive income at August 31, is as follows:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="560" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Fair value</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$302,447</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$754,308</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Cost</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19,279</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">62,142</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Gross unrealized gains</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">284,474</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">697,228</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Gross unrealized losses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,306</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(5,062</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Equity Method Investments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture has investments in various entities that are accounted for under the equity method, including Avanade, a 51%
owned investment at August 31, 2000. Avanade is accounted for under the equity method because the minority shareholder has certain approval or veto rights that allows it to participate in significant decisions related to the entity&#146;s ordinary
course of business. Under the equity method, investments are stated at initial cost and are adjusted for subsequent contributions and Accenture&#146;s share of earnings, losses and distributions. The underlying equity in net assets of these
investments exceeds Accenture&#146;s carrying value by approximately $0 and $49,528, at August 31, 1999 and 2000, respectively. The negative goodwill is being amortized over three years on a straight-line basis. Amortization of negative goodwill of
$0, $0 and $1,376 in 1998, 1999 and 2000, respectively, was reflected as a component of Equity in losses of affiliates in the accompanying Combined Income Statements Before Partner Distributions.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;BORROWINGS AND INDEBTEDNESS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Lines of Credit</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At August 31, 2000, Accenture has a $450,000 unsecured multicurrency revolving credit facility with nine financial
institutions under which it may borrow from the participants ratably in proportion to their respective commitments. The facility also provides a $100,000 sublimit for the issuance of letters of credit. The facility provides for committed borrowings
at the prime rate, or at LIBOR plus a borrowing
margin and also offers a competitive bid option. Borrowings under this facility were $0 and $66,980 at August 31, 1999 and 2000, respectively. Letters of credit outstanding at August 31, 1999 and 2000, were $40,000 and $38,000, respectively. The
facility is subject to annual commitment fees.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At August 31, 2000, Accenture also has in place unsecured multicurrency credit agreements and local lines of credit of
$271,896 and $182,679, respectively, in the form of committed and non-committed facilities at interest rates that vary from country to country depending on local market conditions. Borrowings under these facilities were $65,984 and $97,785 at August
31, 1999 and 2000, respectively. Certain of the agreements are subject to annual commitment fees.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The most restrictive of these credit agreements requires Accenture to maintain certain financial ratios and meet certain
net worth and indebtedness tests. All these requirements were met throughout the three years ended August 31, 2000.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Long-Term Debt</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt at August 31 consisted of the following:</FONT></DIV>

<TABLE ALIGN="center" WIDTH="560" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Joint Debt&#151;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;Unsecured notes payable to insurance companies due upon
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;maturity at various dates through 2002 with interest due
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;semiannually at fixed rates ranging from 7.52% to 8.49%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$100,000</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$75,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;Collateral trust note payable in fixed annual installments
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;through 2011 with interest due semiannually at 9.26%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">37,464</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">34,342</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Collateral trust note payable in varying annual installments through
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2007 with interest due annually at 8.12%, secured by real
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;property</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">19,665</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18,060</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Other</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,384</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">157,129</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">128,786</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Less&#151;Current portion</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29,727</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29,921</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
Long-term debt</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$127,402</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$98,865</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Debt maturities for the five years following the year ended August 31, 2000 are as follows:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="312" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2001</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$29,921</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2002</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">56,517</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2003</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5,363</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2004</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5,613</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2005</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5,884</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture and AA are jointly liable for the Joint Debt, which is reported in total in the financial statements of
Accenture. The trust note for which Accenture and AA are jointly liable is collateralized by a mortgage on AA buildings and land.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Interest</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The weighted average interest rate on borrowings under the multicurrency credit agreements and lines of credit, based on
the average annual balances, was approximately 9% in 1998, 12% in 1999 and 7% in 2000.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>5.&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL INSTRUMENTS</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At August 31, 1999 and 2000, the carrying amount of the following financial instruments approximates their fair value
because of their short maturities: Cash and cash equivalents, Receivables from clients, Short-term bank borrowings, Accounts payable and Other accrued liabilities.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For all other financial instruments, the following methods and assumptions were used to approximate fair
value:</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Investments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quoted market prices are used to determine the fair value for the common and preferred equity and debt securities that
were issued by publicly traded entities. Those debt and equity securities issued by non-public entities were valued by reference to the most recent round of financing as an approximation of the market value. The fair value and cost of the warrants
were approximated using the Black-Scholes valuation model after considering restrictions on exercisability or sale.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH ROWSPAN=2 VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Type of Investment</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=3 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=3 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Cost</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Fair Value</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Cost</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Fair Value</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Debt and equity securities (cost method)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;Issued by public entities, short-term</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;1,104</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$126,390</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$395,620</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;Issued by public entities, long-term</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10,053</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">146,966</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">31,442</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">159,205</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;Issued by non-public entities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">287</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">287</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;134,094</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">174,573</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Warrants</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;Issued by public entities, long-term</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8,122</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29,091</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">30,100</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">199,483</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;Issued by non-public entities</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">30,946</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">27,161</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Long-Term Debt</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The fair value of Long-term debt, including current maturities, was estimated to be $165,253 and $132,362 at August 31,
1999 and 2000, respectively, based on the borrowing rates currently available to Accenture for loans with similar terms and average maturities.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Foreign Exchange Instruments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The fair value method is used to account for these instruments. Under the fair value method, the instruments are carried
at fair value as a component of Other current assets. The resulting gains/losses are recognized in current income. Broker quoted exchange rates were used to determine the fair value of the instruments at August 31, 1999 and 2000. The notional values
and fair values of derivative foreign exchange instruments on and off balance sheet at August 31 are as follows:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=4 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=4 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Notional
<BR>
Value</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Fair
<BR>
Value</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Notional
<BR>
Value</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Fair
<BR>
Value</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Foreign currency forward exchange contracts&#151;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To sell</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;7,836</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;(55</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$100,768</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;3,300</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To buy</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;167,935</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(816</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">107,361</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(2,814</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Option contracts</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Put options</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;48,544</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,454</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;84,732</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$12,269</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Call options</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">79,388</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">400</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">26,264</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
</TABLE>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>6.&nbsp;&nbsp;&nbsp;&nbsp;PARTNERS&#146; CAPITAL</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partners&#146; capital represents the capital of partners who are the owners of Accenture Member Firms. Paid-in capital
is repayable within 60 days following a partner&#146;s resignation, retirement or death. Interest is paid to the partners on their paid-in capital accounts and recorded as a distribution of partners&#146; income. Undistributed earnings, contained
within Partners&#146; Capital, represents partnership income before distributions which has not been paid to the partners. Partners are not paid interest on Undistributed earnings. The average balance of the Undistributed earnings and Paid-in
capital during each of the three years ended August 31, 2000 was $1,104,865, $1,687,197, and $1,853,190.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon retirement, all Accenture partners or their qualifying surviving spouses are entitled to receive basic retirement
benefits for life. The amount of annual benefit payments is periodically adjusted for cost-of-living adjustments at the beginning of each calendar year. Annual benefits paid to each retired partner were $39, $40 and $40, reduced by 50% for surviving
spouses, for the years beginning January 1, 1998, 1999 and 2000, respectively. Basic retirement benefits of $1,070 in 1998, $1,268 in 1999 and $1,759 in 2000 were paid to retired partners and recorded as a distribution of partners&#146; income.
Basic retirement benefits are not funded, may be rescinded at any time by a two-thirds vote of the partners, are paid out of current partnership income and accordingly, no liability is reflected on the Combined Balance Sheets. If this plan continued
indefinitely, the projected benefit obligation, determined on an actuarial basis, would be $153,000 at August 31, 2000.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Early retirement benefits are paid to certain Accenture partners retiring between the ages of 56 and 62. Partners
retiring after age 56 and prior to age 62 receive early retirement benefits based on two years&#146; earnings on a straight-line declining basis that results in no payout to partners retiring at age 62. Retired partners can elect to receive early
retirement benefits in the form of a lump-sum payment or ten year installment payments.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Early retirement benefits of $10,444 in 1998, $12,483 in 1999 and $28,967 in 2000 were paid to retired partners and
recorded as a distribution of partners&#146; income. The amount due for early retirement benefits and for the amount due to resigning partners electing the installment method was $124,934 and $249,692 at August 31, 1999 and 2000, respectively. Early
retirement benefits are not funded, may be rescinded at any time by the Board of Partners, are paid out of current partnership income and accordingly, no liability is reflected on the Combined Balance Sheets. If this plan continued indefinitely, the
projected benefit obligation, determined on an actuarial basis, would be $800,000 at August 31, 2000, including the obligation to retired partners who are currently receiving ten year installment payments.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective September 1, 2000, the early retirement benefit program was modified to be payable at age 50 based on one
year&#146;s earnings, increasing on a straight-line basis to two years&#146; earnings at age 56 and declining to zero at age 62.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;PROFIT SHARING AND RETIREMENT PLANS</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the United States, Accenture maintains and administers a trusteed profit sharing plan that includes 18,700 active
Accenture employees. The annual profit sharing contribution is determined by management. The contribution to the profit sharing trust was $61,804 in 1998, $79,708 in 1999 and $87,189 in 2000, which approximated 6% of plan members&#146;
compensation.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the United States, and certain other countries, Accenture also maintains and administers noncontributory retirement
and postretirement medical plans for active, retired and resigned Accenture employees. Benefits under the noncontributory employee retirement plans are based on years of service and compensation during the years immediately preceding retirement.
Plan assets of the noncontributory employee retirement plans consist of investments in equities, fixed income securities and cash equivalents. Annual contributions are made at such times and in amounts as required by law and may, from time to time,
exceed minimum funding requirements.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, certain postemployment benefits are provided to former or inactive employees after employment but before
retirement, including severance benefits, disability-related benefits (including worker&#146;s compensation) and continuation of benefits such as healthcare benefits and life insurance coverage. These costs are substantially provided for on an
accrual basis.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following schedules provide information concerning the material defined benefit pension and postretirement benefit
plans.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="613" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Pension Benefits</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Other Benefits</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Changes in projected benefit obligation</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Projected benefit obligation, beginning of year</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$239,793</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$269,996</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;22,555</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;28,392</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Service cost</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">50,919</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">46,870</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5,495</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,205</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest cost</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15,544</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18,596</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,461</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,123</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Actuarial (gain)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(37,448</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(65,942</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,025</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(3,151</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Benefits paid</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(3,129</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(5,521</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(94</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(106</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Exchange rate (gain)/loss</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4,317</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(2,964</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Projected benefit obligation, end of year</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$269,996</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$261,035</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;28,392</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;30,463</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Changes in plan assets</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Fair value of plan assets, beginning of year</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$151,862</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$228,052</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;11,584</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;12,552</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Expected return on plan assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12,138</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">23,742</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">810</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,033</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Actuarial gain/(loss)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12,797</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(8,227</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">252</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(488</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Employer contributions</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">50,918</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">13,858</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,135</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Benefits paid</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(3,129</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(5,521</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(94</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(106</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Exchange rate gain</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,466</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">219</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Fair value of plan assets, end of year</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$228,052</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$252,123</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;12,552</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;15,126</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Reconciliation of funded status</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Funded status</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(41,944</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;(8,912</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(15,840</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(15,337</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Unrecognized transitional obligation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,539</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,747</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,170</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,083</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Unrecognized loss/(gain)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,388</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(56,104</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,932</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,166</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Unrecognized prior service cost</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">14,447</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12,154</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(Accrued) benefit cost as of 6/30</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(22,570</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(50,115</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(10,738</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(12,088</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Contribution between 6/30-8/31</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,045</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,308</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Adjusted (accrued) benefit cost as of 8/31</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(22,570</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(50,115</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;(8,693</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;(8,780</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Amounts recognized in the Combined Balance Sheets
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;consist of:</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Prepaid benefit cost</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;7,380</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accrued benefit liability</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(29,950</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(50,115</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(8,693</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(8,780</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Net amount recognized at year-end</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(22,570</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(50,115</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;(8,693</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;(8,780</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Components of pension expense</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Service cost</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;50,919</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;46,870</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;5,495</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;3,205</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest cost</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">15,544</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18,596</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,461</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,123</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Expected return on plan assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(12,138</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(23,742</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(810</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1,033</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Amortization of transitional obligation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">475</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">537</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">87</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">87</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Amortization of loss</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,464</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">22</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">140</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">142</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Amortization of prior service cost</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,011</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2,293</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;59,275</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;44,576</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;6,373</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;4,524</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Weighted-average assumptions</B></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Discount rate</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6.94</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7.26</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7.50</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8.00</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Expected return on plan assets</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7.93</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8.07</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8.0%/6.0</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">8.0%/6.0</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Rate of increase in future compensation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5.52</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">7.89</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">%</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">N/A</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">N/A</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
</TABLE>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The projected benefit obligations and fair value of plan assets for defined benefit pension plans with projected
benefit obligations in excess of plan assets were $269,996 and $228,052, respectively, as of August 31, 1999 and $261,035 and $252,123, respectively, as of August 31, 2000. The accumulated benefit obligations and fair value of plan assets for plans
with accumulated benefit obligations in excess of plan assets were $35,600 and $17,200, respectively, as of August 31, 1999 and $38,000 and $19,800, respectively, as of August 31, 2000.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Assumed Health Care Cost Trend</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An 8.5% annual rate of increase in the per capita cost of health care benefits was assumed for the plan year ending June
30, 2001. The trend rate assumptions are changed beginning for the plan year ending June 30, 2001. This rate is assumed to decrease to 5.0% for the plan year ending June 30, 2008 and remain at that level thereafter. Assumed health care cost trend
rates have a significant effect on the amounts reported for the health care plan. A one-percentage point change in assumed health care cost trend would have the following effects:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="561" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>One Percentage
<BR>
Point Increase</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Effect on total of service and interest cost components</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;1,191</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;875</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Effect on year-end postretirement benefit obligation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4,386</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;5,600</FONT></TD>
<TD><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN=7 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=7><FONT SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=5 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>One Percentage
<BR>
Point Decrease</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH COLSPAN=2 VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Effect on total of service and interest cost components</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$(1,014</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;(796</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Effect on year-end postretirement benefit obligation</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(4,033</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;(4,500</FONT></TD>
<TD VALIGN="bottom" ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">)</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;LEASE COMMITMENTS</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Accenture Member Firms have various lease agreements, principally for office space, with various renewal options.
The majority of these lease agreements are on a recourse basis to Accenture only. Rental expense (net of sublease income from third parties of $4,002 in 1998, $2,154 in 1999 and $3,273 in 2000) including operating costs and taxes, was $161,863 in
1998, $196,577 in 1999 and $217,675 in 2000. Future minimum rental commitments under non-cancelable operating leases as of August 31, 2000, are as follows:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="312" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;178,974</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">148,447</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">129,392</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">118,528</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">102,450</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Thereafter</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">361,606</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$1,039,397</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total minimum rental commitments have not been reduced for future minimum sublease rentals aggregating
$10,186.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>9.&nbsp;&nbsp;&nbsp;&nbsp;RELATED PARTIES</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In prior years, and to a limited extent on a continuing basis, Accenture has engaged in various transactions with
AA/AW-SC. Below is a summary of those transactions.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="559" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Nature of Transaction</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Rental expense</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$45,871</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$36,353</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$23,948</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Andersen Worldwide costs allocated</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">87,842</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">24,163</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">18,975</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Professional education and development costs</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">72,927</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">52,582</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">38,577</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Professional services</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29,360</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">31,880</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">34,710</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Interest expense</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">16,844</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">12,955</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,950</FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Combined Income Statements Before Partner Distributions include expenses that have been allocated to Accenture by
AW-SC on a specific identification basis. In addition, AW-SC has incurred certain costs on behalf of Accenture which have been allocated to Accenture primarily based on square footage, partner units, net assets employed or number of training
participants. Prior to 1999, all interest income and interest expense incurred by Accenture, AA and AW-SC was centrally combined by AW-SC and allocated by AW-SC on a net basis back to Accenture and AA. Therefore, the Combined Income Statements
Before Partnership Distributions reflect no interest income in 1998. Management believes these allocations and charges are reasonable and that such expenses would not have differed materially had Accenture operated on a stand-alone basis prior to
August 7, 2000.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until August 7, 2000, AW-SC, as an agent for the Accenture and AA Member Firms, facilitated various member firm
agreements between the individual Accenture and AA Member Firms. Amounts due to AW-SC from Accenture Member Firms under these member firm agreements were $232,548 in 1998, $279,776 in 1999 and $313,832 in 2000.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>10.&nbsp;&nbsp;&nbsp;&nbsp;COMMITMENTS AND CONTINGENCIES</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At August 31, 2000, Member Firms or their present personnel had been named as a defendant in various litigation matters
involving present or former clients. All of these are civil in nature. Based on the present status of these litigation matters, the management of Accenture believes the liability will not ultimately have a material effect on the results of
operations or the financial position and cash flows of Accenture.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December 17, 1997, the Accenture Member Firms requested binding arbitration, pursuant to their respective MFIAs with
AW-SC, of claims that the AA Member Firms and AW-SC, among other things, had breached or failed to perform material obligations owed to the Accenture Member Firms. The MFIAs provided that performance thereunder should continue if reasonably possible
pending the resolution of the arbitration subject to the right to discharge payment obligations at issue in such an arbitration by placing amounts in escrow. On August 18, 1998, certain Accenture Member Firms placed into escrow $195,000, which
represented the majority of the $232,548 payable under the member firm agreements to AA Member Firms for 1998. Accenture Member Firms placed the remaining $37,548 into escrow on December 22, 1998. On August 27, 1999, $50,000 was placed into escrow,
representing a portion of the $279,776 payable under the member firm agreements to AA Member Firms for 1999. Accenture Member Firms placed the remaining $229,776 into escrow in December 1999. Under the
terms of the escrow agreement these funds, including interest earned, could only be distributed out of escrow in accordance with the Final Award of the Tribunal in the aforementioned arbitration. The escrowed funds are reflected in Escrow deposits
and Undistributed earnings in Accenture&#146;s Combined Balance Sheet at August 31, 1999.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By its Final Award dated July 28, 2000, and notified to the parties on August 7, 2000, the Tribunal appointed by the
International Chamber of Commerce (&#147;ICC&#148;) ruled that AW-SC had breached its material obligations under the MFIAs in fundamental respects and the Accenture Member Firms were excused from any further obligations to AW-SC and AA Member Firms
under the MFIAs as of August 7, 2000. The ruling further stated that the escrowed funds plus accrued interest should be paid to AA as directed by AW-SC and allocated the costs of the proceeding among the parties. The escrowed funds, along with net
accumulated interest on investments, were transferred to AA by the escrow agent on various dates in September, 2000.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>11.&nbsp;&nbsp;&nbsp;&nbsp;SEGMENT REPORTING</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating segments are defined as components of an enterprise about which separate financial information is available
that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture&#146;s chief operating decision maker is the Managing Partner and Chief Executive Officer. The operating
segments are managed separately because each operating segment represents a strategic business unit that serves different markets. The reportable operating segments are the five global market units, which are Communications &amp; High Tech,
Financial Services, Government, Products and Resources.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Reportable Segments</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="611" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended
<BR>
August 31, 1998</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Comm. &amp;
<BR>
High Tech</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Financial
<BR>
Services</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Government</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Products</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Resources</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Other (1)</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Total</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Revenues before reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,903,366</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$2,405,108</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$547,034</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,575,941</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,701,417</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$81,901</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$8,214,767</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Depreciation (2)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">43,012</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">49,000</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">12,769</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">32,182</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">35,735</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">172,698</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">345,872</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">681,126</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">20,177</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">350,202</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">276,003</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">109,740</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">1,783,120</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Assets at August 31 (3)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;224,741</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;202,495</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$105,262</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;174,303</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;183,816</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$21,061</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;911,678</FONT></TD>
</TR>
<TR>
<TD COLSPAN=15 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=15><FONT SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended
<BR>
August 31, 1999</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Comm. &amp;
<BR>
High Tech</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Financial
<BR>
Services</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Government</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Products</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Resources</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Other (1)</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Total</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Revenues before reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$2,498,460</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$2,736,416</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$777,028</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,664,317</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,812,369</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$61,266</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$9,549,856</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Depreciation (2)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">59,745</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">67,459</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">18,285</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">31,651</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">39,892</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">217,032</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">531,554</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">814,064</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">93,942</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">249,872</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">266,867</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">75,395</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,031,694</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Assets at August 31 (3)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;368,414</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;227,894</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$141,795</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;154,383</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;169,884</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$20,750</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,083,120</FONT></TD>
</TR>
<TR>
<TD COLSPAN=15 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=15><FONT SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Year ended
<BR>
August 31, 2000</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Comm. &amp;
<BR>
High Tech</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Financial
<BR>
Services</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Government</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Products</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Resources</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Other (1)</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Total</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Revenues before reimbursements</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$2,806,506</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$2,541,900</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$796,862</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,890,686</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,660,868</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$55,263</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$9,752,085</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Depreciation (2)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">65,425</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">62,633</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">19,005</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">43,805</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">46,210</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&#151;&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">237,078</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Operating income</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">638,508</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">652,880</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">70,542</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">390,475</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">248,948</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">84,766</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">2,086,119</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">Assets at August 31 (3)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;492,220</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;302,138</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$123,933</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;188,252</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;&nbsp;&nbsp;178,750</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;6,418</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">$1,291,711</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> (1)&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Other includes Accenture&#146;s consolidated affiliate companies and operations which are not related to a global market
unit. Also included is an interest credit of $81,623, $79,496 and $87,639 in 1998, 1999 and 2000, respectively, to offset interest expense charged directly to the operating segments in arriving at Operating income.</FONT></DIV>
</TD>
</TR>
</TABLE>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(2)&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">This amount includes depreciation on property and equipment controlled by each operating segment as well as an allocation for
depreciation on property and equipment they do not directly control.</FONT></DIV>
</TD>
</TR>
</TABLE>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(3)&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Operating segment assets directly attributed to an operating segment and provided to the chief operating decision maker
include Receivables from clients, Unbilled services, Deferred revenue and a portion of Other long-term assets that represent balances for clients with extended payment terms.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV ALIGN="left">


</DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"></TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Geographic Information</B></I></FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues for the years ended August 31 are indicated below. Revenues are attributed to geographic areas based on the
country of assignment of the partners and employees performing the services.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="560" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Americas</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$5,661,971</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;6,070,823</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$&nbsp;&nbsp;6,259,859</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">EMEAI(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,276,167</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4,244,441</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">4,391,095</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Asia/Pacific</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">701,575</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">764,075</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">888,996</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$9,639,713</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$11,079,399</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$11,539,950</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At August 31 long-lived assets, which represent property and equipment, net were as follows:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="559" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1998</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>1999</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>2000</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Americas</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$391,630</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$446,089</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$500,133</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">EMEAI(1)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">149,868</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">169,053</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">158,184</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Asia/Pacific</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">29,095</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">43,575</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">47,191</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$570,593</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$658,717</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$705,508</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">(1)</FONT></DIV>
</TD>
<TD WIDTH="96%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">EMEAI includes Europe, the Middle East, Africa and India.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accounting policies of the operating segments are the same as those described in Note 1, Summary of Significant
Accounting Policies, except for interest expense as described above.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>12.&nbsp;&nbsp;&nbsp;&nbsp;SUBSEQUENT EVENTS</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the terms of the Final Award, Accenture (and each of the entities comprising it) is required to cease using the
Andersen name or any derivative thereof, no later than December 31, 2000, with certain exceptions. On January 1, 2001, Accenture began to conduct business under the name &#147;Accenture&#148;, a coined word that connotes putting an accent or
emphasis on the future, just as the firm focuses on helping its clients create their future.</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>ACCENTURE</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>NOTES TO COMBINED FINANCIAL STATEMENTS&#151;(Continued)</B></FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>(In thousands of U.S. dollars)</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December 19, 2000, AW-SC, AA LLP, the other AA Member Firms, APSC, Accenture LLP (formerly Andersen Consulting LLP)
and the Accenture Member Firms, on their own behalves and on behalf of their respective partners, shareholders, other principals and affiliates, executed a binding Memorandum of Understanding (&#147;MOU&#148;) to settle and resolve all existing and
potential disputes among the various parties concerning (i) the implementation of the award of the arbitrator in the ICC arbitration described in Note 10 and (ii) the separation of the Accenture Member Firms from AW-SC and AA. The MOU provides for
payments of $556,000, including settlement of all interfirm payables and the reciprocal guarantee for 2000 of $313,832 referred to in Note 9. In addition, the MOU calls for Accenture and AA to enter into (1) a six-year services agreement under which
AA will provide certain services to Accenture for payments to AA of $60,000 per year, (2) a five-year agreement under which AA will provide certain training facilities to Accenture for payments to AA of $60,000 per year, and (3) a five-year
agreement under which Accenture will provide $22,500 per year of certain services at no cost to AA. Each agreement is effective as of January 1, 2001.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> [Inside Back Cover Artwork:</FONT></DIV>



<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">A photograph of man listening to another man speak occupies the full page. &#147;{Now it gets interesting.}&#148; is written approximately two inches from the top of
the page. The following text is written across the page approximately 5.5" from the bottom of the page:     &#147;South Korea Spain Sweden Switzerland Taiwan Thailand Turkey     United Arab Emirates United Kingdom United States Venezuela*&#148;.
A footnote on the lower left hand corner of the gatefold reads,     &#147;*Accenture has offices in these countries.&#148;]</FONT></DIV>

<HR SIZE=3 NOSHADE> <HR SIZE=1 NOSHADE> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica"> <B>No dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this prospectus. You must not rely on any
unauthorized information or representations. This prospectus is an offer to sell only the shares offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is current
only as of its date.</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica"><B>TABLE OF CONTENTS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="290" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="Arial, Helvetica"><B>Page</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx1">Summary</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">3</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx2">Risk Factors</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">13</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx3">Disclosure Regarding Forward-Looking</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468tx3">Statements</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">23</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx4">Accenture Organizational Structure</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">24</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx5">Use of Proceeds</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">27</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx6">Dividend Policy</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">27</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx7">Capitalization</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">28</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx8">Dilution</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">29</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx9">Pro Forma Combined Financial Information</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">30</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx10">Selected Financial Data</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">39</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx11">Management&#146;s Discussion and Analysis of</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468tx11">Financial Condition and Results of</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468tx11">Operations</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">40</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx12">Business</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">60</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx13">Management</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">85</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx14">Certain Relationships and Related</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468tx14">Transactions</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">97</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx15">Principal Shareholders</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">107</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx16">Description of Share Capital</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">109</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx17">Shares Eligible for Future Sale</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">114</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx18">Certain Income Tax Consequences</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">116</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx19">Underwriting</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">120</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx20">Legal Matters</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">123</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx21">Experts</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">123</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx22">Where You Can Find More Information</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">123</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468fin1">Index to Financial Statements</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">F-1</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica"><B>Through and including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2001 (the 25th day after the
date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer&#146;s obligation to deliver a prospectus when
acting as an underwriter and with respect to an unsold allotment or subscription.</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<HR SIZE=1 NOSHADE> <HR SIZE=3 NOSHADE> <HR SIZE=3 NOSHADE> <HR SIZE=1 NOSHADE> <DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="Arial, Helvetica"><B>115,000,000</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="Arial, Helvetica"><B>Class A Common Shares</B></FONT></DIV>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="6" COLOR="#000000" FACE="Arial, Helvetica"><B>Accenture Ltd</B></FONT></DIV>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica"><B>Joint Book-Running Managers</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Goldman, Sachs &amp; Co.</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Morgan Stanley</B></FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Credit Suisse First Boston</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Deutsche Banc Alex. Brown</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>JPMorgan</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Salomon Smith Barney</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Banc of America Securities LLC</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Lehman Brothers</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>Merrill Lynch &amp; Co.</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>UBS Warburg</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="'Times New Roman', Times"><B>ABN AMRO Rothschild LLC</B></FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<IMG SRC="g9046890468balan04.jpg" WIDTH="193" HEIGHT="55"></B></FONT></DIV>
<DIV><FONT SIZE="4">&nbsp;</FONT></DIV>
<HR SIZE=1 NOSHADE> <HR SIZE=3 NOSHADE> <DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>[Alternate Page for International Prospectus]</B></FONT></DIV>
<HR SIZE=3 NOSHADE> <HR SIZE=1 NOSHADE> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica"> <B>No dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this prospectus. You must not rely on any
unauthorized information or representations. This prospectus is an offer to sell only the shares offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is current
only as of its date.</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica"><B>TABLE OF CONTENTS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="290" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;</FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="Arial, Helvetica"><B>Page</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx1">Summary</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">3</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx2">Risk Factors</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">13</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx3">Disclosure Regarding Forward-Looking</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468tx3">Statements</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">23</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx4">Accenture Organizational Structure</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">24</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx5">Use of Proceeds</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">27</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx6">Dividend Policy</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">27</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx7">Capitalization</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">28</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx8">Dilution</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">29</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx9">Pro Forma Combined Financial Information</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">30</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx10">Selected Financial Data</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">39</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx11">Management&#146;s Discussion and Analysis of</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468tx11">Financial Condition and Results of</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468tx11">Operations</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">40</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx12">Business</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">60</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx13">Management</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">85</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx14">Certain Relationships and Related</A>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="#468tx14">Transactions</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">97</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx15">Principal Shareholders</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">107</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx16">Description of Share Capital</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">109</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx17">Shares Eligible for Future Sale</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">114</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx18">Certain Income Tax Consequences</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">116</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx19">Underwriting</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">120</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx20">Legal Matters</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">123</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx21">Experts</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">123</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468tx22">Where You Can Find More Information</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">123</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">
<A HREF="#468fin1">Index to Financial Statements</A>
</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica">F-1</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica"><B>Through and including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2001 (the 25th day after the
date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer&#146;s obligation to deliver a prospectus when
acting as an underwriter and with respect to an unsold allotment or subscription.</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<HR SIZE=1 NOSHADE> <HR SIZE=3 NOSHADE> <HR SIZE=3 NOSHADE> <HR SIZE=1 NOSHADE> <DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="Arial, Helvetica"><B>115,000,000</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="5" COLOR="#000000" FACE="Arial, Helvetica"><B>Class A Common Shares</B></FONT></DIV>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="6" COLOR="#000000" FACE="Arial, Helvetica"><B>Accenture Ltd</B></FONT></DIV>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica"><B>Joint Book-Running Managers</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Goldman Sachs International</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Morgan Stanley</B></FONT></DIV>

<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="Arial, Helvetica"><B>Joint Lead Manager</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Credit Suisse First Boston</B></FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="4">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Deutsche Bank</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>JPMorgan</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Salomon Smith Barney</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Banc of America Securities Limited</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Lehman Brothers</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>Merrill Lynch International</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>UBS Warburg</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="4" COLOR="#000000" FACE="'Times New Roman', Times"><B>ABN AMRO Rothschild</B></FONT></DIV>

<DIV><FONT SIZE="3">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><HR WIDTH="21%" SIZE="1" NOSHADE></DIV>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>
<DIV ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>
<IMG SRC="g9046890468balan04.jpg" WIDTH="193" HEIGHT="55"></B></FONT></DIV>
<DIV><FONT SIZE="4">&nbsp;</FONT></DIV>
<HR SIZE=1 NOSHADE> <HR SIZE=3 NOSHADE> <DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>PART II</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>INFORMATION NOT REQUIRED IN PROSPECTUS</B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Item 13.&nbsp;&nbsp;&nbsp;&nbsp;<I>Other Expenses of Issuance and Distribution</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth the costs and expenses, other than underwriting discounts and commissions, payable by the
Registrant in connection with the offer and sale of the Class A common shares being registered. All amounts are estimates except the registration fee, the NASD filing fee and the New York Stock Exchange listing fees.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>

<TABLE ALIGN="center" WIDTH="468" CELLSPACING=0 CELLPADDING=0>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Registration fee</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$ &nbsp;&nbsp;&nbsp;&nbsp;495,938</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">NASD filing fee</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">30,500</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">IPO consulting fees and expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">6,000,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Blue Sky fees and expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">20,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">New York Stock Exchange listing fees</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">500,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Accounting fees and expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">3,000,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Legal fees and expenses</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">5,600,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Transfer agent and registrar fee</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">25,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Printing and engraving</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,500,000</FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Miscellaneous</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">1,004,062</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="1" NOSHADE></FONT></TD>
</TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">$18,175,500</FONT></TD>
</TR>
<TR>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD><FONT SIZE="1"><HR ALIGN="right" WIDTH="100%" SIZE="2" NOSHADE></FONT></TD>
</TR>
</TABLE>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Item 14.&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification of Directors and Officers</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The bye-laws of the Registrant provide for indemnification of the Registrant&#146;s officers and directors against all
liabilities, loss, damage or expense incurred or suffered by such party as an officer or director of the Registrant; <I>provided</I> that such indemnification shall not extend to any matter which would render it void pursuant to the Companies Act
1981 of Bermuda.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Companies Act provides that a Bermuda company may indemnify its directors and officers in respect of any loss
arising or liability attaching to them as a result of any negligence, default or breach of trust of which they may be guilty in relation to the company in question. However, the Companies Act also provides that any provision, whether contained in
the company&#146;s bye-laws or in a contract or arrangement between the company and the director or officer, indemnifying a director or officer against any liability which would attach to him in respect of his fraud or dishonesty will be
void.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The directors and officers of the Registrant are covered by directors&#146; and officers&#146; insurance policies
maintained by the Registrant.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Item 15.&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Recent Sales of Unregistered Securities</B></I></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left">


</DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As part of the Registrant&#146;s transition to a corporate structure, whereby some of the Registrant&#146;s partners
received the Registrant&#146;s Class A common shares and Class X common shares in lieu of their interests in the Accenture local business operations, the Registrant has:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="96%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;On April 15, 2001, issued an aggregate of 6,583,592 Class A
common shares to partners in Portugal and 60,434 Class A common shares to a partner in the Slovak Republic;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="96%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;On April 17, 2001, issued an aggregate of 5,323,210 Class A
common shares to partners in Argentina;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="96%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;On May 2, 2001, issued an aggregate of 4,189,621 Class A
common shares to partners in South Africa;</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="96%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;On May 15, 2001, issued an aggregate of 4,736,656 Class A
common shares to partners in Belgium, an aggregate of 4,339,459 Class A common shares to partners in Ireland, an aggregate of 2,973,039 Class A common shares to partners in Mexico, an aggregate of 7,365,277 common shares to partners in The
Netherlands and an aggregate of 87,654,292 Class A common shares to partners in the United Kingdom;</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="96%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;On May 25, 2001, issued an aggregate of 2,750,406 Class X
common shares to various individual partners; and</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="96%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;On May 31, 2001, issued an aggregate 809,264 Class A common
shares to a partner in India.</FONT></DIV>
</TD>
</TR>
</TABLE>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May 22, 2001, certain partners received 88,300,375 Class A common shares and 588,411,066 Class X common shares via a
liquidation payment upon dissolution of Accenture Holdings C.V., a Netherlands limited partnership which, prior to its dissolution, was the sole shareholder of the Registrant.</FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These Class A and Class X common shares have been issued in reliance on the exemption from registration contained in
Section 4(2) of the Securities Act on the basis that the transactions did not involve any public offering.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Item 16.&nbsp;&nbsp;&nbsp;&nbsp;<I>Exhibits and Financial Statement Schedules</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;<I>Exhibits.</I></B>&nbsp;&nbsp;&nbsp;&nbsp;The following is a complete list of exhibits filed as part
of this Registration Statement, which are incorporated herein:</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="615" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Exhibit
<BR>
Number</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Exhibit Description</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;1.1*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Underwriting Agreement.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;3.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Memorandum of Continuance of the Registrant, dated February 21, 2001.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;3.2</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Bye-laws of the Registrant.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;4.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Specimen Certificate for Registrant&#146;s Class A common shares.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;5.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Opinion of Appleby Spurling &amp; Kempe.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;9.1**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Voting Agreement, dated as of April 18, 2001, among the Registrant and the
<BR>
covered persons party thereto.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10.1**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Partner Matters Agreement, dated as of April 18, 2001, among the Registrant and
<BR>
the partners party thereto.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10.2**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Non-Competition Agreement, dated as of April 18, 2001, among the Registrant and
<BR>
certain employees.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10.3**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2001 Share Incentive Plan.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10.4**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2001 Employee Share Purchase Plan.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10.5</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Articles of Association of Accenture SCA.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10.6**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Accenture SCA Transfer Rights Agreement, dated as of April 18, 2001, among
<BR>
Accenture SCA and the covered persons party thereto.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10.7**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Non-Competition Agreement, dated as of April 18, 2001, among Accenture SCA and
<BR>
certain employees.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10.8**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Letter Agreement, dated April 18, 2001, between Accenture SCA and certain
<BR>
shareholders of Accenture SCA.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10.9</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Support Agreement, dated as of May 23, 2001, between the Registrant and
<BR>
Accenture Canada Holdings Inc.</FONT></TD>
</TR>
</TABLE>


<BR>


<BR>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Exhibit
<BR>
Number</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Exhibit Description</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;10.10**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Employment Agreement of Messrs. Forehand, James, Green, Wilson and McGrath.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">10.11</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Articles of Association of Accenture Canada Holdings Inc.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">10.12</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Exchange Trust Agreement by and between the Registrant and Accenture Canada
<BR>
Holdings Inc. and CIBC Mellon Trust Company, made as of May 23, 2001.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">10.13</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Letter Agreement, dated May 21, 2001, between the Registrant and Stichting
<BR>
Naritaweg I.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">10.14</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Letter Agreement, dated May 21, 2001, between the Registrant and Stichting
<BR>
Naritaweg II.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;21.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Subsidiaries of the Registrant.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;23.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Consent of PricewaterhouseCoopers LLP.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;23.2</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Consent of Appleby Spurling &amp; Kempe (included in Exhibit 5.1).</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;24.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Power of Attorney (contained on the signature pages to the registration statement).</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> * To be filed by amendment.</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">** Previously filed.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;<I>Financial Statement Schedules</I></B></FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>Item 17.&nbsp;&nbsp;&nbsp;&nbsp;<I>Undertakings</I></B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors,
officers and controlling persons of the Registrant pursuant to the provisions described in Item 14, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final
adjudication of such issue.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting
agreements certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery to each purchaser.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes that:</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="96%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;For purposes of determining any liability under the Securities
Act, the information omitted from the form of prospectus filed as part of this Registration Statement in reliance upon Rule 430A and contained in a form of prospectus filed by the Registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the
Securities Act shall be deemed to be part of this Registration Statement as of the time it was declared effective.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="96%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;For the purpose of determining any liability under the
Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>SIGNATURES</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on June 29, 2001.</FONT></DIV>

<DIV><FONT SIZE="4">&nbsp;</FONT></DIV>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="52%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="48%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">A<SMALL>CCENTURE </SMALL>
L<SMALL>TD</SMALL>
</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="7">&nbsp;</FONT></DIV>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="52%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">By:&nbsp;&nbsp;&nbsp;&nbsp;/<SMALL>S</SMALL>
/&nbsp;&nbsp;&nbsp;&nbsp;J<SMALL>OE </SMALL>
W. F<SMALL>OREHAND</SMALL>
</FONT></DIV>
</TD>
</TR>
</TABLE>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="56%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><U><HR SIZE=1 NOSHADE></U></FONT></DIV>
</TD>
</TR>
</TABLE>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="56%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="44%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Name:&nbsp;&nbsp;&nbsp;&nbsp; Joe W. Forehand</FONT></DIV>
</TD>
</TR>
</TABLE>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="56%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="44%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer</FONT></DIV>
</TD>
</TR>
</TABLE>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="56%" ALIGN="left" VALIGN="top"></TD>
<TD ALIGN="left" WIDTH="44%" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and Chairman of the Board</FONT></DIV>
</TD>
</TR>
</TABLE>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>


<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>POWER OF ATTORNEY</B></FONT></DIV>

<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Joe
W. Forehand, Harry L. You and Douglas G. Scrivner and each of them, as his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him in his name, place and stead, in any and all capacity, in connection
with this Registration Statement, including to sign and file in the name and on behalf of the undersigned as director or officer of the Registrant (i) any and all amendments or supplements (including any and all stickers and post-effective
amendments) to this Registration Statement, with all exhibits thereto, and other documents in connection therewith, and (ii) any and all additional registration statements, and any and all amendments thereto, relating to the same offering of
securities as those that are covered by this Registration Statement that are filed pursuant to Rule 462(b) promulgated under the Securities Act of 1933, as amended, with the Securities and Exchange Commission and any applicable securities exchange
or securities self-regulatory body, granting unto said attorney-in-fact and agents, and each of them full power and authority to do and perform each and every act and things requisite or necessary to be done in and about the premises, as fully to
all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or any of them, or their substitutes, any lawfully do or cause to be done by virtue
hereof.</FONT></DIV>

<DIV><FONT SIZE="3">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following
persons in the capacities and on the date indicated.</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Signature</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Title</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Date</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD COLSPAN=5 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=5><FONT SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/<SMALL>S</SMALL>
/&nbsp;&nbsp;&nbsp;&nbsp;J<SMALL>OE </SMALL>
W. F<SMALL>OREHAND</SMALL>
<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Joe W. Forehand</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Chief Executive Officer and
<BR>
Chairman of the Board
<BR>
(principal executive officer)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">June 29, 2001</FONT></TD>
</TR>
<TR>
<TD COLSPAN=5 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=5><FONT SIZE="5">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/<SMALL>S</SMALL>
/&nbsp;&nbsp;&nbsp;&nbsp;S<SMALL>TEPHAN </SMALL>
A. J<SMALL>AMES</SMALL>
<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Stephan A. James</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Chief Operating Officer and
<BR>
Director</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">June 29, 2001</FONT></TD>
</TR>
<TR>
<TD COLSPAN=5 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=5><FONT SIZE="5">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/<SMALL>S</SMALL>
/&nbsp;&nbsp;&nbsp;&nbsp;K<SMALL>ARL</SMALL>
-H<SMALL>EINZ </SMALL>
F<SMALL>L&#214;THER</SMALL>
<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Karl-Heinz Fl&#246;ther</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;Financial
<BR>
Services Global Market
<BR>
Unit and Director</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">June 29, 2001</FONT></TD>
</TR>
<TR>
<TD COLSPAN=5 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=5><FONT SIZE="5">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/<SMALL>S</SMALL>
/&nbsp;&nbsp;&nbsp;&nbsp;J<SMALL>OEL </SMALL>
P. F<SMALL>RIEDMAN</SMALL>
<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Joel P. Friedman</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Director</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">June 29, 2001</FONT></TD>
</TR>
</TABLE>


<BR>


<BR>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Signature</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Title</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Date</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD COLSPAN=5 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=5><FONT SIZE="5">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/<SMALL>S</SMALL>
/&nbsp;&nbsp;&nbsp;&nbsp;W<SMALL>ILLIAM </SMALL>
D. G<SMALL>REEN</SMALL>
<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>William D. Green</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Managing Partner&#151;
<BR>
Communications &amp; High
<BR>
Tech Global Market Unit
<BR>
and Director</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">June 29, 2001</FONT></TD>
</TR>
<TR>
<TD COLSPAN=5 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=5><FONT SIZE="5">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/<SMALL>S</SMALL>
/&nbsp;&nbsp;&nbsp;&nbsp;M<SMALL>ASAKATSU </SMALL>
M<SMALL>ORI</SMALL>
<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Masakatsu Mori</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Director</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">June 29, 2001</FONT></TD>
</TR>
<TR>
<TD COLSPAN=5 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=5><FONT SIZE="5">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/<SMALL>S</SMALL>
/&nbsp;&nbsp;&nbsp;&nbsp;D<SMALL>IEGO </SMALL>
V<SMALL>ISCONTI</SMALL>
<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Diego Visconti</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Director</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">June 29, 2001</FONT></TD>
</TR>
<TR>
<TD COLSPAN=5 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=5><FONT SIZE="5">&nbsp;</FONT></TD>
</TR>
</TABLE>

<TABLE ALIGN="center" WIDTH="614" CELLSPACING=0 CELLPADDING=0>
<TR><TD> </TD></TR>
<TR>
<TD COLSPAN=1 VALIGN="bottom" ALIGN="left"></TD>
<TR>
<TD COLSPAN=1><FONT SIZE="5">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/<SMALL>S</SMALL>
/&nbsp;&nbsp;&nbsp;&nbsp;J<SMALL>ACKSON </SMALL>
L. W<SMALL>ILSON</SMALL>
, J<SMALL>R</SMALL>
 .
<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Jackson L. Wilson, Jr.</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Corporate Development Officer,
<BR>
Managing General Partner&#151;
<BR>
Accenture Technology
<BR>
Ventures and Director</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">June 29, 2001</FONT></TD>
</TR>
<TR>
<TD COLSPAN=1><FONT SIZE="5">&nbsp;</FONT></TD>
</TR>
<TR><TD> </TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">/<SMALL>S</SMALL>
/&nbsp;&nbsp;&nbsp;&nbsp;H<SMALL>ARRY </SMALL>
L. Y<SMALL>OU</SMALL>
<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
</FONT><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Harry L. You</B></FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Chief Financial Officer
<BR>
(principal financial and
<BR>
accounting officer)</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">June 29, 2001</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>EXHIBIT INDEX</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>


<BR>

<TABLE ALIGN="center" WIDTH="615" CELLSPACING=0 CELLPADDING=0>
<TR>
<TH VALIGN="bottom" NOWRAP ALIGN="center"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Exhibit
<BR>
Number</B></FONT><FONT SIZE="1"><HR ALIGN="center" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
<TH><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
<TH VALIGN="bottom" NOWRAP ALIGN="left"><FONT SIZE="1" COLOR="#000000" FACE="'Times New Roman', Times"><B>Exhibit Description</B></FONT><FONT SIZE="1"><HR ALIGN="left" WIDTH="100%" SIZE="1" NOSHADE></FONT></TH>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;1.1*</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Underwriting Agreement.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;3.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Memorandum of Continuance of the Registrant, dated February 21, 2001.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;3.2</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Bye-laws of the Registrant.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;4.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Specimen Certificate for Registrant&#146;s Class A common shares.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;5.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Opinion of Appleby Spurling &amp; Kempe.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;9.1**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Voting Agreement, dated as of April 18, 2001, among the Registrant and the
<BR>
covered persons party thereto.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.1**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Partner Matters Agreement, dated as of April 18, 2001, among the Registrant and
<BR>
the partners party thereto.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.2**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Non-Competition Agreement, dated as of April 18, 2001, among the Registrant
<BR>
and certain employees.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.3**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2001 Share Incentive Plan.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.4**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">2001 Employee Share Purchase Plan.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.5</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Articles of Association of Accenture SCA.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.6**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Accenture SCA Transfer Rights Agreement, dated as of April 18, 2001, among
<BR>
Accenture SCA and the covered persons party thereto.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.7**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Non-Competition Agreement, dated as of April 18, 2001, among Accenture SCA
<BR>
and certain employees.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.8**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Letter Agreement, dated April 18, 2001, between Accenture SCA and certain
<BR>
shareholders of Accenture SCA.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.9</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Support Agreement, dated as of May 23, 2001, between the Registrant and
<BR>
Accenture Canada Holdings Inc.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.10**</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Employment Agreement of Messrs. Forehand, James, Green, Wilson and
<BR>
McGrath.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.11</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Articles of Association of Accenture Canada Holdings Inc.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.12</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Exchange Trust Agreement by and between the Registrant and Accenture Canada
<BR>
Holdings Inc. and CIBC Mellon Trust Company, made as of May 23, 2001.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.13</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Letter Agreement, dated May 21, 2001, between the Registrant and Stichting
<BR>
Naritaweg I.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;10.14</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Form of Letter Agreement, dated May 21, 2001, between the Registrant and Stichting
<BR>
Naritaweg II.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;21.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Subsidiaries of the Registrant.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;23.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Consent of PricewaterhouseCoopers LLP.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;23.2</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Consent of Appleby Spurling &amp; Kempe (included in Exhibit 5.1).</FONT></TD>
</TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;24.1</FONT></TD>
<TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Power of Attorney (contained on the signature pages to the registration statement).</FONT></TD>
</TR>
</TABLE>


<BR>
<DIV ALIGN="left"><HR WIDTH="10%" SIZE="1" NOSHADE></DIV>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">*</FONT></DIV>
</TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">To be filed by amendment.</FONT></DIV>
</TD>
</TR>
</TABLE>

<TABLE BORDER="0" WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">**</FONT></DIV>
</TD>
<TD WIDTH="98%" ALIGN="left" VALIGN="top"> <DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Previously filed.</FONT></DIV>
</TD>
</TR>
</TABLE>
 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>dex31.htm
<DESCRIPTION>MEMORANDUM OF CONTINUANCE OF ACCENTURE LTD
<TEXT>

<HTML>
<HEAD>
 <TITLE>MEMORANDUM OF CONTINUANCE OF ACCENTURE LTD</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">
<P><FONT SIZE="2">
<A NAME="TopOfPage"> </A>
</FONT></P>
<P ALIGN="right"><FONT SIZE="2">Exhibit 3.1 </FONT> </P>
<P ALIGN="CENTER"><FONT SIZE="2"><B><FONT FACE="Times New Roman">BERMUDA</FONT></B></FONT></P>
<P ALIGN="CENTER"><FONT SIZE="2"><B><FONT FACE="Times New Roman">THE COMPANIES ACT 1981</FONT></B></FONT></P>
<P ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2">MEMORANDUM OF CONTINUANCE OF</FONT></P>
<P ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2">COMPANY LIMITED BY SHARES</FONT></P>
<P ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2">(Section 132C(2))</FONT></P>
<P ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2">MEMORANDUM OF CONTINUANCE</FONT></P>
<P ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2">OF</FONT></P>
<P ALIGN="CENTER"><FONT SIZE="2"><B><FONT FACE="Times New Roman">ACCENTURE LTD</FONT></B></FONT></P>
<P ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2">(hereinafter referred to as &#147;<B>the Company</B>&#148;)</FONT></P>
<OL> <LI><FONT FACE="Times New Roman" SIZE="2"> The liability of the members of the Company is limited to the amount (if any) for the time being unpaid on the shares respectively held by them.
<BR>

<BR>
</FONT></LI>
<LI><FONT FACE="Times New Roman" SIZE="2"> The Company is an exempted company as defined by the Companies Act 1981.
<BR>

<BR>
</FONT></LI>
<LI><FONT FACE="Times New Roman" SIZE="2">The authorised share capital of the Company is US$30,000 divided into 30,000 shares of US$1.00 each. The minimum share capital of the company is US$12,000.
<BR>

<BR>
</FONT></LI>
<LI><FONT FACE="Times New Roman" SIZE="2">The Company shall not have power to hold land situated in Bermuda.
<BR>

<BR>
</FONT></LI>
<LI><FONT FACE="Times New Roman" SIZE="2">Details of Incorporation:
<BR>

<BR>
The Company was incorporated in Curacao under the Commercial Code of the Netherlands Antilles, on 8 December 1995 under the name A.C. Technology (ACT) N.V.</FONT> <FONT FACE="Times New Roman" SIZE="2">
<BR>

<BR>
</FONT></LI>
<LI><FONT FACE="Times New Roman" SIZE="2">The objects of the Company from the date of continuance are:-</FONT> </LI>
</OL>
<BLOCKQUOTE>
<TABLE WIDTH="80%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="5%"><FONT FACE="Times New Roman" SIZE="2">6.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">to carry on business as a holding company and to acquire and hold shares, stocks, debenture stock, bonds, mortgages, obligations and securities and interests of any kind issued or guaranteed by
any company, corporation or undertaking of whatever nature and wherever constituted or carrying on business, whether in Bermuda or elsewhere, and to vary, transpose, dispose of or otherwise deal with, from time to time as may be considered
expedient, any of the Company&#146;s investments for the time being;</FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">6.2</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">to acquire any such shares and other securities as are mentioned in the preceding paragraph by subscription, syndicate participation, tender, purchase, exchange or otherwise and to subscribe for
the same, either conditionally or otherwise, and to guarantee the subscription thereof and to exercise and enforce all rights and powers conferred by or incident to the ownership thereof;</FONT></TD>
<TD>&nbsp;</TD>
</TR>
</TABLE>
</BLOCKQUOTE>
<P><FONT FACE="Times New Roman" SIZE="2"> </FONT></P>
<BLOCKQUOTE>
<TABLE WIDTH="80%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD><FONT SIZE="2">6.3</FONT></TD>
<TD><FONT FACE="Times New Roman" SIZE="2"> to co-ordinate the administration, policies, management, supervision, control, research, planning, trading and any and all other activities of, and to act as financial advisers and consultants to, any
company or companies now or hereafter incorporated or acquired which may be or may become a group company (which expression, in this and the next following paragraph, means a company, wherever incorporated, which is or becomes a holding company or a
subsidiary of, or affiliated with, the Company within the meanings respectively assigned to those terms in The Companies Act 1981 of Bermuda) or, with the prior written approval of the Minister of Finance of Bermuda, to any company or companies now
or hereafter incorporated or acquired (which are not group companies) with which the Company may be or may become associated;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD><FONT SIZE="2"></FONT></TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT SIZE="2">6.4</FONT></TD>
<TD><FONT FACE="Times New Roman" SIZE="2">to provide financing and financial investment, management and advisory services to any group company, which shall include but not be limited to granting or providing credit and financial accommodation,
lending and making advances with or without interest to any group company and lending to or depositing with any bank funds or other assets to provide security (by way of mortgage, charge, pledge, lien or otherwise) for loans or other forms of
financing granted to such group company by such bank; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD><FONT SIZE="2"></FONT></TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT SIZE="2">6.5</FONT></TD>
<TD><FONT FACE="Times New Roman" SIZE="2">to acquire by purchase or otherwise and hold, sell, dispose of and deal in real property situated outside Bermuda and the Netherlands Antilles and in personal property of all kinds wheresoever situated;
and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD><FONT SIZE="2"></FONT></TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT SIZE="2">6.6</FONT></TD>
<TD><FONT FACE="Times New Roman" SIZE="2"> to enter into any guarantee, contract of indemnity or suretyship and to assure, support or secure with or without consideration or benefit the performance of any obligations of any person or persons and to
guarantee the fidelity of individuals filling or about to fill situations of trust or confidence;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">Provided that the Company shall not be deemed to have the power to act as executor or administrator, or as trustee, except in connection with the issue of bonds and debentures by the Company or
any group company or in connection with a pension scheme for the benefit of employees or former employees of the Company or a group company or their respective predecessors, or the dependants or connections of such employees or former
employees.</FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
</TABLE>
</BLOCKQUOTE>
<P><FONT FACE="Times New Roman" SIZE="2">Signed by a duly authorised director in the presence of at least one witness attesting the signature thereof:-</FONT></P>
<TABLE WIDTH="84%" BORDER="0">
<TR>
<TD WIDTH="51%" VALIGN="top">
<P><U><FONT SIZE="2">/s/ Michael Emmons</FONT></U>
<BR>
<FONT FACE="Times New Roman" SIZE="2">Director &nbsp;&nbsp;</FONT> </P>
</TD>
<TD WIDTH="49%" VALIGN="top">
<P><U><FONT SIZE="2">/s/ C.A. Atwood</FONT></U><FONT SIZE="2">
<BR>
</FONT> <FONT FACE="Times New Roman" SIZE="2">Witness </FONT> </TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2">&nbsp;</FONT><FONT FACE="Times New Roman" SIZE="2">Dated: February 21, &nbsp;2001</FONT></P>
<P><FONT SIZE="2"> </FONT></P>
<P>
<A NAME="TopOfPage"> </A>
&nbsp;</P>
<P ALIGN="CENTER"><B><FONT FACE="Times New Roman">THE COMPANIES ACT 1981</FONT></B></P>
<UL> <UL> <UL> <UL>
<P ALIGN="center"><B><FONT FACE="Times New Roman">FIRST SCHEDULE &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(section 11(1))</FONT></B></P>
</UL>
</UL>
</UL>
</UL>
<TABLE WIDTH="80%" BORDER="0" CELLSPACING="0" CELLPADDING="0" ALIGN="center">
<TR>
<TD COLSPAN="3"> <UL> <UL> <UL> <UL>
<P><B><FONT FACE="Times New Roman"></FONT></B></P>
</UL>
</UL>
</UL>
</UL>

<P><FONT FACE="Times New Roman">A company limited by shares, or other company having a share capital, may exercise all or any of the following powers subject to any provision of law or its memorandum-</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(1)<I></I></FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman"><I>[repealed by 1992:51]</I></FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(2)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to acquire or undertake the whole or any part of the business, property and liabilities of any person carrying on any business that the company is authorized to carry on;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(3)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to apply for, register, purchase, lease, acquire, hold, use, control, licence, sell, assign or dispose of patents, patent rights, copyrights, trade marks, formulae, licences, inventions, processes, distinctive marks
and similar rights;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(4)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to enter into partnership or into any arrangement for sharing of profits, union of interests, co-operation, joint venture, reciprocal concession or otherwise with any person carrying on or engaged in or about to
carry on or engage in any business or transaction that the company is authorized to carry on or engage in or any business or transaction capable of being conducted so as to benefit the company;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(5) </FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to take or otherwise acquire and hold securities in any other body corporate having objects altogether or in part similar to those of the company or carrying on any business capable of being conducted so as to
benefit the company;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(6)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">subject to section 96 to lend money to any employee or to any person having dealings with the company or with whom the company proposes to have dealings or to any other body corporate any of whose shares are held by
the company;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(7)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to apply for, secure or acquire by grant, legislative enactment, assignment, transfer, purchase or otherwise and to exercise, carry out and enjoy any charter, licence, power, authority, franchise, concession, right
or privilege, that any government or authority or any body corporate or other public body may be empowered to grant, and to pay for, aid in and contribute toward carrying it into effect and to assume any liabilities or obligations incidental
thereto;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(8)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to establish and support or aid in the establishment and support of associations, institutions, funds or trusts for the benefit of employees or former employees of the company or its predecessors, or the dependants
or connections of such employees or former employees, and grant pensions and allowances, and make payments towards insurance or for any object similar to those set forth in this paragraph, and to subscribe or guarantee money for charitable,
benevolent, educational or religious objects or for any exhibition or for any public, general or useful objects;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(9)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to promote any company for the purpose of acquiring or taking over any of the property and liabilities of the company or for any other purpose that may benefit the company;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(10)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>
<P><FONT FACE="Times New Roman">to purchase, lease, take in exchange, hire or otherwise acquire any personal property and any rights or privileges that the company considers necessary or convenient for the purposes of its business;</FONT></P>

<P><FONT FACE="Times New Roman"></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(11)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to construct, maintain, alter, renovate and demolish any buildings or works necessary or convenient for its objects; </FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(12)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to take land in Bermuda by way of lease or letting agreement for a term not exceeding fifty years, being land <I>bona fide</I> required for the purposes of the business of the company and with the consent of the
Minister granted in his discretion to take land in Bermuda by way of lease or letting agreement for a term not exceeding twenty-one years in order to provide accommodation or recreational facilities for its officers and employees and when no longer
necessary for any of the above purposes to terminate or transfer the lease or letting agreement;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(13) </FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">except to the extent, if any, as may be otherwise expressly provided in its incorporating Act or memorandum and subject to this Act every company shall have power to invest the moneys of the Company by way of
mortgage of real or personal property of every description in Bermuda or elsewhere and to sell, exchange, vary, or dispose of such mortgage as the company shall from time to time determine;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(14)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to construct, improve, maintain, work, manage, carry out or control any roads, ways, tramways, branches or sidings, bridges, reservoirs, watercourses, wharves, factories, warehouses, electric works, shops, stores and
other works and conveniences that may advance the interests of the company and contribute to, subsidize or otherwise assist or take part in the construction, improvement, maintenance, working, management, carrying out of control thereof;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(15) </FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to raise and assist in raising money for, and aid by way of bonus, loan, promise, endorsement, guarantee or otherwise, any person and guarantee the performance or fulfilment of any contracts or obligations of any
person, and in particular guarantee the payment of the principal of and interest on the debt obligations of any such person;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(16)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to borrow or raise or secure the payment of money in such manner as the company may think fit;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(17)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to draw, make, accept, endorse, discount, execute and issue bills of exchange, promissory notes, bills of lading, warrants and other negotiable or transferable instruments;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(18)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">when properly authorized to do so, to sell, lease, exchange or otherwise dispose of the undertaking of the company or any part thereof as an entirety or substantially as an entirety for such consideration as the
company thinks fit;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(19)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to sell, improve, manage, develop, exchange, lease, dispose of, turn to account or otherwise deal with the property of the company in the ordinary course of its business;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(20)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to adopt such means of making known the products of the company as may seem expedient, and in particular by advertising, by purchase and exhibition of works of art or interest, by publication of books and periodicals
and by granting prizes and rewards and making donations;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(21)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to cause the company to be registered and recognized in any foreign jurisdiction, and designate persons therein according to the laws of that foreign jurisdiction or to represent the company and to accept service for
and on behalf of the company of any process or suit;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(22)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to allot and issue fully-paid shares of the company in payment or part payment of any property purchased or otherwise acquired by the company or for any past services performed for the company;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(23)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to distribute among the members of the company in cash, kind, specie or otherwise as may be resolved, by way of dividend, bonus or in any other manner considered advisable, any property of the company, but not so as
to decrease the capital of the company unless the distribution is made for the purpose of enabling the company to be dissolved or the distribution, apart from this paragraph, would be otherwise lawful;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(24)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to establish agencies and branches;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(25)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to take or hold mortgages; hypothecs, liens and charges to secure payment of the purchase price, or of any unpaid balance of the purchase price, of any part of the property of the company of whatsoever kind sold by
the company, or for any money due to the company from purchasers and others and to sell or otherwise dispose of any such mortgage, hypothec, lien or charge;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(26) </FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to pay all costs and expenses of or incidental to the incorporation and organization of the company;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(27) </FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to invest and deal with the moneys of the company not immediately required for the objects of the company in such manner as may be determined;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(28)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to do any of the things authorized by this Schedule and all things authorized by its memorandum as principals, agents, contractors, trustees or otherwise, and either alone or in conjunction with others;</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman">(29)</FONT></TD>
<TD WIDTH="20">&nbsp;</TD>
<TD><FONT FACE="Times New Roman">to do all such other things as are incidental or conductive to the attainment of the objects and the exercise of the powers of the company.</FONT></TD>
</TR>
<TR>
<TD VALIGN="top">&nbsp;</TD>
<TD WIDTH="20">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman">Every company may exercise its powers beyond the boundaries of Bermuda to the extent to which the laws in force where the powers are sought to be exercised permit.</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<P><FONT FACE="Times New Roman"> </FONT></P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P><FONT FACE="Times New Roman"> </FONT></P>
<P><FONT FACE="Times New Roman"> </FONT></P>
<P>&nbsp;</P>

<P>&nbsp; </P>
 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.2
<SEQUENCE>3
<FILENAME>dex32.htm
<DESCRIPTION>BYE-LAWS OF THE REGISTRANT
<TEXT>

<HTML>
<HEAD>
 <TITLE>BYE-LAWS OF THE REGISTRANT</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">
<P ALIGN="left"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></P>
<P ALIGN="CENTER"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><FONT SIZE="3">BYE-LAWS</FONT></B></FONT></P>
<P ALIGN="CENTER"><FONT SIZE="3" FACE="Times New Roman, Times, serif"><B> OF</B></FONT></P>
<P ALIGN="CENTER"><FONT SIZE="3" FACE="Times New Roman, Times, serif"><B> ACCENTURE LTD</B></FONT></P>
<P ALIGN="center"> <FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>(effective &#149; 2001)</B></FONT></P>
<P ALIGN="center">&nbsp;</P>
<P ALIGN="center">&nbsp;</P>
<P ALIGN="center">&nbsp;</P>
<P ALIGN="center">&nbsp;</P>
<P ALIGN="center">&nbsp;</P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> Appleby Spurling & Kempe
<BR>
Cedar House
<BR>
41 Cedar Avenue
<BR>
Hamilton HM 12
<BR>
Bermuda</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>TABLE OF CONTENTS</B></FONT></P>
<TABLE WIDTH="690" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD>&nbsp;</TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Page</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#a468e33">INTERPRETATION</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">3</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#b468e33">REGISTERED OFFICE</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">6</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#c468e33">SHARE RIGHTS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">8</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#d468e33">VARIATION OF RIGHTS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">10</FONT></DIV>
</TD>
</TR>
<TR>
<TD HEIGHT="16"><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#e468e33">SHARES</A>
</FONT></TD>
<TD HEIGHT="16"> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">10</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#f468e33">INCREASE OF CAPITAL</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">11</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#g468e33">ALTERATION OF CAPITAL</A>
</FONT> </TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">11</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#h468e33">REDUCTION OF CAPITAL</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">12</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#i468e33">CERTIFICATES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">13</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#j468e33">LIEN</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">14</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#k468e33">CALLS ON SHARES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">15</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#l468e33">FORFEITURE OF SHARES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">16</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#m468e33">REGISTER OF SHAREHOLDERS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">17</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#n468e33">REGISTER OF DIRECTORS AND OFFICERS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">18</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#o468e33">TRANSFER OF SHARES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">18</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#p468e33">TRANSMISSION OF SHARES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">19</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#q468e33">GENERAL MEETINGS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">20</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#r468e33">NOTICE OF GENERAL MEETINGS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">20</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#s468e33">PROCEEDINGS AT GENERAL MEETINGS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">21</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#t468e33">VOTING</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">24</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#u468e33">PROXIES AND CORPORATE REPRESENTATIVES</A>
</FONT> </TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">25</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#v468e33">AMALGAMATIONS, DISCOUTINUANCE AND SALES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">28</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#w468e33">APPOINTMENT AND REMOVAL OF DIRECTORS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">28</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#x468e33">RESIGNATION AND DISQUALIFICATION OF DIRECTORS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">31</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#y468e33">DIRECTORS' REMUNERATION AND EXPENSES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">32</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#z468e33">DIRECTORS' INTERESTS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">32</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#aa468e33">POWERS OF THE BOARD</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">33</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ab468e33">DELEGATION OF THE BOARD'S POWERS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">35</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ac468e33">PROCEEDINGS OF THE BOARD</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">36</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ad468e33">OFFICERS</A>
</FONT> </TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">37</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ae468e33">MINUTES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">38</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#af468e33">SECRETARY AND RESIDENT REPRESENTATIVE</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">38</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ag468e33">THE SEAL</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">39</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ah468e33">DIVIDENDS AND OTHER PAYMENTS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">39</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ai468e33">RESERVES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">41</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#aj468e33">CAPITALISATION OF RESERVES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">41</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ak468e33">RECORD DATES</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">43</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#al468e33">ACCOUNTING RECORDS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">44</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#am468e33">AUDITORS</A>
</FONT> </TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">44</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#an468e33">UNTRACED SHAREHOLDERS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">44</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ao468e33">SERVICE OF NOTICES AND OTHER DOCUMENTS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">45</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ap468e33">DESTRUCTION OF DOCUMENTS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">46</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#aq468e33">WINDING UP</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">48</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#ar468e33">EXEMPTION AND INDEMNIFICATION OF OFFICERS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">48</FONT></DIV>
</TD>
</TR>
<TR>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<A HREF="#as468e33">ALTERATION OF BYE-LAWS</A>
</FONT></TD>
<TD> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">49</FONT></DIV>
</TD>
</TR>
</TABLE>
<P ALIGN="left">&nbsp;</P>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><FONT SIZE="3">Bye-laws</FONT></B></FONT></P>
<P ALIGN=CENTER><FONT SIZE="3" FACE="Times New Roman, Times, serif"><B>of</B></FONT></P>
<P ALIGN=CENTER><FONT SIZE="3" FACE="Times New Roman, Times, serif"><B>Accenture Ltd</B></FONT></P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="a468e33"></A>
INTERPRETATION</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">1.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In these Bye-Laws, unless the context otherwise requires:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Bermuda</B>&quot; means the Islands of Bermuda;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Board</B>&quot; means the board of directors for the time being of the Company;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Bye-Laws</B>&quot; means these bye-laws in their present form or as from time to time amended;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Class A Common Shares</B>&quot; means class A common shares of par value US$0.0000225 per share (or such other par value as may result from any reorganisation of capital)
in the capital of the Company, having the rights and being subject to the limitations set out in these Bye-laws;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Class X Common Shares</B>&quot; means redeemable class X common shares of par value US$0.0000225 per share (or such other par value as may result from any reorganisation of
capital) in the capital of the Company, having the rights and being subject to the limitations set out in these Bye-laws.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>clear days</B>&quot; means, in relation to the period of a notice, that period excluding the day on which the notice is given or served, or deemed to be given or served,
and the day for which it is given or on which it is to take effect;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Companies Acts</B>&quot; means every Bermuda statute, regulation and order from time to time in force concerning companies insofar as the same apply to the
Company;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Company</B>&quot; means Accenture Ltd, an exempted company registered in Bermuda with registration number EC 30090 (following its continuance into Bermuda on 21 February
2001) ;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Director</B>&quot; means a director for the time being of the Company;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Employee Covered Shares</B>&quot;<B> </B>has the same meaning as is given to that term in the Voting Agreement;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Group Company</B>&quot; means the Company, any holding company of the Company and any subsidiary of the Company or of any such holding company;</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Officer</B>&quot; means a Director, Secretary, or other officer of the Company appointed pursuant to Bye-Law 105, but does not include any person holding the office of
auditor in relation to the Company;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Paid Up</B>&quot; means paid up or credited as paid up;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Person entitled by Transmission</B>&quot; means a person whose entitlement to a share in consequence of the death or bankruptcy of a Shareholder or of any other event
giving rise to its transmission by operation of law has been noted in the Register;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Redemption Date</B>&quot; means the date specified in a notice served by the Company on a Class X Common Shareholder under Bye-law 4.3(d);</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Register</B>&quot; means the register of shareholders of the Company and, except in Bye-Laws 38.1, 38.2 and 38.3, includes any branch register;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Registered Office</B>&quot; means the registered office for the time being of the Company;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Resident Representative</B>&quot; means the person or, if permitted by the Companies Acts, the company appointed to perform the duties of resident representative of the
Company as set out in the Companies Acts (and includes any assistant or deputy resident representative appointed by the Board);</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Resolution</B>&quot; means a resolution of the Shareholders or, where required, of a separate class or separate classes of Shareholders, adopted in general meeting or
passed in accordance with the provisions of these Bye-Laws;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Seal</B>&quot; means the common seal of the Company and includes any duplicate seal;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Secretary</B>&quot; means the secretary of the Company or, if there are joint secretaries, any of the joint secretaries and includes a deputy or assistant secretary and any
person appointed by the Board to perform any of the duties of the secretary;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Shareholder</B>&quot; means a holder of a share (of any class) of the Company;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Share</B>&quot; means any share in the capital of the Company;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Subsidiary</B>&quot; and <B>&quot;holding company&quot; </B>have the same meanings as in section 86 of the Companies Act 1981, except that references in that section to a
company shall include any body corporate or other legal entity, whether incorporated or established in Bermuda or elsewhere;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Undesignated Shares</B>&quot; means the 2,000,000,000 shares of par value US$0.0000225 per share (or such other par value as may result from any reorganisation of capital)
in the capital of the Company, having such rights and being subject to such limitations as may be attached to them pursuant to Bye-law 5.3;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>US dollars</B>&quot; or &quot;<B>US$</B>&quot; means United States dollars; and</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&quot;<B>Voting Agreement</B>&quot; means the voting agreement relating to shares in the Company to be dated as of 18 April 2001 and entered into among the Company and the covered
persons from time to time party to that agreement.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">For the purposes of these Bye-Laws, unless the context otherwise requires:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">a corporation shall be deemed to be present in person at a meeting if its representative, duly authorised pursuant to these Bye-Laws, is present;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">words importing only the singular number include the plural number and vice versa;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">words importing only one gender include the other genders;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">references to a company include any body corporate or other legal entity, whether incorporated or established in Bermuda or elsewhere;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.5</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">references to a person include any company, partnership or other body of persons, whether corporate or not, any trust and any government, governmental body or agency or public
authority, whether of Bermuda or elsewhere;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.6</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">references to writing include typewriting, printing, lithography, photography, electronic mail and other modes of representing or reproducing words in a legible and non-transitory
form;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.7</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">a reference to anything being done by electronic means includes its being done by means of any electronic or other communications equipment or facilities and references to any
communication being delivered or received, or being delivered or received at a particular place, include the transmission of an electronic or similar communication, and to a recipient identified in such manner or by such means, as the Board may from
time to time approve or prescribe, either generally or for a particular purpose;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.8</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> references to a signature or to anything being signed or executed include such forms of electronic signature or other means of verifying the authenticity of an electronic or
similar communication as the Board may from time to time approve or prescribe, either generally or for a particular purpose;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.9</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">references to a dividend include a distribution paid in respect of shares to Shareholders out of contributed surplus or any other distributable reserve;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.10</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">any words or expressions defined in the Companies Acts, if not otherwise defined in or given a particular meaning by these Bye-Laws, have the same meaning in these Bye-Laws, except
that the definition of &quot;attorney&quot; shall not apply;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.11</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">any reference to any statute or statutory provision (whether of Bermuda or elsewhere) includes a reference to any modification or re-enactment of it for the time being in force and
to every rule, regulation or order made under it (or under any such modification or re-enactment) and for the time being in force and any reference to any rule, regulation or order made under any such statute or statutory provision includes a
</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">reference to any modification or replacement of such rule, regulation or order for the time being in force; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.12</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">references to shares carrying the general right to vote at general meetings of the Company are to those shares (of any class or series) carrying the right to vote, other than shares
which entitle the holders to vote only in limited circumstances or upon the occurrence of a specified event or condition (whether or not those circumstances have arisen or that event or condition has occurred). </FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="b468e33"></A>
REGISTERED OFFICE</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">3.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Registered Office shall be at such place in Bermuda as the Board from time to time decides.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>SHARE CAPITAL</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">4.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The authorised share capital of the Company at the date of adoption of these Bye-laws is US$517,500 divided into 20,000,000,000 Class A Common Shares, 1,000,000,000 Class X Common
Shares and 2,000,000,000 Undesignated Shares.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">4.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B><U>Class A Common Shares</U></B></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Class A Common Shares shall entitle the holders thereof to the following rights :-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">as regards dividend :-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">after making all necessary provisions, where relevant, for payment of any preferred dividend in respect of any preference shares in the Company then outstanding, the Company shall
apply any profits or reserves which the Directors resolve to distribute in paying such profits or reserves to the holders of the Class A Common Shares in respect of their holdings of such shares pari passu and pro rata to the number of Class A
Common Shares held by each of them;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">as regards capital :-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">on a return of assets on liquidation, reduction of capital or otherwise, the holders of the Class A Common Shares shall be entitled to be paid the surplus assets of the Company
remaining after payment of its liabilities (subject to the rights of the holders of any preferred shares in the Company then in issue having preferred rights on a return of capital) in respect of their holdings of Class A Common Shares pari passu
and pro rata to the number of Class A Common Shares held by each of them;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">as regards voting in general meetings :-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the holders of the Class A Common Shares shall be entitled to receive notice of, and to attend and vote at, general meetings of the Company; every holder of Class A Common Shares
present in person or by proxy shall have one vote</FONT></TD>
</TR>
</TABLE>

<P ALIGN=left></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">for each Class A Common Share held by him (and, except as otherwise provided by the Companies Acts or these Bye-laws, the holders of Class A Common Shares and Class X Common Shares
shall vote as a single class).</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">4.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B><U>Class X Common Shares</U></B></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Class X Common Shares shall entitle the holders thereof to the following rights and will be subject to the following restrictions :-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">as regards dividend:-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the holders of Class X Common Shares will have no right to receive any dividend or distribution in respect of their holdings of Class X Common Shares;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">as regards capital:-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">on a return of assets on liquidation, reduction of capital or otherwise, the holders of the Class X Common Shares will not be entitled to any payment out of the surplus assets of
the Company in respect of their holdings of Class X Common Shares;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">as regards voting in general meetings:-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the holders of the Class X Common Shares shall be entitled to receive notice of, and to attend and vote at, general meetings of the Company; every holder of Class X Common Shares
present in person or by proxy shall have one vote for each Class X Common Share held by him (and, except as otherwise provided by the Companies Acts or these Bye-laws, the holders of Class A Common Shares and Class X Common Shares shall vote as a
single class);</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(d)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">as regards redemption :-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(i)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">subject as provided in this Bye-law 4.3(d), any Class X Common Shares may, at the option of the Company, at any time (subject to the requirements of the Companies Acts) be redeemed
by the Company;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(ii)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">if the Company exercises its right under this Bye-law 4.3(d) it will, within 30 days of the Redemption Date, notify the Class X Common Shareholder in writing of the date of
completion of the redemption, the number of Class X Common Shares held by him which have been redeemed and of his right to claim a redemption payment under paragraph (iii);</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">(iii)</FONT></P>
</TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(subject to delivery of any share certificate as referred to in paragraph (iv) below) the Company will, within 30 days of receipt by it from the Shareholder of a written request for
payment, (subject to paragraph (v) below) pay to such holder or, in the case of joint holders, to the holder whose name stands first in the register of members in respect of such </FONT></TD>
</TR>
</TABLE>

<P ALIGN=left></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">shares, in respect of each Class X Common Share which has been redeemed the par value of that share;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(iv)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the holder of any Class X Common Shares which have been redeemed shall, within 30 days of receipt by him of the notice referred to in paragraph (ii), deliver to the Company at its
Registered Office (or such other place as the Company directs) any certificates for the Class X Common Shares held by him which have been redeemed. If relevant, the Company will issue to the Shareholder a new share certificate for any unredeemed
Class X Common Shares held by that shareholder); </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(v)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">if a redemption of Class X Common Shares under this bye-law 4.3(d) would otherwise result in the Shareholder being entitled to receive a redemption payment of a fractional part of
one cent of a US dollar, then the amount of the payment will be rounded up to the nearest whole cent; </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(vi)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the receipt of the registered holder or, in the case of joint holders, the holder whose name stands first in the register of members for the time being of Class X Common Shares
being redeemed for the monies payable on redemption of such shares shall constitute an absolute discharge to the Company in respect thereof; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(vii)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">any redemption payment which is uncollected for a period of 1 year from the date of issue by the Company of the notice relating to it under paragraph (ii) above shall be forfeited
and will revert to the Company;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(e)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">as regards transfer:-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Class X Common Shares are not transferable by their holders, unless the Class X Common Shareholder has received the prior written consent of the Company to the proposed transfer to
the proposed transferee; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(f)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">as regards certificates:-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">unless the Board resolves otherwise (either generally or in any particular case or cases) holders of Class X Common Shares will not be entitled to receive a share certificate in
respect of any Class X Common Shares held by him.</FONT></TD>
</TR>
</TABLE>
<P ALIGN=center><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="c468e33"></A>
SHARE RIGHTS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the Companies Acts and to the rights conferred on the holders of any other class of shares, any share in the Company may be issued with or have attached to it such
preferential, deferred, qualified or special rights, privileges or conditions as the Company may by Resolution decide or, if no such Resolution is in effect or insofar as the Resolution does not make specific provision, as the Board may from time to
time determine.</FONT></TD>
</TR>
</TABLE>

<P ALIGN=left></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Without limiting the foregoing and subject to the Companies Acts, the Company may issue preference shares (including any preference shares created pursuant to Bye-law 5.3) which (i)
are liable to be redeemed on the happening of a specified event or events or on a given date or dates and/or (ii) are liable to be redeemed at the option of the Company and/or the holder. The terms and manner of redemption of any redeemable shares
created pursuant to Bye-law 5.3 shall be as the Board may by resolution determine before the allotment of such shares and the terms and manner of redemption of any other redeemable preference shares shall be either (i) as the Company may by
Resolution determine or (ii) insofar as the Board is so authorised by any Resolution, as the Board may by resolution determine, in either case, before the allotment of such shares. A copy of any such Resolution or resolution of the Board for the
time being in force shall be attached as an appendix to (but shall not form part of) these Bye-laws.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The rights attaching to the Undesignated Shares shall be as follows :</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.3.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">each Undesignated Share shall have attached to it such preferred, qualified or other special rights, privileges and conditions and be subject to such restrictions, whether in regard
to dividend, return of capital, redemption, conversion into Class A Common Shares or voting or otherwise, as the Board may determine on or before its allotment;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.3.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Board may allot the Undesignated Shares in more than one series and, if it does so, may name and designate each series in such manner as it deems appropriate to reflect the
particular rights and restrictions attached to that series, which may differ in all or any respects from any other series of Undesignated Shares;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.3.3</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> the particular rights and restrictions attached to any Undesignated Share shall be recorded in a resolution of the Board. The Board may at any time before the allotment of any
Undesignated Share by further resolution in any way amend such rights and restrictions or vary or revoke its designation. A copy of any such resolution or amending resolution for the time being in force shall be annexed as an appendix to (but shall
not form part of) these Bye-laws; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.3.4</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Board shall not attach to any Undesignated Share any rights or restrictions which would alter or abrogate any of the special rights attached to any other class of series of
shares for the time being in issue without such sanction as is required for any alteration or abrogation of such rights, unless expressly authorised to do so by the rights attaching to or by the terms of issue of such shares.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The terms of any redeemable preference shares (including any redeemable preference shares created pursuant to Bye-law 5.3) may provide for the whole or any part of the amount due on
redemption to be paid or satisfied otherwise than in cash, to the extent permitted by the Companies Acts.</FONT></TD>
</TR>
</TABLE>

<P ALIGN=left></P>
<P ALIGN=center><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="d468e33"></A>
VARIATION OF RIGHTS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">6.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the Companies Acts, all or any of the special rights for the time being attached to any class of shares for the time being in issue may, unless otherwise expressly
provided in the rights attaching to or by the terms of issue of the shares of that class, from time to time (whether or not the Company is being wound up), be altered or abrogated with the consent in writing of the holders of not less than 50 per
cent. of all of the votes capable of being cast at the relevant time at a separate general meeting of the holders of the issued shares of that class or with the sanction of a Resolution passed at a separate general meeting of the holders of shares
of that class by a majority of not less than 50 per cent. of the votes cast. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">6.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">All the provisions of these Bye-Laws relating to general meetings of the Company shall apply <I>mutatis mutandis</I> to any separate general meeting of any class of Shareholders,
except that the necessary quorum shall be two or more Shareholders present in person or by proxy together holding or representing a majority of the issued shares of the relevant class; provided that, if the relevant class of Shareholders has only
one Shareholder, one Shareholder present in person or by proxy shall constitute the necessary quorum.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">
<P ALIGN=left><FONT FACE="Times New Roman, Times, serif" SIZE="2">7.</FONT></P>
</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The special rights conferred upon the holders of any shares or class of shares shall not, unless otherwise expressly provided in the rights attaching to or the terms of issue of
such shares, be deemed to be altered or abrogated by (i) the creation or issue of further shares ranking <I>pari passu </I>with them, (ii) the creation or issue for full value (as determined by the Board) of further shares ranking as regards
participation in the profits or assets of the Company or otherwise in priority to them or (iii) the purchase or redemption by the Company of any of its own shares.</FONT></TD>
</TR>
</TABLE>
<P ALIGN=center><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="e468e33"></A>
SHARES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">8.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the other provisions of these Bye-Laws, the unissued shares of the Company (whether forming part of the original share capital or any increased capital) shall be at the
disposal of the Board, which may offer, allot, grant options or other rights over or otherwise deal with or dispose of them to such persons, at such times and for such consideration and generally on such terms and conditions as the Board may from
time to time determine.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">8.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Shares may be issued in fractional denominations and in such event the Company shall deal with such fractions to the same extent as its whole shares, so that a share in a fractional
denomination shall have, in proportion to the fraction of a whole share that it represents, all the rights of a whole share, including (but without limiting the generality of the foregoing) the right to vote, to receive dividends and distributions
and to participate in a winding-up.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">9. </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may, in connection with the issue of any shares, exercise all powers of paying commissions and brokerages conferred or permitted by law.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">10.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the Companies Acts, the Company may purchase its own shares and the Board may (without the sanction of a Resolution) authorise any exercise of the</FONT></TD>
</TR>
</TABLE>

<P ALIGN=left></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Company's power to purchase its own shares, whether in the market, by tender or by private agreement, at such prices (whether at par or above or below par) and otherwise on such
terms and conditions as the Board may from time to time determine. The whole or any part of the amount payable on any such purchase may be paid or satisfied otherwise than in cash, to the extent permitted by the Companies Acts.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">
<P ALIGN=left><FONT FACE="Times New Roman, Times, serif" SIZE="2">11.</FONT></P>
</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Except only as otherwise provided in these Bye-Laws, as ordered by a court of competent jurisdiction or as otherwise required by law, the Company shall be entitled to treat the
registered holder of any share (or any fractional part of a share) as the absolute owner of it and accordingly no person shall be recognised by the Company as holding any share (or any fractional part of a share) upon trust, and the Company shall
not be bound by or required in any way to recognise (even when having notice of it) any equitable, contingent, future or partial interest or other right in any share (or any fractional part of a share) except an absolute right to the entirety of the
share or to the fractional part of a share in the registered holder of it.</FONT></TD>
</TR>
</TABLE>
<P ALIGN=center><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="f468e33"></A>
INCREASE OF CAPITAL</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">12.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company may from time to time increase its capital by such sum, to be divided into shares of such par value, as the Company by Resolution shall prescribe.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">13. </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company may, by the Resolution increasing the capital, direct that the new shares or any of them shall be offered in the first instance either at par or at a premium or (subject
to the provisions of the Companies Acts) at a discount to all the holders for the time being of shares of any class or classes in proportion to the number of such shares held by them respectively or make any other provision as to the issue of the
new shares.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">14.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The new shares shall be subject to all the provisions of these Bye-Laws with reference to lien, the payment of calls, forfeiture, transfer, transmission and otherwise.</FONT></TD>
</TR>
</TABLE>
<P ALIGN=center><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="g468e33"></A>
ALTERATION OF CAPITAL</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">15.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company may (subject to Bye-law 15.2) from time to time by Resolution:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">15.1.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">divide its shares into several classes and attach to them respectively any preferential, deferred, qualified or special rights, privileges or conditions;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">15.1.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">consolidate and divide all or any of its share capital into shares of larger par value than any of its existing shares;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">15.1.3</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">sub-divide its shares or any of them into shares of smaller par value than is fixed by its memorandum, so, however, that in the sub-division the proportion between the amount paid
and the amount, if any, unpaid on each reduced share shall be the same as it was in the case of the share from which the reduced share is derived;</FONT></TD>
</TR>
</TABLE>

<P ALIGN=left></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">15.1.4</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">make provision for the issue and allotment of shares which do not carry any voting rights;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">15.1.5</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">cancel shares which, at the date of the passing of the relevant Resolution, have not been taken or agreed to be taken by any person, and diminish the amount of its authorised share
capital by the amount of the shares so cancelled; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">15.1.6</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">change the currency denomination of its share capital.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">15.2 </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the case of any split, subdivision, combination or reclassification of Class A Common Shares or Class X Common Shares, the shares of the other such class of common shares shall
also be split, subdivided, combined or reclassified, in each case so that the numbers of Class A Common Shares and Class X Common Shares in issue immediately following such split, subdivision, combination or reclassification shall bear the same
relationship to one another as do the numbers of Class A Common Shares and Class X Common Shares in issue immediately prior to such split, subdivision, combination or reclassification.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">15.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Where any difficulty arises in regard to any division, consolidation or sub-division under this Bye-Law 15, the Board may settle the same as it thinks expedient and, in particular,
may arrange for the sale of the shares representing fractions and the distribution of the net proceeds of sale in due proportion among the Shareholders who would have been entitled to the fractions, except that any proceeds in respect of any holding
which are less than a sum fixed by the Board may be retained for the benefit of the Company. For the purpose of any such sale the Board may authorise some person to transfer the shares representing fractions to the purchaser, who shall not be bound
to see to the application of the purchase money, nor shall his title to the shares be affected by any irregularity or invalidity in the proceedings relating to the sale.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">16. </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the Companies Acts and to any confirmation or consent required by law or these Bye-Laws, the Company may from time to time by Resolution convert any preference shares in
the Company (unless otherwise expressly provided by the rights attaching to or by the terms of issue of the preference shares in question) into redeemable preference shares.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="h468e33"></A>
REDUCTION OF CAPITAL</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">17.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the Companies Acts and to any confirmation or consent required by law or these Bye-Laws, the Company may from time to time by Resolution authorise the reduction in any
manner of its issued share capital (but not to a sum less than the minimum share capital prescribed by its memorandum) or any share premium account.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">18.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In relation to any such reduction, the Company may by Resolution determine the terms upon which the reduction is to be effected, including, in the case of a reduction of part only
of a class of shares, those shares to be affected.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="i468e33"></A>
CERTIFICATES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">19.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Shares shall be issued in registered form. Unless the Board resolves otherwise, no Covered Person (as such term is defined in the Voting Agreement) will be entitled to a share
certificate for any shares held by him. Otherwise, unless otherwise provided by the rights attaching to or by the terms of issue of any particular shares, each Shareholder shall, upon becoming the holder of any share, be entitled to a share
certificate for all the shares of each class held by him (and, on transferring a part of his holding, to a certificate for the balance), but the Board may decide not to issue certificates for any shares held by, or by the nominee of, any securities
exchange or depository or any operator of any clearance or settlement system except at the request of any such person. In the case of a share held jointly by several persons, delivery of a certificate in their joint names to one of several joint
holders shall be sufficient delivery to all.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">19.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Share certificates shall be in such form as the Board may from time to time prescribe, subject to the requirements of the Companies Acts. No fee shall be charged by the Company for
issuing a share certificate.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">20.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If a share certificate is worn-out or defaced, or alleged to have been lost or destroyed, it may be replaced without fee but on such terms (if any) as to evidence and indemnity and
to payment of any exceptional costs and out of pocket expenses of the Company in investigating such evidence and preparing such indemnity as the Board may think fit and, in case of wearing-out or defacement, on delivery of the certificate to the
Company. The Board may require any such indemnity to be secured in such manner as the Board may think fit.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">21.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">All certificates for shares (other than letters of allotment, scrip certificates and other like documents) shall, except to the extent that the terms of issue of any shares
otherwise provide, be issued under the Seal or a facsimile of it. Each certificate shall be signed by such person or persons (whether or not Officers) as the Board may from time to time decide, but the Board may determine that certificates for
shares or for particular shares need not be signed by any person. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">21.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may also determine, either generally or in any particular case, that any signatures on certificates for shares (or certificates or agreements or other documents evidencing
the issue by the Company of awards under any share option, share incentive or other form of employee benefits plan adopted by the Company from time to time) need not be autographic but may be affixed to such certificates, agreements or other
documents by some mechanical means or may be facsimiles printed on such certificates, agreements or other documents. If any Officer who has signed, or whose facsimile signature has been used on, any such certificate, agreement or other document
ceases for any reason to hold his office, such certificate, agreement or other document may nevertheless be issued as though that Officer had not ceased to hold such office. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">22.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Nothing in these Bye-Laws shall preclude (i) title to a share being evidenced or transferred otherwise than in writing to the extent permitted by the Companies Acts and otherwise as
may be determined by the Board from time to time or (ii) the Board</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">from recognising the renunciation of the allotment of any share by the allottee in favour of some other person on such terms and subject to such conditions as the Board may from
time to time decide.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="j468e33"></A>
LIEN</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">23.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company shall have a first and paramount lien on every share (not being a fully paid share) for all moneys, whether presently due or not, called or payable in respect of such
share. The Company's lien on a share shall extend to all dividends payable on it. The Board may at any time, either generally or in any particular case, waive any lien that has arisen or declare any share to be wholly or in part exempt from the
provisions of this Bye-Law.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">24.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company may sell, in such manner as the Board may think fit, any share on which the Company has a lien, but no sale shall be made unless some sum in respect of which the lien
exists is presently due nor until the expiration of 14 clear days after a notice, stating and demanding payment of the sum presently due and giving notice of the intention to sell in default of such payment, has been served on the holder for the
time being of the share or the person entitled by transmission to it.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">24.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The net proceeds of sale by the Company of any shares on which it has a lien shall be applied in or towards payment or discharge of the debt or liability in respect of which the
lien exists so far as the same is due, and any residue shall (subject to a like lien for debts or liabilities not presently due as existed upon the share prior to the sale) be paid to the holder of, or the person entitled by transmission to, the
share immediately before such sale. For giving effect to any such sale the Board may authorise some person to transfer the share to the purchaser. The purchaser shall be registered as the holder of the share and he shall not be bound to see to the
application of the purchase money, nor shall his title to the share be affected by any irregularity or invalidity in the proceedings relating to the sale.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">24.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Whenever any law for the time being of any country, state or place imposes or purports to impose any immediate or future or possible liability upon the Company to make any payment
or empowers any government or taxing authority or government official to require the Company to make any payment in respect of any shares registered in any of the Company's registers as held either jointly or solely by any Shareholders or in respect
of any dividends, bonuses or other monies due or payable or accruing due or which may become due or payable to such Shareholder by the Company on or in respect of any Shares registered as mentioned above or for or on account or in respect of any
Shareholder and whether in consequence of:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the death of such Shareholder;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the non-payment of any income tax or other tax by such Shareholder;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the non-payment of any estate, probate, succession, death, stamp, or other duty by the executor or administrator of such Shareholder or by or out of his estate; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(d)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">any other act or thing;</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">in every such case (except to the extent that the rights conferred upon holders of any class of shares render the Company liable to make additional payments in respect of sums
withheld on account of the foregoing):</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(i)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Company shall be fully indemnified by such Shareholder or his executor or administrator from all liability;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(ii)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Company shall have a lien upon all dividends and other monies payable in respect of the shares registered in any of the Company's registers as held either jointly or solely by
such Shareholder for all monies paid or payable by the Company as referred to above in respect of such Shares or in respect of any dividends or other monies thereon or for or on account or in respect of such Shareholder under or in consequence of
any such law, together with interest at the rate of 15% per annum (or such other rate as the Board may determine) thereon from the date of payment to date of repayment, and the Company may deduct or set off against such dividends or other monies so
payable any monies paid or payable by the Company as referred to above together with interest at the same rate;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(iii)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Company may recover as a debt due from such Shareholder or his executor or administrator (wherever constituted) any monies paid by the Company under or in consequence of any
such law and interest thereon at the rate and for the period referred to above in excess of any dividends or other monies then due or payable by the Company; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(iv)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> the Company may if any such money is paid or payable by it under any such law as referred to above refuse to register a transfer of any Shares by any such Shareholder or his
executor or administrator until such money and interest is set off or deducted as referred to above or in the case that it exceeds the amount of any such dividends or other monies then due or payable by the Company, until such excess is paid to the
Company.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the rights conferred upon the holders of any class of shares, nothing in this Bye-law 24.3 will prejudice or affect any right or remedy which any law may confer or purport to confer
on the Company. As between the Company and every such Shareholder as referred to above (and, his executor, administrator and estate, wherever constituted), any right or remedy which such law shall confer or purport to confer on the Company shall be
enforceable by the Company.</FONT></P>
</TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="k468e33"></A>
CALLS ON SHARES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">25.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may from time to time make calls upon the Shareholders in respect of any moneys unpaid on their shares (whether on account of the par value of the shares or by way of
premium) and not by the terms of issue of the shares made payable at a date fixed by or in accordance with their terms of issue and each Shareholder shall (subject to the Company serving on him at least 14 clear days' notice specifying the time or
times and place of payment) pay to the Company at the time or times and place so specified the amount called on his shares. A call may be revoked or postponed as the Board may determine.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">25.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A call may be made payable by instalments and shall be deemed to be made at the time when the resolution of the Board authorising the call is passed.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">25.3</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">A person on whom a call is made shall (in addition to the transferee) remain liable for it notwithstanding the subsequent transfer of the share in respect of which the call is made.</FONT></P>
</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">26.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The joint holders of a share shall be jointly and severally liable to pay all calls in respect of it.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">27.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If a sum called in respect of a share is not paid before or on the day appointed for its payment, the person from whom the sum is due shall pay interest on the sum from the day
appointed for payment to the time of actual payment at such rate as the Board may determine, but the Board may waive payment of such interest, wholly or in part.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">28.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any sum which, by the terms of issue of a share, becomes payable on allotment or at any date fixed by or in accordance with such terms of issue, whether on account of the nominal
value of the share or by way of premium, shall for all purposes of these Bye-Laws be deemed to be a call duly made, notified and payable on the date on which, by the terms of issue, the same becomes payable, and, in case of non-payment, all the
relevant provisions of these Bye-Laws as to payment of interest, forfeiture or otherwise shall apply as if such sum had become payable by virtue of a call duly made and notified.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">29.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may, on the issue of any shares, differentiate between the allottees or holders as to the amount of calls to be paid and the times of payment.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">30.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may, if it thinks fit, receive all or any part of the moneys payable on a share beyond the sum actually called up on it if the holder is willing to make payment in advance
and, on any moneys so paid in advance, may (until they would otherwise be due) pay interest at such rate as may be agreed between the Board and the Shareholder paying the sum in advance.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="l468e33"></A>
FORFEITURE OF SHARES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">31.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If a Shareholder fails to pay any call or instalment of a call on the day appointed for its payment, the Board may at any time while any part of such call or instalment remains
unpaid serve on him a notice requiring payment of so much of the call or instalment as is unpaid, together with any interest which may have accrued. The notice shall state a further day (not being less than 14 clear days from the date of the notice)
on or before which, and the place where, the payment required by the notice is to be made and shall state that, in the event of non-payment on or before the day and at the place appointed, the shares in respect of which such call is made or
instalment is payable will be liable to be forfeited. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">32.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may accept the surrender of any share liable to be forfeited, and, in any such case, references in these Bye-Laws to forfeiture include surrender.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">33.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If the requirements of any notice given under Bye-Law 31 are not complied with, any share in respect of which the notice was given may, at any time before payment of all calls or
instalments and interest due in respect of it is made, be forfeited by a</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> resolution of the Board to that effect. Such forfeiture shall include all dividends declared and other moneys payable in respect of the forfeited shares and not actually paid
before the forfeiture.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">34.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">When any share has been forfeited, notice of the forfeiture shall be served on the person who was before forfeiture the holder of the share or the person entitled by transmission to
it, but no forfeiture shall be invalidated by any omission to give such notice.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">35.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A forfeited share shall become the property of the Company and may be sold, re-offered or otherwise disposed of either to the person who was, before forfeiture, the holder of, or
entitled to, the share or to any other person, on such terms and in such manner as the Board thinks fit. At any time before a sale, re-allotment or disposition the forfeiture may be cancelled on such terms as the Board may think fit.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">36.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A person whose shares have been forfeited shall cease to be a Shareholder in respect of the forfeited shares but shall, notwithstanding the forfeiture, remain liable to pay to the
Company all moneys which at the date of forfeiture were payable by him to the Company in respect of the shares, together with interest at such rate as the Board may determine from the date of forfeiture until payment and the Company may enforce
payment without being under any obligation to make any allowance for the value of the shares forfeited.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">37.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">An affidavit to the effect that the deponent is a Director or the Secretary and that a share has been duly forfeited on the date stated in the affidavit shall be conclusive evidence
of the facts stated in it as against all persons claiming to be entitled to the share. The Company may receive the consideration (if any) given for the share on its sale, re-allotment or disposition, and the Board may authorise some person to
transfer the share to the person to whom it is sold, re-allotted or disposed of. That person shall be registered as the holder of the share and shall not be bound to see to the application of the purchase money (if any), nor shall his title to the
share be affected by any irregularity or invalidity in the proceedings relating to the forfeiture, sale, re-allotment or disposal of the share.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>
<A NAME="m468e33"></A>
</B>REGISTER OF SHAREHOLDERS</FONT></B></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">38.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Register shall be kept in the manner prescribed by the Companies Acts at the Registered Office or at such other place in Bermuda as may be authorised by the Board from time to
time.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">38.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company may also keep one or more branch registers at such place or places outside Bermuda to the extent and in the manner permitted by the Companies Acts and the Board may make
such regulations as it thinks fit regarding the keeping of any branch register and may revoke or vary any such regulations. The Board may authorise any share on the Register to be included in a branch register or any share registered on a branch
register to be registered on another branch register, provided that at all times the Register is maintained in accordance with the Companies Acts.</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">38.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Register or any branch register may be closed at such times and for such periods as the Board may from time to time decide, subject to the Companies Acts. Except during such
time as it is closed, the Register and each branch register shall be open to inspection in the manner prescribed by the Companies Acts between 10:00 a.m. and 12:00 noon (or between such other times as the Board from time to time determines) on every
working day.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">38.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Unless the Board so determines, no Shareholder or intending Shareholder shall be entitled to have entered in the Register any indication of any trust or any equitable, contingent,
future or partial interest in any share or any fractional part of a share, and if any such entry exists or is permitted by the Board it shall not be deemed to abrogate any provisions of Bye-Law 11.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="n468e33"></A>
REGISTER OF DIRECTORS AND OFFICERS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">39.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Secretary shall maintain a register of the Directors and Officers of the Company as required by the Companies Acts. The register of Directors and Officers shall be open to
inspection in the manner prescribed by the Companies Acts between 10:00 a.m. and 12:00 noon (or between such other times as the Board from time to time determines) on every working day.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="o468e33"></A>
TRANSFER OF SHARES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">40.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the Companies Acts and to such of the restrictions contained in these Bye-Laws (including, without limitation, Bye-law 4.3(e)) as may be applicable, any Shareholder may
transfer all or any of his shares (of any class) by an instrument of transfer in the usual common form or in any other form which the Board may from time to time approve. The instrument of transfer may be endorsed on the certificate.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">41.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The instrument of transfer of a share shall be signed by or on behalf of the transferor and, if the share is not fully paid, by or on behalf of the transferee and the transferor
shall be deemed to remain the holder of the share until the name of the transferee is entered in the Register in respect of it. All instruments of transfer may be retained by the Company. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">41.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may, in its absolute discretion and without assigning any reason for its decision, decline to register any transfer of any share which is not a fully-paid share. The Board
may also decline to register any transfer if:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">41.2.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the instrument of transfer is not duly stamped, if required, and lodged at the Registered Office or any other place as the Board may from time to time specify for the purpose,
accompanied by the certificate (if any) for the shares to which it relates and such other evidence as the Board may reasonably require to show the right of the transferor to make the transfer; </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">41.2.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the instrument of transfer is in respect of more than one class of share; </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">41.2.3</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the instrument of transfer is in favour of more than four persons jointly;</FONT></TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">41.2.4</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">it is not satisfied that all applicable consents, authorisations, permissions or approvals of any governmental body or agency in Bermuda or any other applicable jurisdiction
required to be obtained under relevant law prior to such transfer have been obtained; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">41.2.5</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">it is not satisfied that the transfer would not violate the terms of any agreement to which the Company (or any of its subsidiaries) and the transferor are party or subject.
</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">41.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to any directions of the Board from time to time in force, the Secretary may exercise the powers and discretions of the Board under Bye-Law 41.2 and Bye-Laws 40 and
42.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">42.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If the Board declines to register a transfer it shall, within one month after the date on which the instrument of transfer was lodged, send to the transferee notice of such
refusal.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">43.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">No fee shall be charged by the Company for registering any transfer or for making any entry in the Register concerning any other document relating to or affecting the title to any
share (except that the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed on it in connection with such transfer or entry).</FONT></TD>
</TR>
</TABLE>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="p468e33"></A>
TRANSMISSION OF SHARES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">44.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the case of the death of a Shareholder, the survivor or survivors, where the deceased was a joint holder, or the estate representative, where he was sole holder, shall be the
only person or persons recognised by the Company as having any title to his shares; but nothing in these Bye-Laws shall release the estate of a deceased holder from any liability in respect of any share held by him either solely or jointly with
other persons. In this Bye-Law, estate representative means the person to whom probate or letters of administration or confirmation as executor has or have been granted under the laws applicable to the estate of the deceased Shareholder or, failing
such person, such other person as the Board may in its absolute discretion determine to be the person recognised by the Company for the purpose of this Bye-Law.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">45.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the case of a person becoming entitled to a share in consequence of the death of a Shareholder or otherwise by operation of applicable law, the Board may require the production
to the Company of such evidence of his entitlement as is prescribed by the Companies Acts or, to the extent that no such evidence is prescribed, as may from time to time be required by the Board. Upon production of such evidence the name and address
of the person so entitled shall be noted in the Register.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">45.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to Bye-Law 46.2, any person entitled by transmission to a share shall be entitled to receive (and may give a discharge for) any dividends or other moneys payable in respect
of the share, to attend and vote in respect of the share at general meetings of the Company and of the relevant class of Shareholders and generally to</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">exercise in respect of the share all of the rights or privileges of a Shareholder as if he were registered as the holder of the share.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">46.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any person entitled by transmission to a share may elect either to be registered himself as the holder of the share or to have some person nominated by him registered as the
transferee of the share. If he elects to be registered himself, he shall deliver or send to the Company a notice in writing signed by him stating that he so elects. If he elects to have his nominee registered, he shall signify his election by
signing an instrument of transfer of such share in favour of his nominee. All the provisions of these Bye-Laws relating to the right to transfer and the registration of transfer of shares shall apply to any such notice or instrument of transfer as
if the death of the Shareholder or other event giving rise to the transmission had not occurred and the notice or instrument of transfer was an instrument of transfer signed by such Shareholder.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">46.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may at any time give notice requiring a person entitled by transmission to a share to elect either to be registered himself or to transfer the share and if the notice is
not complied with within 60 days the Board may withhold payment of all dividends and other moneys payable in respect of the share until the requirements of the notice have been complied with.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">47.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to any directions of the Board from time to time in force, the Secretary may exercise the powers and discretions of the Board under Bye-Laws 44, 45 and 46.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="q468e33"></A>
GENERAL MEETINGS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">48.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board shall convene and the Company shall hold annual general meetings in accordance with the requirements of the Companies Acts. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">48.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may, whenever it thinks fit, and shall, on the requisition in writing of Shareholders holding such number of shares as is prescribed by, and made in accordance with, the
Companies Acts, convene a general meeting in the manner required by the Companies Acts. All general meetings other than annual general meetings shall be called special general meetings. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">48.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Each general meeting shall be held at such time and place as the Board decides.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="r468e33"></A>
NOTICE OF GENERAL MEETINGS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">
<P ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">49.</FONT></P>
</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">An annual general meeting of the Company (other than an adjourned meeting) shall be called by at least 30 clear days' notice and a special general meeting of the Company (other than
an adjourned meeting) shall be called by at least 10 clear days notice. The notice of a general meeting shall specify the place, day and time of the meeting (including any satellite meeting place arranged for the purposes of Bye-Law 53.2) and, in
the case of a special general meeting, the general nature of the business to be considered. Notice of every general meeting shall be given in any manner permitted by these Bye-Laws to all Shareholders (other than those who, under the provisions of
these Bye-Laws or the terms of issue of the shares which they hold, are </FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">not entitled to receive such notice from the Company) and to each Director and to the Resident Representative. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">50.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The accidental omission to give notice of a meeting or (in cases where instruments of proxy are sent out with the notice) the accidental omission to send such instrument of proxy
to, or the non-receipt of notice of a meeting or such instrument of proxy by, any person entitled to receive such notice shall not invalidate the proceedings at that meeting. A Shareholder present, either in person or by proxy, at any general
meeting of the Company or of the holders of any class of shares in the Company, will be deemed to have received notice of that meeting and, where required, of the purpose for which it was called.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="s468e33"></A>
PROCEEDINGS AT GENERAL MEETINGS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">51.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The chairman of the Board or, in his absence, the president of the Board shall preside as chairman at every general meeting of the Company or of any class of Shareholders. If there
is no such chairman or president, or if at any meeting neither the chairman nor the president is present within 5 minutes after the time appointed for holding the meeting, or if neither of them is willing to act as chairman, the Directors present
shall appoint one of those Directors who is willing to act as chairman or, if only one Director is present, he shall preside as chairman, if willing to act. If none of the Directors present is willing to act as chairman, the Director or Directors
present may appoint any other Officer who is present and willing to act as chairman. In default of any such appointment, the persons present and entitled to vote shall elect any Officer who is present and willing to act as chairman or, if no Officer
is present or if none of the Officers present is willing to act as chairman, one of their number to be chairman.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">51.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Except in the case of the removal of auditors or Directors, anything which may be done by resolution in general meeting of all or any class or Shareholders may, without a meeting
and without any previous notice being required, be done by resolution in writing, signed by all of the Shareholders or any class thereof or their proxies (or in the case of a Shareholder that is a corporation (whether or not a company within the
meaning of the Companies Acts) on behalf of such Shareholder) being all of the Shareholders of the Company or any class thereof, who at the date of the resolution in writing would be entitled to attend a meeting and vote on the resolution. Such
resolution in writing may be signed in as many counterparts as may be necessary.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">51.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">For the purposes of any written resolution under Bye-law 51.2, the date of the resolution in writing is the date when the resolution is signed by, or on behalf of, the last
Shareholder to sign and any reference in any enactment to the date of passing of a resolution is, in relation to a resolution in writing made in accordance with this section, a reference to such date.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">51.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A resolution in writing made in accordance with Bye-law 51.2 is as valid as if it had been passed by the Company in general meeting or, if applicable, by a meeting of the relevant
class of Shareholders of the Company, as the case may be. A resolution in writing made in accordance with this section shall constitute minutes for the purposes of the Companies Acts and these Bye-laws.</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">52.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">No business shall be transacted at any general meeting or adjourned meeting unless a quorum is present when the meeting proceeds to business, but the absence of a quorum shall not
preclude the appointment or election of a chairman, which shall not be treated as part of the business of the meeting. Except as otherwise provided by the Companies Acts or these Bye-Laws, two Shareholders present in person or by proxy and having
the right to attend and vote at the meeting and holding shares representing more than 50 per cent of the votes that may be cast by all Shareholders at the relevant time shall be a quorum (provided that, if the Company shall have only one
Shareholder, one Shareholder present in person or by proxy shall constitute the necessary quorum).</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">52.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> If within 5 minutes (or such longer time as the chairman of the meeting may determine to wait) after the time appointed for a meeting a quorum is not present, the meeting, if
convened on the requisition of Shareholders, shall be dissolved. If within 15 minutes after the time appointed for a meeting, no shareholders are present, the meeting shall be dissolved. In any other case, it shall stand adjourned to such other day
and such other time and place as the chairman of the meeting may determine. The Company shall give not less than 5 days notice of any meeting adjourned through want of a quorum and such notice shall state the quorum requirement from the adjourned
meeting under Bye-Law 52.1. If within 5 minutes (or such longer time as the chairman of the meeting may determine to wait) after the time appointed for any adjourned meeting a quorum is not present, the meeting may be further adjourned to such other
day and such other time and place as the chairman of the meeting may determine, but otherwise the meeting shall be dissolved. A meeting may not be adjourned under this Bye-Law 52.2 to a day which is more than 90 days after the day originally
appointed for the meeting. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">52.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If it appears to the chairman of a general meeting that the place of the meeting specified in the notice convening the meeting is inadequate to accommodate all persons entitled and
wishing to attend, the meeting is duly constituted and its proceedings are valid if the chairman is satisfied that adequate facilities are available, whether at the place of the meeting or elsewhere, to ensure that each such person who is unable to
be accommodated at the place of the meeting is able to communicate simultaneously and instantaneously with the persons present at the place of the meeting, whether by the use of microphones, loud-speakers, audio-visual or other communications
equipment or facilities.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">53.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A meeting of the Shareholders or of any class of Shareholders may be held by such electronic means as the Board may from time to time approve and which permit all persons
participating in the meeting to communicate with each other simultaneously and instantaneously, and participation in such a meeting shall constitute presence in person at such meeting.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">53.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may resolve to enable persons entitled to attend a general meeting of the Company or of any class of Shareholders to do so by simultaneous attendance and participation at
a satellite meeting place anywhere in the world. The Shareholders present at any such satellite meeting place in person or by proxy and entitled to vote shall be counted in the quorum for, and shall be entitled to vote at, the general meeting in
question if the chairman of the general meeting is satisfied that adequate </FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%" HEIGHT="18">&nbsp;</TD>
<TD COLSPAN="3" HEIGHT="18"><FONT FACE="Times New Roman, Times, serif" SIZE="2">facilities are available throughout the general meeting to ensure that Shareholders attending at all the meeting places are able to:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">53.2.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">communicate simultaneously and instantaneously with the persons present at the other meeting place or places, whether by the use of microphones, loud-speakers, audio-visual or other
communications equipment or facilities; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">53.2.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> have access to all documents which are required by the Companies Acts and these Bye-Laws to be made available at the meeting.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The chairman of the general meeting shall be present at, and the meeting shall be deemed to take place at, the principal meeting place. If it appears to the chairman of the general
meeting that the facilities at the principal meeting place or any satellite meeting place are or become inadequate for the purposes referred to above, then the chairman may, without the consent of the meeting, interrupt or adjourn the general
meeting. All business conducted at that general meeting up to the time of such adjournment shall be valid. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">54.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Each Director and the Resident Representative shall be entitled to attend and speak at any general meeting of the Company or of any class of Shareholders.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">55.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may make any security arrangements which it considers appropriate relating to the holding of a general meeting of the Company or of any class of Shareholders including,
without limitation, arranging for any person attending a meeting to be searched and for items of personal property which may be taken into a meeting to be restricted, and any person who fails to comply with any such arrangements may be refused entry
to the meeting.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">56.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the Companies Acts, a resolution may only be put to a vote at a general meeting of the Company or of any class of Shareholders if:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">56.1.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">it is proposed by or at the direction of the Board; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">56.1.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">it is proposed at the direction of the Court; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">56.1.3</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">it is proposed on the requisition in writing of such number of Shareholders as is prescribed by, and is made in accordance with, the relevant provisions of the Companies Acts;
or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">56.1.4</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the chairman of the meeting in his absolute discretion decides that the resolution may properly be regarded as within the scope of the meeting.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">56.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">No amendment may be made to a resolution, at or before the time when it is put to a vote, unless the chairman of the meeting in his absolute discretion decides that the amendment or
the amended resolution may properly be put to a vote at that meeting.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">56.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> If the chairman of the meeting rules a resolution or an amendment to a resolution admissible or out of order (as the case may be), the proceedings of the meeting or on the
resolution in question shall not be invalidated by any error in his ruling. Any </FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ruling by the chairman of the meeting in relation to a resolution or an amendment to a resolution shall be final and conclusive.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">57.</FONT></P>
</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The chairman of the meeting may, with the consent of any meeting at which a quorum is present, adjourn the meeting from time to time (or <I>sine die</I>) and from place to place. In
addition to any other power of adjournment conferred by law, the chairman of the meeting may at any time without the consent of the meeting adjourn the meeting (whether or not it has commenced or a quorum is present) to another time and/or place (or
<I>sine die</I>) if, in his opinion, it would facilitate the conduct of the business of the meeting to do so or if he is so directed (prior to or at the meeting) by the Board. When a meeting is adjourned <I>sine die</I> the time and place for the
adjourned meeting shall be fixed by the Board. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">58.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">When a meeting is adjourned for three months or more or <I>sine die</I>, not less than 10 clear days' notice of the adjourned meeting shall be given in the same manner as in the
case of the original meeting. Except as expressly provided by these Bye-Laws, it shall not be necessary to give any notice of an adjourned meeting or of the business to be transacted at an adjourned meeting. No business shall be transacted at any
adjourned meeting except business which might properly have been transacted at the meeting from which the adjournment took place.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="t468e33"></A>
VOTING</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">59.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Except where a greater majority is required by the Companies Acts or these Bye-Laws, any question proposed for consideration at any general meeting of the Company or of any class of
Shareholders shall be decided by a simple majority of the votes cast by Shareholders entitled to vote at such meeting and all resolutions put to the Shareholders will be decided on a poll vote</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">60.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to any rights or restrictions for the time being attached to any class of shares, on any vote each Shareholder present in person or by proxy shall have one vote for each
share held by him.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">61.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may, before any meeting of Shareholders, determine the manner in which the poll vote is to be taken and the manner in which votes are to be counted, which may include
provision for votes to be cast by electronic means by persons present in person or by proxy at the meeting and for the appointment of scrutineers. To the extent not so determined by the Board, such matters shall be determined by the chairman of the
meeting. A person appointed to act as a scrutineer need not be a Shareholder. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">62.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Votes may be cast on the poll vote either personally or by proxy. A person entitled to more than one vote need not use all his votes or cast all the votes he uses in the same
way.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">63.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The result of the poll vote shall be deemed to be the resolution of the meeting.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="left"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT> </P>
<P></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">64.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> In the case of an equality of votes at a general meeting, the motion shall be deemed to be lost and the chairman of the meeting shall not be entitled to a second or casting
vote.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">65.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the case of joint holders of a share, the vote of the senior who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint
holders, and for this purpose seniority shall be determined by the order in which the names stand in the Register in respect of the joint holding.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">66.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to Bye-law 67, a Shareholder who is a patient for any purpose of any statute or applicable law relating to mental health or in respect of whom an order has been made by any
court in Bermuda (or elsewhere having jurisdiction) for the protection or management of the affairs of persons incapable of managing their own affairs may vote, by his receiver, committee, <I>curator bonis</I> or other person in the nature of a
receiver, committee or <I>curator bonis</I> appointed by such court, and such receiver, committee,<I> curator bonis</I> or other person may vote by proxy and may otherwise act and be treated as such Shareholder for the purpose of general meetings.
</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">67.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Evidence to the satisfaction of the Board of the authority of any person claiming the right to vote under Bye-law 66 shall be produced at the Registered Office (or at such other
place as may be specified for the deposit of instruments of proxy) not later than the last time by which an instrument appointing a proxy must be deposited in order to be valid for use at the meeting or adjourned meeting or on the holding of the
poll at or on which that person proposes to vote and, in default, the right to vote shall not be exercisable.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">68.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">No Shareholder shall, unless the Board otherwise determines, be entitled to vote at any general meeting of the Company or of any class of Shareholders in respect of any share held
by him unless all calls or other sums presently payable by him in respect of that share have been paid.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">69.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">No objection may be raised to the qualification of any voter or to the counting of, or failure to count, any vote except at the meeting at which the vote objected to is tendered.
Any objection so raised shall be referred to the chairman of the meeting and shall only vitiate the decision of the meeting on any resolution if the chairman decides that it may have affected the decision of the meeting. The decision of the chairman
on any such matter shall be final and conclusive. Except as otherwise decided by the chairman, every vote counted and not disallowed at the meeting shall be valid and every vote disallowed or not counted shall be invalid.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="u468e33"></A>
PROXIES AND CORPORATE REPRESENTATIVES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">70.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Shareholder may appoint one or more persons as his proxy, with or without the power of substitution, to represent him and vote on his behalf in respect of all or some only of his
shares at any general meeting (including an adjourned meeting). A proxy need not be a Shareholder.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">70.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Shareholder which is a corporation may appoint any person (or two or more persons in the alternative) as its representative to represent it and vote on its behalf at </FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">any general meeting (including an adjourned meeting) and such a corporate representative may exercise the same powers on behalf of the corporation which he represents as that
corporation could exercise if it were an individual Shareholder.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">70.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Shareholder which is a corporation may appoint more than one such corporate representatives (with or without appointing any persons in the alternative) at any such meeting
provided that such appointment specifies the number of shares in respect of which each such appointee is authorised to act as representative, not exceeding in aggregate the number of shares held by the appointor and carrying the right to attend and
vote at the relevant meeting.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">70.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The appointment of a proxy or a corporate representative in relation to a particular meeting shall, unless the contrary is stated, be valid for any adjournment of the
meeting.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">71.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Shareholder may appoint a standing proxy, with or without the power of substitution, or (if a corporation) a standing representative by delivery to the Registered Office (or at
such other place as the Board may from time to time specify for such purpose) of evidence of such appointment. The appointment of such a standing proxy or representative shall be valid for every general meeting and adjourned meeting until such time
as it is revoked by notice to the Company, but:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">71.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> the appointment of a standing proxy or representative may be made on an irrevocable basis in which case the Company may recognise the vote of the proxy or representative given in
accordance with the terms of the appointment, to the exclusion of the vote of the Shareholder, until such time as the appointment ceases to be effective in accordance with its terms. The Company will, in particular, recognise votes given by a proxy
in accordance with the terms of any standing, irrevocable proxy given by a Shareholder pursuant to the terms of the Voting Agreement on this basis;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">71.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(subject to Bye-law 71.1) the appointment of a standing proxy or representative shall be deemed to be suspended at any meeting or poll taken subsequently to any meeting at which the
Shareholder is present or in respect of which the Shareholder has specifically appointed another proxy or representative; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">71.3</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Board may from time to time require such evidence as it deems necessary as to the due execution and continuing validity of the appointment of any standing proxy (other than a
standing, irrevocable proxy given pursuant to the terms of the Voting Agreement) or representative and, if it does so, the appointment of the standing proxy or representative shall be deemed to be suspended until such time as the Board determines
that it has received the required evidence or other evidence satisfactory to it.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">72.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A proxy may be appointed by an instrument in writing in any common form or in such other form as the Board may approve, such instrument being executed under the hand of the
appointor or of his attorney or agent authorised by him in writing or, if the appointor is a corporation, either under its seal or under the hand of an officer,</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">attorney or other person authorised to sign the same. A proxy may also be appointed in such other manner as the Board may from time to time approve. The form of standing,
irrevocable proxy attached to the Voting Agreement will be regarded as approved by the Board for all purposes of these Bye-laws.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">72.2 </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any instrument or other form of communication appointing or evidencing the appointment of a proxy or a corporate representative (other than a standing proxy or representative),
together with such evidence as to its due execution as the Board may from time to time require, shall be delivered to the Registered Office (or to such other place or places as may be specified in the notice convening the meeting or in any notice of
an adjourned meeting or, in either case, in any other information sent to Shareholders by or on behalf of the Board in relation to the meeting or adjourned meeting) by such time or times as may be specified in the notice of meeting or adjourned
meeting or in any such other information (which times may differ when more than one place is so specified) or, if no such time is specified, at any time prior to the holding of the relevant meeting or adjourned meeting at which the appointee
proposes to vote, and if not so delivered (but subject to Bye-Law 76) the appointment shall not be treated as valid.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">72.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to Bye-Law 76 and subject as mentioned in this Bye-law, an instrument or other form of communication appointing or evidencing the appointment of a standing proxy or
corporate representative shall not be treated as valid until 24 hours after the time at which it, together with such evidence as to its due execution as the Board may from time to time require, is delivered to the Registered Office (or to such other
place or places as the Board may from time to time specify for the purpose). Any standing, irrevocable proxy delivered to the Company by any Shareholder pursuant to the Voting Agreement will automatically be treated as valid and effective for all
purposes of these Bye-laws.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">72.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If the terms of appointment of a proxy include a power of substitution, any proxy appointed by substitution under such power shall be deemed to be the proxy of the Shareholder who
conferred such power. All the provisions of these Bye-Laws relating to the execution and delivery of an instrument or other form of communication appointing or evidencing the appointment of a proxy shall apply, <I>mutatis mutandis</I>, to the
instrument or other form of communication effecting or evidencing such an appointment by substitution.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">73.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The appointment of a proxy, whether a standing proxy or a proxy relating to a particular meeting, shall be deemed, unless the contrary is stated, to confer authority to vote on any
amendment of a resolution and on any other resolution put to a meeting for which it is valid in such manner as the proxy thinks fit.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">74. </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A vote given by proxy, whether a standing proxy or a proxy relating to a particular meeting, shall be valid notwithstanding the previous death or insanity of the principal, or
revocation of the appointment of the proxy or of the authority under which it was executed, unless notice of such death, insanity or revocation was received by the Company at the Registered Office (or at any other place as may be specified for the
delivery of instruments or other forms of communication appointing or evidencing the appointment of proxies in the notice convening the meeting or in any other </FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">information sent to Shareholders by or on behalf of the Board in relation to the meeting) at least one hour before the commencement of the meeting or adjourned meeting at which the
vote is given or by such later time as the Board may decide, either generally or in any particular case.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">75.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Notwithstanding the preceding provisions of these Bye-Laws, the Board may decide, either generally or in any particular case, to treat an instrument or other form of communication
appointing or evidencing the appointment of a proxy or a corporate representative as properly delivered for the purposes of these Bye-Laws if a copy or facsimile image of the instrument is sent by electronic means to the Registered Office (or to
such place as may be specified in the notice convening the meeting or in any notice of any adjournment or, in either case, in any other information sent by or on behalf of the Board in relation to the meeting or adjourned meeting). </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">76.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the Companies Acts, the Board may also at its discretion waive any of the provisions of these Bye-Laws relating to the execution and deposit of an instrument or other
form of communication appointing or evidencing the appointment of a proxy or a corporate representative or any ancillary matter (including, without limitation, any requirement for the production or delivery of any instrument or other communication
to any particular place or by any particular time or in any particular way) and, in any case in which it considers it appropriate, may accept such verbal or other assurances as it thinks fit as to the right of any person to attend and vote on behalf
of any Shareholder at any general meeting.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="v468e33"></A>
AMALGAMATIONS, DISCONTINUANCE AND SALES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">77.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any amalgamation of the Company and another company shall require the approval of (i) the Board by a resolution passed with the approval of a majority of those Directors then in
office and eligible to vote on that resolution and (ii) a Resolution passed by a majority of votes cast, in addition to any other sanction required by the Companies Acts in respect of any variation of the rights of any class of
Shareholders.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">77.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A discontinuance of the Company out of Bermuda under Section 132G of the Companies Act 1981 of Bermuda shall, for the purposes of that section, require the approval of (i) the Board
by a resolution passed with the approval of a majority of those Directors then in office and eligible to vote on that resolution and (ii) a Resolution passed by a majority of votes cast.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">77.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any sale, lease or exchange by the Company of all or substantially all of its property or assets, including its goodwill and its corporate franchises, will require the approval of
(i) the Board by a resolution passed with the approval of a majority of those Directors then in office and eligible to vote on that resolution and (ii) a Resolution passed by a majority of votes cast.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="w468e33"></A>
APPOINTMENT AND REMOVAL OF DIRECTORS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">78.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">At the date of adoption of these Bye-Laws on 12 April 2001, the Board consists of the following persons:-</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B></B></FONT></P>
<P ALIGN="center"><B><U><FONT FACE="Times New Roman, Times, serif" SIZE="2">Name</FONT></U></B></P>
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Joe W. Forehand</FONT></P>
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Stephan A. James</FONT></P>
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Jackson L. Wilson, Jr.</FONT></P>

<P>&nbsp;</P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">78.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Joe W. Forehand is designated as a class I Director, Stephen A. James is designated as a class II Director and Jackson L. Wilson Jr. is designated as a class III Director for the
purposes of these Bye-laws. There is no distinction in the voting or other powers and authorities of Directors of different classes; the classifications are solely for the purposes of the retirement by rotation provisions set out in Bye-law 79. All
Directors will be designated as either class I, class II or class III Directors. The Board shall from time to time by resolution determine the respective numbers of class I Directors, class II Directors and class III Directors.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">78.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Upon the resignation or termination of office of any Director, if a new Director shall be appointed to the Board he will be designated to fill the vacancy arising and shall, for the
purposes of these Bye-Laws, constitute a member of the class of Directors represented by the person that he replaces. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">79.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Each class I Director shall (unless his office is vacated in accordance with these Bye-laws) serve initially until the conclusion of the annual general meeting of the Company held
in the calendar year 2002 and subsequently shall (unless his office is vacated in accordance with these Bye-laws) serve for three-year terms, each concluding at the third annual general meeting after the class I Directors together were last
appointed or re-appointed.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">79.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Each class II Director shall (unless his office is vacated in accordance with these Bye-laws) serve initially until the conclusion of the annual general meeting of the Company held
in the calendar year 2003 and subsequently shall (unless his office is vacated in accordance with these Bye-laws) serve for three-year terms, each concluding at the third annual general meeting after the class II Directors together were last
appointed or re-appointed.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">79.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Each class III Director shall (unless his office is vacated in accordance with these Bye-laws) serve initially until the conclusion of the annual general meeting of the Company held
in the calendar year 2004 and subsequently shall (unless his office is vacated in accordance with these Bye-laws) serve for three-year terms, each concluding at the third annual general meeting after the class III Directors were last appointed or
re-appointed.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">79.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any Director retiring at an annual general meeting will be eligible for re-appointment and will retain office until the close of the meeting at which he retires or (if earlier)
until a resolution is passed at that meeting not to fill the vacancy or the resolution to re-appoint him is put to a vote at the meeting and is lost.</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">79.5</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> If the Company, at the meeting at which a Director (of any class) retires by rotation or otherwise, does not fill the vacancy, the retiring Director shall, if willing to act, be
deemed to have been re-appointed unless at the meeting it is resolved not to fill the vacancy or unless a resolution for the reappointment of the Director is put to the meeting and lost.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">80.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">No person shall be appointed a Director, unless:-</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">80.1.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> in the case of an annual or special general meeting, such person is recommended by the Board; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="7%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="79%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">80.1.2</FONT></TD>
<TD COLSPAN="2"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">in the case of an annual general meeting, not less than 120 nor more than 150 days before the date of the Company's proxy
statement released to Shareholders in connection with the prior year's annual general meeting, notice executed by a Shareholder (not being the person to be proposed) has been received by the Secretary of the Company of the intention to propose such
person for appointment, setting forth as to each person whom the Shareholder proposes to nominate for election or re-election as a Director (i) the name, age, business address and residence address of such person, (ii) the principal occupation or
employment of such person, (iii) the class, series and number of shares of the Company which are beneficially owned by such person, (iv) particulars which would, if he were so appointed, be required to be included in the Company's register of
Directors and Officers and (v) all other information relating to such person that is required to be disclosed in solicitations for proxies for the election of Directors pursuant to the Rules and Regulations of the Securities and Exchange Commission
under Section 14 of the Securities Exchange Act of 1934 of the United States of America (as amended), together with notice executed by such person of his willingness to serve as a Director if so elected; provided, however, that no Shareholder shall
be entitled to propose any person to be appointed, elected or re-elected Director at any special general meeting,</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">80.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Director need not be a Shareholder. Except as otherwise required by the Companies Acts, the appointment of any person proposed as a Director shall be effected by a separate
resolution voted on at a general meeting as provided in these Bye-Laws.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">80.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">All Directors (other than the Directors referred to in Bye-law 78.2), upon election or appointment (but not on re-appointment), must provide written acceptance of their appointment,
in such form as the Board may think fit, by notice in writing to the Registered Office within 30 days of their appointment.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">81.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may determine the number of Directors from time to time, which will be not less than 8&nbsp;nor more than 15.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">81.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to Bye-law 79.5, the Directors shall be individuals appointed as follows:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">81.2.1</FONT></P>
</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Company by Resolution at the annual general meeting in each year or at any special general meeting called for the purpose may appoint any eligible</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">person as a Director (but not so as to exceed the maximum number of Directors permitted by these Bye-Laws);</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">81.2.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">if so authorised by the Company by Resolution at any general meeting, the Board may, by a resolution passed with the approval of a majority of the Directors then in office, appoint
any persons as additional Directors (but not so as to exceed the maximum number of Directors permitted by these Bye-Laws);</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">81.2.3</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">so long as there remains in office a sufficient number of Directors to constitute a quorum of the Board in accordance with Bye-Law 99.1, the Board may, by a resolution passed with
the approval of a majority of the Directors then in office, appoint any person as a Director to fill any vacancy occurring in the Board;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">and a Director so appointed shall (unless he is removed from office or his office is vacated in accordance with these Bye-Laws) hold office until he is required to retire under the
following provisions of this Bye-law 81.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">81.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to Bye-law 78.3, the resolution appointing any Director must designate the Director as a class I, class II or class III Director.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">81.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Director (other than a Director appointed by the Board prior to the completion by the Company of the initial public offering and listing of its Class A Common Shares, who will
hold office until required to resign under Bye-law 79.1, 79.2 or 79.3, as relevant) appointed by the Board under Bye-law 81.2.2 or 81.2.3 will hold office only until the next following annual general meeting. If not re-appointed at that annual
general meeting, the Director will vacate office at the end of that meeting. If re-appointed at that annual general meeting, the Director will subsequently hold office until required to retire by rotation under Bye-law 79.1, 79.2 or 79.3 as
relevant.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">81.5</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Directors are not entitled to appoint alternate directors.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="x468e33"></A>
RESIGNATION AND DISQUALIFICATION OF DIRECTORS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">82.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">The office of a Director shall be vacated:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">82.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">if he resigns his office, on the date on which notice of his resignation is delivered to the Registered Office or tendered
at a meeting of the Board or on such later date as may be specified in such notice; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">82.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> on his being prohibited by law from being a Director;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">82.3</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">on his ceasing to be a Director by virtue of any provision of the Companies Acts; </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">82.4</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">if, at a time when the Employee Covered Shares which are subject to Article IV of the Voting Agreement carry the right to
cast more than 50 per cent. of all votes capable of being cast generally on resolutions of Shareholders, the Partners' Representatives (as defined in the Voting Agreement, being the representatives of the Shareholders who are party from time to time
to the Voting Agreement), having been authorised to do so by the affirmative vote of </FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">66 <FONT SIZE=1><SUP>2</SUP>
</FONT>/<FONT SIZE=1>3</FONT> per cent. of the Employee Covered Shares (which vote shall be conducted pursuant to such procedures as the Partners' Representatives shall determine, including (without limitation) the record date for that vote) give
written notice to the Company that the office of any Director is terminated (such notice having effect upon delivery to the Company); or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">82.5</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> if, at a time when the Employee Covered Shares which are subject to Article IV of the Voting Agreement do not carry the
right to cast more than 50 per cent. of all votes capable of being cast generally on resolutions of Shareholders, he is requested to resign in writing by not less than three quarters of the other Directors. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">The provisions of section 93 of the Companies Act 1981 of
Bermuda will not apply to the Company.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="y468e33"></A>
DIRECTORS' REMUNERATION AND EXPENSES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">
<P ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">83.</FONT></P>
</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Each Director (other than a Director who is also an employee of
a Group Company) shall be entitled to receive such fees for his services as a Director, if any, as the Board may from time to time determine. Directors who are also employees of a Group Company will not be paid any such fees by the Company in
addition to their remuneration as an employee. Each Director shall be paid all expenses properly and reasonably incurred by him in the conduct of the Company's business or in the discharge of his duties as a Director, including (but without
limitation) his reasonable travelling, hotel and incidental expenses in attending and returning from meetings of the Board or any committee of the Board or general meetings.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">84.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may from time to time determine that, subject to the requirements of the Companies Acts, all or part of any fees or other remuneration payable to any non-employee Director
or other Officer of the Company shall be provided in the form of shares or other securities of the Company or any subsidiary of the Company, or options or rights to acquire such shares or other securities, on such terms as the Board may
decide.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="z468e33"></A>
DIRECTORS' INTERESTS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">85.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Director may hold any other office or place of profit with the Company (except that of auditor) in addition to his office of Director for such period and upon such terms as the
Board may determine and may be paid such extra remuneration for so doing (whether by way of salary, commission, participation in profits or otherwise) as the Board may determine, in addition to any remuneration or other amounts payable to a Director
pursuant to any other Bye-Law.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">86.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Director may act by himself or his firm in a professional capacity for the Company (otherwise than as auditor) and he or his firm shall be entitled to remuneration for
professional services as if he were not a Director.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="left"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT> </P>
<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">87.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the Companies Acts, a Director notwithstanding his office (i) may be a party to, or otherwise interested in, any transaction or arrangement with the Company or in which
the Company is otherwise interested and (ii) may be a director or other officer of, or employed by, or a party to any transaction or arrangement with, or otherwise interested in, any company or other person promoted by the Company or in which the
Company is interested. The Board may also cause the voting power conferred by the shares in any other company or other person held or owned by the Company to be exercised in such manner in all respects as the Board thinks fit, including the exercise
of votes in favour of any resolution appointing the Directors or any of them to be directors or officers of such other company or person or voting or providing for the payment of remuneration to any such Directors as the directors or officers of
such other company or person.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">87.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Director who is in any way, whether directly or indirectly, to his knowledge interested in a contract with the Company or any other Group Company shall declare the nature of his
interest at the first opportunity at a meeting of the Board at which the question of entering into the contract is first taken into consideration, if he knows his interest then exists, or in any other case at the first meeting of the Board after he
knows that he is or has become so interested. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">87.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Subject to the Companies Acts and any further disclosure required thereby, a general notice to the Directors by a Director or other Officer declaring that he is a director or
officer of or has an interest in a person and is to be regarded as interested in any transaction or arrangement made with that person shall be a sufficient declaration of interest in relation to any transaction or arrangement so made.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">87.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">So long as, where it is necessary, he declares the nature of his interest in accordance with Bye-law 87.2, a Director shall not by reason of his office be accountable to the Company
for any benefit which he derives from any office or employment to which these Bye-Laws allow him to be appointed or from any transaction or arrangement in which these Bye-Laws allow him to be interested, and no such transaction or arrangement shall
be liable to be avoided on the ground of any such interest or benefit.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="aa468e33"></A>
POWERS OF THE BOARD</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">88.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the provisions of the Companies Acts and these Bye-Laws, the Board shall manage the business and affairs of the Company and may exercise all the powers of the Company. No
alteration of these Bye-Laws shall invalidate any prior act of the Board which would have been valid if that alteration had not been made. The powers given by this Bye-Law shall not be limited by any special power given to the Board by these
Bye-Laws and, except as otherwise expressly provided in these Bye-Laws, a meeting of the Board at which a quorum is present shall be competent to exercise all the powers, authorities and discretions for the time being vested in or exercisable by the
Board. So long as the Director acts honestly and in good faith with a view to the best interests of the Company in taking any action, including action that may involve or relate to a change or potential change in the control of the Company, a
Director may consider, among other things, both the long-term interests of the Company and its</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Shareholders and the effects that the Company's actions may have in the short term or long term upon any one or more of the following matters:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(i)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the prospects for potential growth, development, productivity and profitability of the Company;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(ii)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the employees, including &quot;partner&quot; level employees, of the Company and its subsidiaries;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(iii)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the retired former partners and &quot;partner&quot; level employees of the Accenture group of businesses (as constituted prior to the adoption of these Bye-laws);</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(iv)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the customers and creditors of the Company and its subsidiaries;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(v)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the ability of the Company and its subsidiaries to contribute to the communities in which they do business, and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(vi)</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">such other additional factors as a Director may consider appropriate in such circumstances.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Nothing in this Bye-law 88 shall create any duty owed by any Director to any person or entity to consider, or afford any particular weight to, any of the foregoing matters or to
limit his consideration to the foregoing matters. No such employee, retired former partner of Accenture, former employee, beneficiary, customer, creditor or community or member thereof shall have any rights against any Director under this Bye-law
88.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">89.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may exercise all the powers of the Company to borrow money and to mortgage or charge all or any part of the undertaking, property and assets (present and future) and
uncalled capital of the Company and to issue debentures and other securities, whether outright or as collateral security for any debt, liability or obligation of the Company or of any other person.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">90.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">All cheques, promissory notes, drafts, bills of exchange and other instruments, whether negotiable or transferable or not, and all receipts for money paid to the Company shall be
signed, drawn, accepted, endorsed or otherwise executed, as the case may be, in such manner as the Board shall from time to time determine.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">91.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may (subject to Bye-law 83) exercise all the powers of the Company to grant or procure the grant or provision of benefits, including pensions, annuities or other
allowances, to or for any person, including any Director or former Director, who has held any executive office or employment with, or whose services have directly or indirectly been of benefit to, the Company or any company which is or has been a
subsidiary of the Company or otherwise associated with any of them or a predecessor in business of the Company or of any such other company, and to or for any relation or dependant of any such person, and to contribute to any fund and pay premiums
for the purchase or provision of any such benefit, or for the insurance of any such person.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">92.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may from time to time appoint one or more of its body to hold any executive office with the Company for such period and on such terms as the Board may determine and may
revoke or terminate any such appointment. Any such revocation or termination shall be without prejudice to any claim for damages that such Director may have against the Company or the Company may have against such Director for any breach of any
contract of service between him and the Company </FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">which may be involved in such revocation or termination. Any person so appointed shall receive such remuneration, if any (whether by way of salary, commission, participation in
profits or otherwise), as the Board may (subject to Bye-law 83) determine.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ab468e33"></A>
DELEGATION OF THE BOARD'S POWERS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">93.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may by power of attorney or otherwise (including by a
duly passed resolution) appoint any person, whether nominated directly or indirectly by the Board, to be the attorney or agent of the Company and may delegate to such person any of the Board's powers, authorities and discretions (with power to
sub-delegate) for such period and subject to such conditions as it may think fit. The Board may revoke or vary any such appointment or delegation, but no person dealing in good faith and without notice of such revocation or variation shall be
affected by any such revocation or variation. Any such power of attorney or resolution or other document may contain such provisions for the protection and convenience of persons dealing with any such attorney or agent as the Board may think
fit.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">94.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may entrust to and confer upon any Officer any of its
powers, authorities and discretions (with power to sub-delegate) on such terms and conditions with such restrictions as it thinks fit and either collaterally with, or to the exclusion of, its own powers and may from time to time revoke or vary all
or any of such powers, but no person dealing in good faith and without notice of such revocation or variation shall be affected by any revocation or variation.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">95.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may delegate any of its powers, authorities and
discretions (with power to sub-delegate) to any committee, consisting of such person or persons (whether Directors or not) as it thinks fit. The Board may make any such delegation on such terms and conditions with such restrictions as it thinks fit
and either collaterally with, or to the exclusion of, its own powers and may from time to time revoke or vary such delegation, but no person dealing in good faith and without notice of such revocation or variation shall be affected by any revocation
or variation. Any committee so formed shall, in the exercise of the powers, authorities and discretions so delegated, conform to any regulations which may be imposed on it by the Board. The power to delegate to a committee extends to all the powers,
authorities and discretions of the Board generally (including, but without limitation, those conferred by Bye-Law 88) and shall not be limited by the fact that in certain provisions of these Bye-Laws, but not in others, express reference is made to
a committee or to particular powers, authorities or discretions being exercised by the Board or by a committee of the Board.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">95.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">The meetings and proceedings of any committee of the Board
consisting of two or more members shall be governed by the provisions contained in these Bye-Laws for regulating the meetings and proceedings of the Board so far as they are capable of applying and are not superseded by any regulations imposed by
the Board except that, unless otherwise determined by the Board, the quorum necessary for the transaction of business at any committee meeting shall be two members.</FONT></TD>
</TR>
</TABLE>
<FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT>
<P></P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ac468e33"></A>
PROCEEDINGS OF THE BOARD</B></FONT></P>
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<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">96. </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may meet for the despatch of business, adjourn and
otherwise regulate its meetings as it thinks fit. Except where a greater majority is required by these Bye-Laws, questions arising at any meeting shall be determined by a majority of the votes cast. In the case of an equality of votes the motion
shall be deemed to be lost and the chairman of the meeting shall not be entitled to a second or casting vote.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">97. </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">A meeting of the Board may at any time be summoned by the
Chairman or, if there is no Chairman, by the chief executive officer, if he is a Director. The Secretary shall also summon a meeting of the Board on the requisition of any two or more of the Directors for the time being in office.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">98. </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Notice of a meeting of the Board shall be deemed to be duly
given to a Director if it is given to him personally or by word of mouth or sent to him by post, facsimile or other electronic means at his last known address or any other address given by him to the Company for this purpose. A Director may waive
notice of any meeting either prospectively or retroactively or at the meeting in question.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">99.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">The quorum necessary for the transaction of business at any
meeting of the Board shall be two Directors or a majority of the Directors then in office, whichever is the higher number, but in determining the majority of the Directors then in office for the purpose of ascertaining a quorum for the transaction
of any particular business at a meeting there shall be disregarded any Director who is not permitted to vote on that business.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">99.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Director shall not vote (or be counted in the quorum at a
meeting) in respect of any resolution concerning his own appointment (including fixing or varying its terms), or the termination of his own appointment, as the holder of any office or place of profit with the Company or any other company in which
the Company is interested but, where proposals are under consideration concerning the appointment (including fixing or varying its terms), or the termination of the appointment, of two or more Directors to offices or places of profit with the
Company or any other company in which the Company is interested, those proposals may be divided and a separate resolution be put in relation to each Director and in that case each of the Directors concerned shall be entitled to vote (and be counted
in the quorum) in respect of each resolution unless it concerns his own appointment or the termination of his own appointment.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">99.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to Bye-Law 99.2, a Director who has in accordance with
Bye-law 87.2 disclosed his interest in a contract or arrangement with the Company, or in which the Company is otherwise interested, may vote (and be counted in the quorum at any meeting) in respect of any resolution concerning such contract or
arrangement.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">99.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If any question arises at any meeting as to the entitlement of any Director (including the chairman of the meeting) to vote and the question is not resolved by his voluntarily
agreeing to abstain from voting, the question shall be referred to the decision of a vote of the other Directors present at the meeting (for which purpose the interested Director shall be counted in the quorum but shall not vote on the matter) and
their ruling in relation to the Director concerned shall be final and conclusive</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">except in a case where the nature or extent of the interest of the Director concerned, so far as known to him, has not been fairly disclosed. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">99.5 </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Resident Representative shall, upon delivering written notice of an address for the purposes of receiving notice to the Registered Office, be entitled to receive notice of and
to attend and be heard at and to receive minutes of all meetings of the Board.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">99.6</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company may by Resolution suspend or relax the provisions of this Bye-Law 99 to any extent or ratify any transaction not duly authorised by reason of a contravention of
it.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">100.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">So long as at least two Directors remain in office, the continuing Directors may act notwithstanding any vacancy in the Board, but, if less than two Directors remain in office, the
sole continuing Director may act only for the purposes of calling a general meeting for such purposes as he thinks fit and of nominating a person or persons for appointment to the Board.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">101.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The chairman of the Board or, in his absence, any Director holding the office of president shall preside as chairman at every meeting of the Board. If there is no such chairman or
president, or if at any meeting the chairman or the president is not present within 5 minutes after the time appointed for holding the meeting or is not willing to act as chairman, the Directors present may choose one of their number to be chairman
of the meeting.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">102.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A resolution in writing signed or approved by all the Directors shall be as valid and effectual as a resolution passed at a meeting of the Board duly called and constituted. Such a
resolution may be contained in one document or in several documents in like form each signed or approved by one or more of the Directors.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">103.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A meeting of the Board may be held by such electronic means as permit all persons participating in the meeting to communicate with each other simultaneously and instantaneously, and
participation in such a meeting shall constitute presence in person at such meeting. Such a meeting will be deemed to take place where the largest group of those participating in the meeting are physically present together or, if there is no such
group, where the chairman of the meeting then is.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">104.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">All acts done in good faith by the Board or by any committee or by any person acting as a Director or member of a committee or any person authorised by the Board or any committee
shall, notwithstanding that it is afterwards discovered that there was some defect in the appointment of any member of the Board or such committee or person acting as aforesaid or that they or any of them were disqualified or had vacated their
office, be as valid as if every such person had been duly appointed and was qualified and had continued to be a Director, member of such committee or person so authorised.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ad468e33"></A>
OFFICERS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">105.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company shall have either a chairman and a deputy chairman or a president and vice-president, as the Board may from time to time determine, who shall be Directors</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">and shall be elected by the Board. A person appointed to any such office shall vacate that office if he vacates his office as a Director (otherwise than by retirement at a general
meeting of the Company at which he is re-appointed).</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%" HEIGHT="18"><FONT FACE="Times New Roman, Times, serif" SIZE="2">105.2</FONT></TD>
<TD COLSPAN="3" HEIGHT="18"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company may have such other Officers in addition to the Directors and the Secretary, as the Board may from time to time determine. Without limiting the foregoing,
such other Officers may include a chairman and deputy chairman (if a president and vice-president are appointed under Bye-law 105.1) or a president and one or more vice-presidents (if a chairman and deputy chairman are appointed under Bye-law
105.1), to the extent that such Officers are not appointed pursuant to Bye-law 105.1. A person appointed to any such other office need not be a Director and the same person may hold more than one office.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">105.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any person elected or appointed pursuant to this Bye-Law 105 shall hold office for such period and on such terms as the Board may determine and the Board may revoke or vary any such
election or appointment at any time by resolution of a majority of the Directors then in office. Any such revocation or variation shall be without prejudice to any claim for damages that such Officer may have against the Company or the Company may
have against such Officer for any breach of any contract of service between him and the Company which may be involved in such revocation or variation. If any such office becomes vacant for any reason, the vacancy may be filled by the Board.
</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">105.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Except as provided in the Companies Acts or these Bye-Laws, the powers and duties of any Officer elected or appointed pursuant to this Bye-Law 105 shall be such as are determined
from time to time by the Board.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ae468e33"></A>
MINUTES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">106.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board shall cause minutes to be made and books kept for the purpose of recording all the proceedings at meetings of the Board and of any committee of the Board and at general
meetings of the Company and of any class of Shareholders of the Company.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">106.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> The minutes of general meetings of the Company and of any class of Shareholders of the Company (but not minutes of meetings of the Board or any committee of it) shall be open to
inspection in the manner prescribed by the Companies Acts between 10:00 a.m. and 12:00 noon (or between such other times as the Board from time to time determines) on every working day.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="af468e33"></A>
SECRETARY AND RESIDENT REPRESENTATIVE</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">107. </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Secretary and, if required by the Companies Acts, the Resident Representative shall be appointed by the Board at such remuneration (if any) and on such terms as it may think fit
and any Secretary and Resident Representative so appointed may be removed by the Board. The duties of the Secretary and those of the Resident Representative shall be those prescribed by the Companies Acts, together with such other duties as shall
from time to time be prescribed by the Board.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">108. </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A provision of the Companies Acts or these Bye-Laws requiring or authorising a thing to be done by or to a Director and the Secretary shall not be satisfied by its being done by or
to the same person acting both as Director and as, or in the place of, the Secretary.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ag468e33"></A>
THE SEAL</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">109.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Seal shall consist of a circular metal device with the name of the Company around its outer margin and the details of its registration across its centre. The Company may also
have for use in any territory outside Bermuda one or more additional Seals, each of which shall be a duplicate of the Seal except, in the case of a Seal for use in sealing documents creating or evidencing securities issued by the Company, for the
addition on its face of the word &quot;Securities&quot;.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">109.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board shall provide for the custody of every Seal. A Seal shall only be used by authority of the Board or of a committee of the Board. Subject to the Companies Acts and except
as provided in Bye-Law 21, any instrument to which a Seal is affixed shall be signed by an Officer or by any person who has been authorised by the Board either generally or specifically to attest to the use of a Seal.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ah468e33"></A>
DIVIDENDS AND OTHER PAYMENTS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">110.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the Companies Acts, the Board may from time to time
declare cash dividends to be paid to the Shareholders, according to their respective rights and interests, and may fix the time for the payment of such dividends. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">111.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Except insofar as the rights attaching to, or the terms of
issue of, any shares otherwise provide:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">111.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">all dividends shall be declared and paid according to the
amounts paid up on the shares in respect of which the dividend is paid, but no amount paid up on a share in advance of a call may be treated for the purpose of this Bye-Law 111 as paid up on the share; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">111.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">dividends shall be apportioned and paid pro rata according to
the amounts paid up on the shares during any portion or portions of the period in respect of which the dividend is paid.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">112.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may deduct from any dividend or other moneys payable
to a Shareholder (either alone or jointly with another) by the Company on or in respect of any shares all sums of money (if any) due from him (either alone or jointly with another) to the Company on account of calls or otherwise in respect of shares
of the Company.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">113.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> No dividend or other moneys payable by the Company on or in
respect of any share shall bear interest against the Company, unless the terms of issue of that share otherwise expressly provide.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">114.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Any dividend or other sum payable in cash to the holder of a
share may be paid by cheque, warrant or other means approved by the Board and, in the case of a cheque or </FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">warrant, may be sent through the post addressed to the holder
at his address in the Register (or, in the case of joint holders, addressed to the holder whose name stands first in the Register in respect of the share at his registered address as appearing in the Register) or addressed to such person at such
address as the holder or joint holders may in writing direct.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">114.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Every such cheque or warrant shall, unless the holder or joint holders otherwise direct, be made payable to the order of the holder or, in the case of joint holders, to the order of
one or more of the holders and shall be sent at his or their risk and payment of the cheque or warrant by the bank on which it is drawn shall constitute a good discharge to the Company.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">114.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> In addition, any dividend or other sum payable to the holder of a share may be paid by a bank or other funds transfer system or by such other means as may be approved by the Board
and to or through such person as the holder or joint holders may direct in writing, and the Company shall have no responsibility for any sums lost or delayed in the course of any such transfer or when it has acted on any such direction. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">114.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any one of two or more joint holders may give an effectual receipt for any dividend or other moneys payable or property distributable in respect of the shares held by such joint
holders.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">115.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If (i) a payment for a dividend or other sum payable in respect of a share sent by the Company to the person entitled to it in accordance with these Bye-Laws is left uncashed or is
returned to the Company and, after reasonable enquiries, the Company is unable to establish any new address or, with respect to a payment to be made by a funds transfer system, a new account, for that person or (ii) such a payment is left uncashed
or returned to the Company on two consecutive occasions, the Company shall not be obliged to send any dividends or other sums payable in respect of that share to that person until he notifies the Company of an address or, where the payment is to be
made by a funds transfer system, details of the account, to be used for the purpose.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">115.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any dividend or other distribution in respect of a share which is unclaimed for a period of 6 years from the date on which it became payable shall be forfeited and shall revert to
the Company. The payment by the Company of any unclaimed dividend or other distribution payable on or in respect of a share into a separate account shall not constitute the Company a trustee in respect of it.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">116.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may direct payment or satisfaction of any dividend or other distribution wholly or in part by the distribution of specific assets and, in particular, of fully or partly
paid up shares or debentures of any other company; and, where any difficulty arises in regard to such dividend or distribution, the Board may settle it as it thinks expedient, and in particular may authorise any person to sell and transfer any
fractions, or may ignore fractions altogether, and may fix the value for distribution or dividend purposes of any such specific assets, and may determine that cash payments shall be made to any Shareholders upon the footing of the values so fixed in
order to secure equality of distribution, and may vest any such specific assets in trustees as may seem expedient to the Board.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="left"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT> </P>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT></P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ai468e33"></A>
RESERVES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">117.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may, before declaring any dividend or other distribution, set aside such sums as it thinks proper as reserves which shall, at the discretion of the Board, be applicable
for any purpose of the Company and pending such application may, also at such discretion, either be employed in the business of the Company or be invested in such manner as the Board may from time to time think fit. The Board may also without
placing the same to reserves carry forward any sums which it may think it prudent not to distribute.</FONT></TD>
</TR>
</TABLE>
<FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="aj468e33"></A>
CAPITALISATION OF RESERVES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">118.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may, at any time and from time to time, resolve that it is desirable to capitalise all or any part of any amount for the time being standing to the credit of any reserve
or fund which is available for distribution or to the credit of any share premium account and accordingly that such amount be set free for distribution amongst the Shareholders or any class of Shareholders who would be entitled to it if distributed
by way of dividend and in the same proportions, on the footing that the same is not paid in cash but is applied either in or towards paying up amounts for the time being unpaid on any shares in the Company held by such Shareholders respectively or
in payment up in full of unissued shares, debentures or other obligations of the Company, to be allotted, distributed and credited as fully-paid amongst such Shareholders, or partly in one way and partly in the other; provided that, for the purpose
of this Bye-Law, a share premium account may be applied only in paying up of unissued shares to be issued to such Shareholders credited as fully-paid and provided further than any sum standing to the credit of a share premium account may only be
applied in crediting as fully-paid shares of the same class as that from which the relevant share premium was derived.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">118.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Where any difficulty arises in regard to any distribution under this Bye-Law 118, the Board may settle the same as it thinks expedient and, in particular, may make such provision as
it thinks fit in the case of securities becoming distributable in fractions (including provision for the whole or part of the benefit of fractional entitlements to accrue to the Company) and may authorise any person to sell and transfer any
fractions or may resolve that the distribution should be as nearly as may be practicable in the correct proportion but not exactly so or may ignore fractions altogether, and may determine that cash payments should be made to any Shareholders in lieu
of any fractional entitlements, as may seem expedient to the Board. The Board may appoint any person to sign on behalf of the persons entitled to participate in the distribution any contract necessary or desirable for giving effect to it, and such
appointment shall be effective and binding upon the Shareholders.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">119.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Whenever the Board decides to make a capitalisation issue of shares under Bye-Law 118 it may, subject to the rights attached to any particular class of shares, also decide to offer
any Shareholder the right to elect to forego his entitlement to receive additional shares under such capitalisation issue (or such part of his entitlement as the Board may determine) and to receive instead a payment in cash (a &quot;cash
option&quot;) in accordance with the following provisions of this Bye-Law 119. </FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">119.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The amount payable under and all other terms of the cash option shall be decided by the Board, which may fix a limit on the extent to which an election for the cash option shall be
effective (whether by reference to a part of any Shareholder's total entitlement to additional shares or to the total number of additional shares in respect of which all such elections may be made on any occasion). </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">119.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board shall give notice to the Shareholders of their rights of election in respect of the cash option and shall specify the procedure to be followed in order to make an
election.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">119.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Payments to those Shareholders who elect to receive cash instead of their entitlement to further shares under such a capitalisation issue (&quot;cash electors&quot;) may be made
either (i) out of profits or reserves of the Company available for the payment of dividends or (ii) out of the net proceeds of sale of the shares to which the cash electors would have been entitled under such capitalisation issue but for their
election to receive cash, or partly in one way and partly in the other, as the Board determines. To the extent that the Board determines that payment is to be made as in (ii) above, the Board shall be entitled to sell the additional shares to which
the cash electors would have been entitled, to appoint some person to transfer those shares to the purchaser (who shall not be bound to see to the application of the purchase money nor shall his title to the shares be affected by any irregularity or
invalidity in the proceedings relating to the sale). The net proceeds of sale shall be applied in or towards payment of the amounts due to cash electors in respect of their cash entitlement and, to the extent that they exceed that entitlement, may
be retained by the Company for its benefit.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">119.5</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may decide that Shareholders resident in territories where, in the opinion of the Board, compliance with local laws or regulations would be unduly onerous if those
Shareholders were to receive additional shares, shall be deemed to have exercised rights of election to receive cash.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">119.6</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may determine that any sums due in respect of a cash option to all or some of those Shareholders whose registered addresses are in a particular territory shall be paid in
a currency or currencies other than US dollars and, if it does so, the Board may fix or otherwise determine the basis of conversion into the other currency or currencies and payment of that converted amount in that currency shall be in full
satisfaction of the entitlement to such sum.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">120.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may, subject to the rights attached to any particular class of shares, offer any Shareholder the right to elect to receive further shares, credited as fully paid, instead
of cash in respect of all (or some part) of any dividend (a &quot;scrip dividend&quot;) in accordance with the following provisions of this Bye-Law 120.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">120.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The basis of allotment of the further shares shall be decided by the Board so that, as nearly as may be considered convenient, the value of the further shares, including any
fractional entitlement, is equal to the amount of the cash dividend which would otherwise have been paid. For these purposes the value of the further shares shall be </FONT></TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">calculated in such manner as may be determined by the Board, but the value shall not in any event be less than the par value of a share.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">120.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board shall give notice to the Shareholders of their rights of election in respect of the scrip dividend and shall specify the procedure to be followed in order to make an
election.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">120.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The dividend or that part of it in respect of which an election for the scrip dividend is made shall not be paid and instead further shares shall be allotted in accordance with
elections duly made and the Board shall capitalise a sum equal to not less than the aggregate par value of, nor more than the aggregate &quot;value&quot; (as determined under Bye-Law 120.2) of, the shares to be allotted, as the Board may determine
out of such sums available for the purpose as the Board may consider appropriate.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">120.5</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may decide that the right to elect for any scrip dividend shall not be made available to Shareholders resident in any territory where, in the opinion of the Board,
compliance by the Company with local laws or regulations would be unduly onerous.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">120.6</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may do all acts and things considered necessary or expedient to give effect to the provisions of a scrip dividend election and the issue of any shares in accordance with
the provisions of this Bye-Law 120, and may make such provisions as it thinks fit for the case of shares becoming distributable in fractions (including provisions under which, in whole or in part, the benefit of fractional entitlements accrues to
the Company rather than to the Shareholders concerned). </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">120.7</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may from time to time establish or vary a procedure for election mandates, under which a holder of shares may, in respect of any future dividends for which a right of
election pursuant to this Bye-Law 120 is offered, elect to receive further shares in lieu of such dividend on the terms of such mandate.</FONT></TD>
</TR>
</TABLE>
<FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ak468e33"></A>
RECORD DATES</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">121.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Notwithstanding any other provision of these Bye-Laws, the Company by Resolution or the Board may fix any date as the record date for any dividend, distribution, allotment or issue
and for the purpose of identifying the persons entitled to receive notices of general meetings of the Company or of any class of Shareholders or other documents. Any such record date may be on or at any time before or after any date on which such
dividend, distribution, allotment or issue is declared, paid or made or such notice or other document is dispatched.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">121.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In relation to any general meeting of the Company or of any class of Shareholders or to any adjourned meeting of which notice is given, the Board may specify in the notice of
meeting or adjourned meeting or in any document sent to Shareholders by or on behalf of the Board in relation to the meeting, a time and date (a &quot;record date&quot;) which is not more than 60 days before the date fixed for the meeting (the
&quot;meeting date&quot;) and, notwithstanding any provisions in these Bye-Laws to the contrary, in any such case:</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">121.2.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">each person entered in the Register at the record date as a Shareholder, or a Shareholder of the relevant class, (a &quot;record date holder&quot;) shall be entitled to attend and
to vote at the relevant meeting and to exercise all of the rights or privileges of a Shareholder, or a Shareholder of the relevant class, in relation to that meeting in respect of the shares, or the shares of the relevant class, registered in his
name at the record date; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">121.2.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">accordingly, a holder of relevant shares at the meeting date shall not be entitled to attend or to vote at the relevant meeting, or to exercise any of the rights or privileges of a
Shareholder, or a Shareholder of the relevant class, in respect of the relevant shares at that meeting. </FONT></TD>
</TR>
</TABLE>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="al468e33"></A>
ACCOUNTING RECORDS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">122.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board shall cause accounting records of the Company to be kept in accordance with the requirements of the Companies Acts.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">123.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The records of account shall be kept at the Registered Office or at such other place or places as the Board thinks fit; provided that, if the records of account are kept at some
place outside Bermuda, there shall be kept at an office of the Company in Bermuda such records as are required by the Companies Acts to be so kept. The records of account shall at all times be open to inspection by the Directors and, to the extent
prescribed by the Companies Acts, by the Resident Representative. No Shareholder (other than an Officer) shall have any right to inspect any accounting record or book or document of the Company except as conferred by law or authorised by the Board
or by Resolution.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">124.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board shall procure that financial statements of the Company are prepared and audited in respect of each year or other period from time to time fixed by the Board and that those
financial statements are made available to Shareholders and laid before the Company in general meeting in accordance with the requirements of the Companies Acts.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="am468e33"></A>
AUDITORS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">125</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Auditors shall be appointed and their duties regulated in accordance with the Companies Acts, any other applicable law and such requirements not inconsistent with the Companies Acts
as the Board may from time to time determine.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="an468e33"></A>
UNTRACED SHAREHOLDERS</B></FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">126.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company shall be entitled to sell at the best price reasonably obtainable at the time of sale the shares of a Shareholder or the shares to which a person is entitled by
transmission if and provided that:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">126.1.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">during a period of 6 years no dividend in respect of those shares has been claimed and at least 3 cash dividends have become payable on the shares in question; </FONT></TD>
</TR>
</TABLE>

<P></P>
<P>&nbsp;</P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">126.1.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">on or after expiry of that period of 6 years the Company has inserted an advertisement in a newspaper circulating in the area of the last-registered address at which service of
notices upon the Shareholder or person entitled by transmission may be effected in accordance with these Bye-Laws and in a national newspaper published in the relevant country, giving notice of its intention to sell such shares;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">126.1.3</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">during that period of 6 years and the period of 3 months following the publication of such advertisement the Company has not received any communication from such Shareholder or
person entitled by transmission; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">126.1.4</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">if so required by the rules of any securities exchange upon which the shares in question are listed for the time being, notice has been given to that exchange of the Company's
intention to make such sale.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">126.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company's power of sale shall extend to any share which, on or before the date or first date on which any such advertisement appears, is issued in right of a share to which
Bye-law 126.1 applies.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">126.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">To give effect to any such sale the Board may authorise some person to transfer the shares to the purchaser who shall not be bound to see to the application of the purchase money
nor shall his title to the shares be affected by any irregularity or invalidity in the proceedings relating to the sale. The net proceeds of sale shall belong to the Company which shall be obliged to account to the former Shareholder or person
entitled by transmission for an amount equal to such proceeds and shall enter the name of such former Shareholder or person entitled by transmission in the books of the Company as a creditor for such amount. No trust shall be created in respect of
the debt, no interest shall be payable in respect of the same and the Company shall not be required to account for any money earned on the net proceeds, which may be employed in the business of the Company or invested in such investments as the
Board may from time to time think fit.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ao468e33"></A>
SERVICE OF NOTICES AND OTHER DOCUMENTS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">127.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any notice or other document (including a share certificate) may be served on or delivered to any Shareholder by the Company either personally or by sending it through the post (by
air mail where applicable) in a pre-paid letter addressed to such Shareholder at his address as appearing in the Register or by delivering it to or leaving it at such registered address. Any notice may also be served on any Shareholder by the
Company by sending it to him by electronic means to such addressee (including any appropriate identification name or number) as he may from time to time notify to the Company for this purpose or as the Companies Acts may permit. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%" HEIGHT="39"><FONT FACE="Times New Roman, Times, serif" SIZE="2">127.2</FONT></TD>
<TD COLSPAN="3" HEIGHT="39"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any notice or other document which is sent by post (or air mail) shall be deemed to have been served or delivered on the second day after it was put in the post and, in
proving such service or delivery, it shall be sufficient to prove that the notice or document was properly addressed, stamped and put in the post. Any notice or other</FONT></TD>
</TR>
</TABLE>

<P ALIGN="left"></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">document not sent by post but left at a registered address shall be deemed to have been served or delivered on the day it was so left. Any notice sent by electronic means during
normal business hours on any business day shall be deemed to have been served on the day on which it is sent and any notice so sent at any other time shall be deemed to have been served on the next day which is a normal business day (normal business
hours and business days being ascertained for this purpose by reference to such hours and days in the place or territory to which the notice is so sent).</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">128.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If at any time, by reason of the suspension or curtailment of postal services within Bermuda or any other territory, the Company is unable effectively to convene a general meeting
by notices sent through the post, a general meeting may be convened by a notice advertised in at least one national newspaper published in the territory concerned and such notice shall be deemed to have been duly served on each person entitled to
receive it in that territory on the day, or on the first day, on which the advertisement appears. In any such case the Company shall send confirmatory copies of the notice by post if at least five clear days before the meeting the posting of notices
to addresses throughout that territory again becomes practicable.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">129.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the case of joint holders of a share, service or delivery of any notice or other document on or to one of the joint holders shall for all purposes be deemed as sufficient service
on or delivery to all the joint holders.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">130.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the case of a person entitled by transmission to a share, any notice or other document shall be served on or delivered to him as if he were the holder of that share and his
address noted in the Register were his registered address. In any other case, any notice or other document delivered, sent or given to a Shareholder in any manner permitted by these Bye-Laws shall, notwithstanding that the Shareholder is then dead
or bankrupt or that any other event has occurred, and whether or not the Company has notice of the death or bankruptcy or other event, be deemed to have been duly served or delivered in respect of any share registered in the name of such Shareholder
as sole or joint holder.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">131.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A Shareholder shall not be entitled to receive any communication from the Company if 2 consecutive communications addressed to him, and properly served under these Bye-laws, have
been returned to the Company undelivered, but he shall again become entitled to receive communications following written notice from him to the Company of a new or corrected registered address. For the purposes of this Bye-law, references to a
communication include (without limitation) notices of general meetings and any cheque or other instrument of payment or attempted payment by a funds transfer system; but nothing in this Bye-Law shall entitle the Company to cease sending any cheques,
warrants or orders or otherwise to cease making any payments for dividends or other monies payable in respect of shares, unless it is so entitled under Bye-Law 115.1.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ap468e33"></A>
DESTRUCTION OF DOCUMENTS</B></FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board may authorise or arrange the destruction of documents held by the Company as follows:</FONT></TD>
</TR>
</TABLE>

<P></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.1.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">at any time after the expiration of 6 years from the date of registration, all instruments of transfer of shares and all other documents transferring or purporting to transfer
shares or representing or purporting to represent the right to be registered as the holder of shares on the faith of which entries have been made in the Register;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.1.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">at any time after the expiration of one year from the date of cancellation, all registered share certificates which have been cancelled;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.1.3</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">at any time after the expiration of 2 years from the date of recording them, all dividend mandates and notifications of change of address; </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.1.4</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">at any time after the expiration of one year from the date of actual payment, all paid dividend warrants and cheques</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.1.5</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">at any time after the expiration of one year from the general meeting at which it last could be used, any form of proxy.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">It shall conclusively be presumed in favour of the Company that:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.2.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">every entry in the register purporting to have been made on the basis of an instrument of transfer or other document so destroyed was duly and properly made;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.2.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">every instrument of transfer so destroyed was a valid and effective instrument duly and properly registered;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.2.3</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">every share certificate so destroyed was a valid certificate duly and properly cancelled;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.2.4</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">every other document mentioned in Bye-law 132.1 above so destroyed was a valid and effective document in accordance with the particulars of it recorded in the books and records of
the Company; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.2.5</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">every paid dividend warrant and cheque so destroyed was duly paid.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.3 </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The provisions of Bye-law 132.2 shall apply only to the destruction of a document in good faith and without notice of any claim (regardless of the parties to it) to which the
document might be relevant. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Nothing in this Bye-Law 132 shall be construed as imposing on the Company or the Board any liability in respect of the destruction of any document earlier than as stated in Bye-law
132.1 above or in any other circumstances in which liability would not attach to the Company or the Board in the absence of this Bye-Law 132. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">132.5</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">References in this Bye-Law 132 to the destruction of any document include references to its disposal in any manner. </FONT></TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="aq468e33"></A>
WINDING UP</B></FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">133.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If the Company is wound up, the liquidator may, with the sanction of a Resolution and any other sanction required by the Companies Acts:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">133.1</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">divide among the Shareholders in cash or in kind the whole or any part of the assets of the Company (whether they consist of property of the same kind or not) and for such purposes
set such value as he deems fair on any property to be so divided and determine how such division shall be carried out as between the Shareholders or different classes of Shareholders; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">133.2</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">vest the whole or any part of such assets in trustees upon such trusts for the benefit of the contributories as the liquidator, with the like sanction, thinks fit, but so that no
Shareholder shall be compelled to accept any shares or other assets upon which there is any liability.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="ar468e33"></A>
EXEMPTION AND INDEMNIFICATION OF OFFICERS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">134.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject always to Bye-law 134.5, no Officer shall be liable for the acts, receipts, neglects or defaults of any other Officer nor, so long as he has acted honestly and in good faith
with a view to the best interests of the Company, shall any Officer be liable in respect of any negligence, default or breach of duty on his own part in relation to the Company or any subsidiary of the Company, or for any loss, misfortune or damage
which may happen, in or arising out of the actual or purported execution or discharge of his duties or the exercise or purported exercise of his powers or otherwise in relation to or in connection with his duties, powers or office.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">134.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject always to Bye-law 134.5, every Officer shall be indemnified out of the funds of the Company against all liabilities, losses, damages or expenses (including but not limited
to liabilities under contract, tort and statute or any applicable foreign law or regulation and all legal and other costs and expenses properly payable) arising out of the actual or purported execution or discharge of his duties or the exercise or
purported exercise of his powers or otherwise in relation to or in connection with his duties, powers or office (including but not limited to liabilities attaching to him and losses arising by virtue of any rule of law in respect of any negligence,
default, breach of duty or breach of trust of which he may be guilty in relation to the Company or any subsidiary of the Company).</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">134.3</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Board shall have power to purchase and maintain insurances for the benefit of any persons who are or were at any time Officers or employees of the Company, or of any other
company which is its holding company or of any other company which is a subsidiary of the Company or such holding company or in which the Company or such holding company has any direct or indirect interest, including (without limitation) insurance
against any liability incurred by such persons in respect of any act or omission in the actual or purported performance of their duties or powers or offices in relation to the Company or such other company.</FONT></TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">134.4</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In this Bye-Law 134 (i) the term &quot;Officer&quot; includes, in addition to the persons specified in the definition of that term in Bye-Law 1, the Resident Representative, a
member of a committee constituted under Bye-Law 95 and any person acting as an Officer or committee member in the reasonable belief that he has been so appointed or elected, notwithstanding any defect in such appointment or election; and (ii) where
the context so admits, references to an Officer include the estate and personal representatives of a deceased Officer or any such other person.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">134.5</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The provisions for exemption from liability and indemnity contained in this Bye-Law shall have effect to the fullest extent permitted by law, but shall not extend to any matter
which would render any of them void pursuant to the Companies Acts.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">135.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">To the extent that any person is entitled to claim an indemnity pursuant to these Bye-Laws in respect of an amount paid or discharged by him, the relevant indemnity shall take
effect as an obligation of the Company to reimburse the person making such payment (including advance payments of fees or other costs) or effecting such discharge.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">135.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The rights to indemnification and reimbursement of expenses provided by these Bye-Laws are in addition to any other rights to which a person may be entitled.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>
<A NAME="as468e33"></A>
ALTERATION OF BYE-LAWS</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">136.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">These Bye-Laws may be revoked or amended only by the Board, which may from time to time revoke or amend them in any way by a resolution of the Board passed by a majority of the
Directors then in office and eligible to vote on that resolution, but no such revocation or amendment shall be operative unless and until it is approved at a subsequent general meeting of the Company by a Resolution approved by (subject to Bye-Law
136.2) majority vote of the Shareholders. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="7%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">136.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Unless the Board has, by a resolution passed by a majority of the Directors then in office and eligible to vote on that resolution, approved a revocation or amendment of Bye-laws
77, 78, 79, 80, 81, 82, or this Bye-Law 136 the revocation or amendment will not be effective unless approved by a Resolution in favour of which Shareholders holding not less than 80 per cent. of the issued shares of the Company carrying the right
to vote at general meetings at the relevant time have voted.</FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></P>
<UL></UL>
 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>4
<FILENAME>dex41.htm
<DESCRIPTION>SPECIMEN CERTIFICATE FOR CLASS A COMMON SHARES
<TEXT>

<HTML>
<HEAD>
 <TITLE>SPECIMEN CERTIFICATE FOR CLASS A COMMON SHARES</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">
<P ALIGN="right"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Exhibit 4.1</FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="1" CELLPADDING="1">
<TR>
<TD WIDTH="6%">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;Number</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">ACN</FONT></P>
</TD>
<TD WIDTH="26%" VALIGN="bottom">
<P>&nbsp;</P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">[Accenture logo]</FONT></P>
</TD>
<TD WIDTH="11%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="25%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Registered under the Laws of Bermuda
<BR>

<BR>
The share(s) represented by this certificate are transferable in Canton, MA, Jersey City, NJ or New York City, NY through EquiServe Trust Company, N.A. or in Hamilton, Bermuda through Reid Management Ltd.</FONT></TD>
<TD WIDTH="1%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="31%">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">Class A Common Shares
<BR>
Par Value US$0.0000225</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Shares</B></FONT></P>

<P>&nbsp;</P>

<P>&nbsp;</P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">CUSIP G1150G 11 1
<BR>
See Reverse For Certain Definitions</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="6%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3">
<P>&nbsp;</P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">This certifies that</FONT></P>

<P>&nbsp;</P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> is the registered holder of</FONT></P>

<P>&nbsp;</P>
</TD>
<TD WIDTH="1%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="31%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="6%"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">fully paid Class A Common Shares of<B>
<BR>
<FONT SIZE="3">Accenture Ltd</FONT></B>
<BR>
transferable only on the register of shareholders of the Company by the holder in person or by attorney duly authorized, upon surrender of this certificate duly endorsed and signed for transfer. The shares represented by this certificate are subject
to the laws of Bermuda and to the memorandum of continuance and bye-laws of the Company. This certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar.
<BR>
Witness the facsimile seal of the Company and the facsimile signatures of its duly authorized officers.</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">Dated:</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Countersigned and Registered:
<BR>
<B>EquiServe Trust Company, N.A.</B>
<BR>
Transfer Agent and Registrar,
<BR>
</FONT></P>
</TD>
<TD WIDTH="1%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="31%" VALIGN="middle" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">
<BR>

<BR>

<BR>

<BR>

<BR>

<BR>
[seal of the
<BR>
Company]</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%" HEIGHT="21"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></TD>
<TD WIDTH="26%" HEIGHT="21" VALIGN="bottom">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">By /s/ Charles V. Rossi</FONT></P>
</TD>
<TD COLSPAN="3" HEIGHT="21" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ Joe W. Forehand</FONT></TD>
<TD HEIGHT="21" VALIGN="bottom" WIDTH="31%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ Douglas G. Scrivner</FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="6%" VALIGN="top"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></TD>
<TD WIDTH="26%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signature&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
<TD COLSPAN="3" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Chief Executive Officer and
<BR>
Chairman of the Board of Directors</FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="31%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">General Counsel and Secretary</FONT></TD>
</TR>
</TABLE>

<P ALIGN="center"><FONT SIZE="+1"><B><FONT FACE="Times New Roman, Times, serif" SIZE="3">Accenture Ltd</FONT></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif"> <FONT SIZE="2">The Company will furnish without charge to each shareholder who so requests, a copy of the designations, powers, preferences and relative, participating, optional or other special rights
of each class of shares of the Company or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights. Any such requests may be addressed to the Secretary of the Company.</FONT></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws and
regulations:</FONT></P>
<TABLE WIDTH="96%" BORDER="0" CELLSPACING="1" CELLPADDING="1">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="10%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">TEN COM </FONT></TD>
<TD WIDTH="23%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">- as tenants in common</FONT></TD>
<TD WIDTH="3%"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">CUST</FONT></TD>
<TD WIDTH="34%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">- as custodian for a minor</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="10%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">TEN ENT </FONT></TD>
<TD WIDTH="23%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">- as tenants by the entireties</FONT></TD>
<TD WIDTH="3%"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="30%">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">UNIF GIFT MIN ACT_______
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (state)</FONT></P>
</TD>
<TD WIDTH="34%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">- under the Uniform
<BR>
Gifts to Minors Act of_______
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (state) </FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="10%" HEIGHT="27"><FONT FACE="Times New Roman, Times, serif" SIZE="2">JT TEN</FONT></TD>
<TD WIDTH="23%" HEIGHT="27"><FONT FACE="Times New Roman, Times, serif" SIZE="2">- as joint tenants with right of survivorship and not as tenants in common</FONT></TD>
<TD WIDTH="3%" HEIGHT="27"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="30%" HEIGHT="27"><FONT FACE="Times New Roman, Times, serif" SIZE="2">UNIF TRAN MIN ACT_______
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(state)
<BR>
</FONT></TD>
<TD WIDTH="34%" HEIGHT="27">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">- under the Uniform
<BR>
Transfers to Minors Act of______
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp; (state)</FONT></P>
</TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Additional abbreviations may also be used though not in the above list. </FONT></P>
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">For value received, _______________________hereby sell, assign and transfer unto </FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="1" CELLPADDING="1">
<TR>
<TD WIDTH="45%"> <DIV ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">PLEASE INSERT SOCIAL SECURITY OR OTHER
<BR>
IDENTIFYING NUMBER OF ASSIGNEE</FONT></DIV>
</TD>
<TD WIDTH="5%"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="25%"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="25%"><FONT SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="45%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2"><FONT SIZE="2"></FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"> <HR NOSHADE WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD COLSPAN="4"> <DIV ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE)</FONT></DIV>
</TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"> <HR NOSHADE WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"> <HR NOSHADE WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD WIDTH="45%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="25%"><FONT SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="bottom" WIDTH="25%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Class A Common Shares</FONT></TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3" VALIGN="top"> <DIV ALIGN="right"> <HR NOSHADE WIDTH="100%" SIZE="1"> <DIV ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">represented by this certificate, and do hereby irrevocably constitute and appoint</FONT></DIV>
</DIV>
</TD>
<TD WIDTH="25%"><FONT SIZE="2"></FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"> <HR NOSHADE WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Attorney to transfer such Shares registered on the books of the Company with full power of substitution in the premises.</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Dated</FONT></TD>
</TR>
<TR>
<TD ALIGN="right" WIDTH="45%"> <HR NOSHADE WIDTH="85%" SIZE="1"> </TD>
<TD ALIGN="right" WIDTH="5%"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2" ALIGN="left"> <HR NOSHADE WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Signature(s) Guaranteed</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR>
<TD WIDTH="45%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">By</FONT></TD>
<TD WIDTH="5%"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2"><FONT SIZE="2"></FONT></TD>
</TR>
<TR>
<TD ALIGN="right" WIDTH="45%"> <HR NOSHADE WIDTH="90%" SIZE="1"> </TD>
<TD ALIGN="right" WIDTH="5%"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2" ALIGN="left"> <HR NOSHADE WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="45%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15. </FONT></TD>
<TD WIDTH="5%"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THIS CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT, OR
ANY CHANGE WHATEVER. </FONT></TD>
</TR>
</TABLE>
<P>&nbsp;</P>
 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>5
<FILENAME>dex51.htm
<DESCRIPTION>OPINION OF APPLEBY SPURLING & KEMPE
<TEXT>

<HTML>
<HEAD>
 <TITLE>OPINION OF APPLEBY SPURLING &amp; KEMPE</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">

<P ALIGN=right>&nbsp;</P>
<P ALIGN=right>Exhibit 5.1</P>
<P ALIGN=right>29 June 2001</P>

<P ALIGN=LEFT>Accenture Ltd
<BR>
Cedar House
<BR>
41 Cedar Avenue
<BR>
Hamilton HM12
<BR>
Bermuda</P>

<P ALIGN=LEFT>Dear Sirs</P>

<P ALIGN=LEFT><U><B>Accenture Ltd (the &#147;Company&#148;)</B></U></P>

<P>We have acted as legal counsel in Bermuda to the Company in connection with the preparation and filing by the Company with the Securities and Exchange Commission under the Securities Act of 1933 of a registration statement (the &#147;Registration
Statement&#148;) on Form S-1 in relation to an offer (the &#147;Offer&#148;) by the Company of 115,000,000 class A common shares of par value US$0.0000225 each in the Company (&#147;Class A Common Shares&#148;) and (if the over-allotment option
referred to in the Registration Statement is exercised) up to an additional 17,250,000 Class A Common Shares.</P>
<P>The aggregate of 132,250,000 Class A Common Shares are collectively referred to as the &#147;Company Shares&#148;.</P>
<P>Unless otherwise defined in this opinion or the schedule to it, capitalised terms have the meanings assigned to them in the Registration Statement.</P>
<P>For the purposes of this opinion we have examined and relied upon the documents listed (which, in some cases, are also defined) in the Schedule to this opinion (the &#147;Documents&#148;). </P>
<P ALIGN=LEFT><U><B>Assumptions</B></U></P>
In stating our opinion we have assumed:
<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(a) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>the authenticity, accuracy and completeness of all Documents (including, without limitation, public records) submitted to us as originals and the conformity to authentic original Documents of all Documents submitted to us as certified,
electronic or photostatic copies; </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(b) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>the genuineness of all signatures on the Documents; </P>
</TD>
</TR>
</TABLE>
<P></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(c) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>the authority, capacity and power of each of the persons signing the Documents (other than directors or officers of the Company); </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(d) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>that any factual statements made in any of the Documents are true, accurate and complete; </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(e) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>that there are no provisions of the laws or regulations of any jurisdiction other than Bermuda which would have any implication in relation to these opinions; </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(f) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>that the records which were the subject of the search made on 22 June 2001 of the Register of Companies at the office of the Registrar of Companies referred to in paragraph 6 of the Schedule to this opinion were complete and accurate
at the time of such search and disclosed all information which is material for the purposes of this opinion and such information has not since such date been materially altered; </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(g) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>the Resolutions are in full force and effect, have not been rescinded, either in whole or in part, and accurately record the resolutions passed by the shareholders of the Company in meetings which were duly convened and at which a duly
constituted quorum was present and voting throughout and that there is no matter affecting the authority of the directors to issue and allot the Company Shares, not disclosed by the Constitutional Documents or the Resolutions, which would have any
adverse implication in relation to the opinions expressed herein;</P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(h) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>that the price at which the Company Shares are agreed to be issued pursuant to the underwriting agreement as referred to in the Registration Statement is equal to or greater than their par value per share of US$0.0000225; and </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(i) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>that, immediately prior to its continuance into Bermuda on 21 February 2001, Accenture N.V. was a company limited by shares registered and existing under the laws of the Netherlands Antilles, with an authorised share capital of
US$30,000 divided into 30,000 shares of par value US$1.00 each, of which 16,000 shares were in issue, fully-paid and held jointly by Vernon J. Ellis, Michael G. McGrath, Karl-Heinz Fl&#246;ther, Joe W. Forehand, Stephan A. James and David Hunder as
the general partners of Accenture Holdings C.V.</P>
</TD>
</TR>
</TABLE>
<P></P>
<P ALIGN=LEFT><U><B>Opinion</B></U></P>
Based upon and subject to the foregoing, and subject to the reservations set out below and to any matters not disclosed to us, we are of the opinion that:
<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(1) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>The Company is an exempted company incorporated with limited liability and existing under the laws of Bermuda and is in good standing under the laws of Bermuda. </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(2) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>The Company Shares have been duly created as authorised but unissued Common Shares and, when duly resolved by the board of directors of the Company to be issued and allotted, and paid for, as contemplated by the underwriting agreements
as referred to in the Registration Statement, will be duly authorised, validly issued, fully-paid and non-assessable Class A Common Shares of the Company. </P>
</TD>
</TR>
</TABLE>
<P></P>

<P ALIGN=LEFT><B><U>Reservations</U></B></P>
We have the following reservations:
<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(a) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>We express no opinions as to any law other than Bermuda law and none of the opinions expressed in this opinion relates to compliance with or matters governed by the laws of any jurisdiction except Bermuda. This opinion is limited to
Bermuda law as applied by the courts of Bermuda at the date hereof. </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(b) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>Any reference in this opinion to shares being &#147;non-assessable&#148; shall mean, in relation to fully-paid Class A Common Shares, (subject to any contrary provision in any agreement between the Company and the holders of such
shares) that no holder of such Class A Common Shares shall be bound by an alteration of the memorandum of continuance or bye-laws of the Company after the date on which he became a shareholder, if and so far as the alteration requires him to take,
or subscribe for, additional shares, or in any way increases his liability to contribute to the share capital of, or otherwise to pay money to, the Company. </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(c) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>Searches of the Register of Companies at the office of the Registrar of Companies are not conclusive and it should be noted that the Register of Companies does not reveal: </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=8% ALIGN=RIGHT>(i) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=91%>
<P ALIGN=JUSTIFY>details of matters which have been lodged for filing or registration which as a matter of general practice of the Registrar of Companies would have or should have been disclosed on the public file but have not actually been
registered or to the extent that they have been registered have not been disclosed or do not appear in the public records at the date and time the search is concluded; or </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=8% ALIGN=RIGHT>(ii) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=91%>
<P ALIGN=JUSTIFY>details of matters which should have been lodged for registration but have not been lodged for registration at the date the search is concluded. </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(d) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>In order to issue this opinion we have carried out the search referred to in paragraph 7 of the Schedule to this opinion at 9:00 am on 22 June 2001 and have not enquired as to whether there has been any change since that time and date.
</P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(e) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>In this opinion, the term &#147;good standing&#148; means only that the Company has received a certificate of compliance from the Registrar of Companies in Hamilton, Bermuda. </P>
</TD>
</TR>
</TABLE>
<P></P>

<P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=3% ALIGN=left>(f) </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=94%>
<P ALIGN=LEFT>We have relied upon the contents of the documents referred to in paragraph 5 of the schedule to this opinion for the purposes of this opinion. We have made no independent verification of the matters stated in that document and we
qualify this opinion to the extent that the statements made in that document are not accurate in any respect. </P>
</TD>
</TR>
</TABLE>
<P></P>

<P ALIGN=LEFT><U><B>Disclosure</B></U></P>

<P>This opinion is addressed to you in connection with the filing by the Company of the Registration Statement with the Securities and Exchange Commission for the purposes of registering its Class A Company Shares under the Securities Act of 1933.
We consent to the filing of this opinion as an exhibit to the Registration Statement (including, for this purpose, any and all additional registration statements, and any and all amendments to them, relating to the same offering of securities as
those that are covered by the Registration Statement, that are filed pursuant to Rule 462(b) promulgated under the Securities Act of 1933 (as amended) with the Securities and Exchange Commission). We also consent to the reference to our name under
the heading &quot;Legal Matters&quot; in the Registration Statement in the form in which it appears. &nbsp;</P>
<P>This opinion is addressed to the Company solely for the benefit of the Company and (save as referred to in the preceding paragraph) is neither to be transmitted to any other person, nor relied upon by any other person or for any other purpose nor
quoted nor referred to in any public document nor filed with any governmental agency or person without our prior written consent, except as may be required by law. Further, this opinion speaks as of its date and is strictly limited to the matters
stated in it and we assume no obligation to review or update this opinion if applicable law or the existing facts or circumstances should change. &nbsp;</P>
<P>This opinion is governed by and is to be construed in accordance with Bermuda law. It is given on the basis that it will not give rise to any legal proceedings with respect thereto in any jurisdiction other than Bermuda. </P>
<P ALIGN=LEFT>Yours faithfully</P>
<P ALIGN=LEFT>/s/ Appleby Spurling &amp; Kempe</P>

<P ALIGN=CENTER><U><B>THE SCHEDULE</B></U></P>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="top">1. </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">
<P ALIGN=LEFT>An electronic copy of Amendment No. 2 to the Registration Statement (which includes a prospectus in relation to the Company)relating to the Offer (excluding the exhibits thereto).</P>
</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">2. </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">Certified copies dated 28 June 2001 of:-</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the resolutions of the sole shareholder of the Company passed on 12 April 2001;
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and </TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">2.2 &nbsp;&nbsp;&nbsp;&nbsp;minutes of a meeting of the shareholder of the Company held on 6 May 2001
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (together with a signed form of consent to the variation of the rights attaching
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to certain class X common shares of the Company dated 18 May 2001),</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(together, the &#147;Resolutions&#148;).</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">3.</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">Certified copies dated 28 June 2001 of:-</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the certificate of continuance of the Company;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">3.2 &nbsp;&nbsp;&nbsp;&nbsp;the memorandum of continuance of the Company; and</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the bye-laws of the Company,</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">(together, the &#147;Constitutional Documents&#148;).</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="top">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="bottom">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="top">4. </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">A copy of a letter dated 25 June 2001 evidencing the consent of the Bermuda Monetary Authority to the issue by the Company of the Company Shares. </TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="top">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="top">5.</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">
<P>An officer&#146;s certificate dated 28 June 2001 and issued by D. Randall as company secretary of the Company confirming details of the issued share capital of the Company as of that date.</P>
</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="top">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="top">6. </TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">The entries and filings shown in respect of the Company on the file of the Company maintained in the Register of Companies at the offices of the Registrar of Companies in Hamilton, Bermuda, as revealed by a search on 22
June 2001 in respect of the Company. </TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="top">&nbsp;</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">&nbsp;</TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=2% ALIGN=left VALIGN="top">7.</TD>
<TD WIDTH=3%></TD>
<TD WIDTH=82% VALIGN="top">A certificate of compliance dated 26 June 2001 issued by the Registrar of Companies, Hamilton, Bermuda in respect of the Company. </TD>
<TD WIDTH=13% VALIGN="bottom">&nbsp;</TD>
</TR>
</TABLE>

<P>&nbsp; </P>
 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>dex105.htm
<DESCRIPTION>FORM OF ARTICLES OF ASSOCIATION OF ACCENTURE SCA
<TEXT>

<HTML>
<HEAD>
 <TITLE>FORM OF ARTICLES OF ASSOCIATION OF ACCENTURE SCA</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">
<P>
<A NAME="TopOfPage"> </A>
</P>
<P ALIGN="right">Exhibit 10.5</P>
<HR NOSHADE ALIGN="center" WIDTH="80%" SIZE="1">
<P>&nbsp; </P>
<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="+2">ACCENTURE SCA</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="+2">Soci&eacute;t&eacute; en commandite par actions</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="+2">Si&egrave;ge social: 398, route d'Esch, L-1471 Luxembourg</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="+2">Registre de Commerce Luxembourg n&#176; B 79874</FONT></B></P>
<P ALIGN="CENTER">&nbsp;</P>
<UL>
<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="+2">STATUTS COORDONNES</FONT></B></P>
</UL>
<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="+2">&agrave; la date du 1<SUP>er</SUP>
juin 2001</FONT></B></P>
<P ALIGN="CENTER">&nbsp;</P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="+2">UPDATED ARTICLES OF ASSOCIATION</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="+2">as at June1<SUP>st</SUP>
, 2001</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman">ENGLISH VERSION</FONT></B></P>
<P><B><FONT FACE="Times New Roman">Article 1 - Form</FONT></B></P>

<P><FONT FACE="Times New Roman">There exists among Accenture Ltd, a company limited by shares organised under the laws of Bermuda, being the general partner (<I>g&eacute;rant</I> <I>commandit&eacute;</I>) (the &quot;General Partner&quot; or
&quot;Accenture Ltd&quot;) of <B>Accenture SCA</B>, a partnership limited by shares (<I>soci&eacute;t&eacute; en<B> </B>commandite par actions</I>) (hereinafter referred to as the &quot;Company&quot;)<B> </B>and Accenture Minority IV, Ltd, a
Gibraltar company being the current limited shareholder (<I>associ&eacute; commanditaire</I>) of the Company and all those persons who shall become limited shareholders (<I>associ&eacute;s commanditaires</I>) (the &quot;Limited Shareholders&quot;)
of the Company.</FONT></P>

<P><FONT FACE="Times New Roman">Hereinafter the Limited Shareholders and the General Partner will be referred to individually as a Shareholder and collectively as the Shareholders.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 2 - Term</FONT></B></P>

<P><FONT FACE="Times New Roman">The Company is incorporated for an unlimited period of time. However, the Company shall come to an end in the event of a resolution to dissolve the Company adopted at a general meeting of Shareholders deciding in
compliance with the conditions of quorum and majority required for amendments to the Articles of Association. The Company shall not end in the event of the resignation, dissolution, bankruptcy or insolvency of the General Partner.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 3 - Purposes</FONT></B></P>

<P><FONT FACE="Times New Roman">The Company shall have as its business purpose the holding of participations, in any form whatsoever, in Luxembourg and foreign companies, the acquisition by purchase, subscription, or in any other manner as well as
the transfer by sale, exchange or otherwise of stock, bonds, debentures, notes and other securities of any kind, and the ownership, administration, development and management of its participations and of its asset portfolio.</FONT></P>

<P><FONT FACE="Times New Roman">The Company may carry on any commercial, industrial and/or financial activity or maintain a commercial establishment open to the public. The Company may participate directly on indirectly in the establishment and
development of any financial, industrial or commercial enterprises in Luxembourg and abroad and it may render them every assistance, whether of a financial nature or not, such as, without limitation, the granting of loans or advances, guarantees for
their benefit or other forms of assistance. The Company may borrow in any form and proceed to the issuance of bonds and notes whether or not convertible or exchangeable in shares of the Company or into shares of other companies.</FONT></P>

<P><FONT FACE="Times New Roman">The Company may enter into and perform under global alliances and marketing arrangements and any other contracts aimed at promoting and furthering the development and the operation of the Accenture group, including
but not limited to actions involving or relating to staff of any and all affiliated group companies.</FONT></P>

<P><FONT FACE="Times New Roman">In general, it may take any controlling and supervisory measures and carry out any operation which it may deem useful for the accomplishment and development of its purposes.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 4 - Registered office</FONT></B></P>

<P><FONT FACE="Times New Roman">The registered office of the Company is established in Luxembourg City, Grand Duchy of Luxembourg. The General Partner may establish branches or other offices either in Luxembourg or abroad.</FONT></P>

<P><FONT FACE="Times New Roman">In the event that the General Partner determines that extraordinary political, economic or social developments have occurred or are imminent that interfere or are likely to interfere with the normal activities of the
Company at its registered office, or with the ease of communication between such office and persons abroad, the registered office may be temporarily transferred abroad until the complete cessation of these extraordinary circumstances; such temporary
measures shall have no effect on the nationality of the Company which, notwithstanding the temporary transfer of its registered office, will remain a Luxembourg partnership limited by shares.</FONT></P>

<P>&nbsp;</P>
<P><B><FONT FACE="Times New Roman">Article 5 - Capital</FONT></B></P>
<P><FONT FACE="Times New Roman">The Company has a subscribed, issued and fully paid nominal share capital of <B>EUR</B> <B>1,529,427,785</B> (one billion five hundred twenty-nine million&nbsp;four hundred twenty-seven thousand seven hundred
eighty-five Euro) divided into shares (<I>actions de commandit&eacute;</I>) held by the General Partner and having a par value of one Euro and twenty-five cents (EUR 1.25) each and shares (<I>actions de commanditaires</I>) held by the Limited
Shareholder(s) having a par value of one Euro and twenty-five cents (EUR 1.25) each.<B> </B>The Shares are divided into <B>752,583,920</B> (seven hundred fifty-two million five hundred eighty-three thousand nine hundred twenty) Class I Common Shares
(&quot;Class I Common Shares&quot;) and <B>470,958,308</B> (four hundred seventy million nine hundred fifty-eight thousand three hundred eight) Class II Common Shares (&quot;Class II Common Shares&quot;) having the same characteristics and rights
save as to those differences outlined in these Articles of Association. The Class I Common Shares and the Class II Common Shares are individually referred to as a &quot;Share&quot; and collectively as the &quot;Shares&quot;. The Class I Common
Shares and Class II Common Shares are issued as redeemable shares in accordance with the terms of article 49-8 of the law of 10th August, 1915, on commercial companies, as amended (the &quot;Law&quot;), and the redemption features laid down in
Article 7 hereof shall apply thereto.</FONT></P>

<P><FONT FACE="Times New Roman">An extraordinary meeting of Shareholders, resolving in the manner required for the amendment of these Articles of Association, and with the consent of the General Partner, may increase the subscribed and issued
capital.</FONT></P>

<P><FONT FACE="Times New Roman">Notwithstanding the preceding paragraph, the General Partner of the Company is authorised and empowered to render effective an increase of the subscribed and issued capital, in whole or in part, from time to time,
within a period starting as of May 5, 2001, and expiring on the fifth anniversary of such date, by issuing shares representing such whole or partial increase of the capital up to the total amount of the authorised share capital and for the number
and classes of Shares being the object of the authorisation. The General Partner shall accept subscriptions for such shares.</FONT></P>

<P><FONT FACE="Times New Roman">In connection with this authorisation to increase the capital and in compliance with article 32-3 (5) of the Law, the General Partner of the Company is authorised, at its discretion, to waive entirely or partially or
to limit, or to set conditions in respect of any preferential subscription rights of the existing Shareholders for the same period of five years and to determine the amount of issue premium (if any) which will have to be paid by the subscriber(s) in
the context of this capital increase.</FONT></P>

<P><FONT FACE="Times New Roman">Class I Common Shares are convertible into Class II Common Shares by a resolution of an extraordinary meeting of Shareholders resolving in the manner required for amendments of these Articles of Association. The
conversion ratio shall be 1 Class I Common Share for 10 Class II Common Shares. Upon such resolution, the nominal capital shall be increased by EUR 11.25 per Class I Common Share so converted and Class II Common Shares shall be issued in accordance
with the conversion ratio in replacement of the Class I Common Shares so converted.</FONT></P>

<P><FONT FACE="Times New Roman">Class II Common Shares are convertible into Class I Common Shares by a resolution of an extraordinary meeting of shareholders resolving in the manner required for amendments of these Articles of Association. The
conversion ratio shall be 10 Class II Common Shares for 1 Class I Common Share. Upon such resolution, the nominal capital shall be reduced by EUR 11.25 per 10 Class II Common Shares so converted and the amount of the nominal share capital reduction
shall be allocated to the share premium reserve of the Company. In addition, additional Class I Common Shares shall be issued in accordance with the conversion ratio in replacement of the Class II Common Shares so converted.</FONT></P>

<P></P>

<P><FONT FACE="Times New Roman">The authorised capital of the Company is set at EUR 50,000,000,000 consisting of 20,000,000,000 Class I Common Shares of a par value of one euro and twenty-five cents (EUR 1.25) each and of 20,000,000,000 Class II
Common Shares of a par value of one euro and twenty-five cents (EUR 1.25) each.</FONT></P>

<P><FONT FACE="Times New Roman">The General Partner is authorised and empowered to issue Class I Common Shares and/or Class II Common Shares from time to time in one or several series bearing different numbers or letters in order to identify
them.</FONT></P>

<P><FONT FACE="Times New Roman">The authorisation granted to the General Partner includes the authorisation to issue Shares to itself.</FONT></P>

<P><FONT FACE="Times New Roman">The General Partner is hereby authorised and empowered to determine the conditions attaching to any subscription of Shares, and it may, from time to time, effect such whole or partial increase upon the conversion of
any net profit of the Company into capital and the attribution of fully-paid Shares to Shareholders in lieu of dividends.</FONT></P>

<P><FONT FACE="Times New Roman">The General Partner is further authorised to cause the Company to issue warrants, convertible bonds or assimilated instruments or bonds with warrants or subscription rights or to issue any financial instruments
convertible into Shares under the terms and conditions to be set by the General Partner.</FONT></P>

<P><FONT FACE="Times New Roman">Each time the General Partner shall act to render effective the increase of capital, as authorised, Article 5 of the Articles of Association of the Company shall be amended so as to reflect the result of such action
and the General Partner shall take or authorise any person to take any necessary steps for the purpose of the recording and publication of such increase and such amendment.</FONT></P>

<P><FONT FACE="Times New Roman">The Company recognises only one holder per Share; in case a Share is held by more than one person, the Company has the right to suspend the exercise of all rights attached to that Share until one person is appointed
or designated by the joint holders as the sole owner in relation to the Company. </FONT></P>

<P><FONT FACE="Times New Roman">The Shares of the Company are and they continue to stay in registered form. The Shares are not certificated, but a certificate (<I>certificat d'inscription nominative</I>) witnessing the registration of the relevant
Shareholder in the share register of the Company and the number of Shares held by it shall be issued by the Company on request of the Shareholder.</FONT></P>

<P><FONT FACE="Times New Roman">A share register shall be kept at the registered office of the Company and, to the extent the General Partner shall so decide, with a transfer agent and registrar. Such register shall set forth the name of each
Shareholder, its residence or elected notice address, the number of Shares held by it, the class of Shares, the amounts paid in on each such Share, the transfers of Shares and the dates of such transfers.</FONT></P>

<P><FONT FACE="Times New Roman">Unpaid amounts, if any, on issued and outstanding Shares may be called at any time at the discretion of the General Partner, provided however that calls shall be made on all the Shares in the same proportion and at
the same time. Any sum, the payment of which is in arrear, automatically attracts interest in favour of the Company at the rate of ten per cent (10%) per year or such other rate as may be determined by the General Partner from time to time
calculated from the date when the payment was due until the date of the actual payment.</FONT></P>
<P>&nbsp; </P>

<P><B><FONT FACE="Times New Roman">Article 6 - Transfer of Shares</FONT></B></P>

<P><FONT FACE="Times New Roman">Except for a redemption made pursuant to Article&nbsp;7, no Transfer (as defined below) of Shares of the Company by a Limited Shareholder shall be made unless the Supervisory Board of the Company or its delegate shall
have given its prior approval to a contemplated Transfer.</FONT></P>

<P><FONT FACE="Times New Roman">If a Limited Shareholder wants to transfer or dispose of all or part of its shares in the Company or of all or part of the rights attached thereto, in any form whatsoever, including, without limitation, via a sale,
gift, pledge or some other form of encumbrance or otherwise (a &quot;Transfer&quot;), it must submit a written application beforehand to the Supervisory Board or its delegate by registered mail with acknowledgement of receipt or any other means
approved by the Supervisory Board or its delegate. A Transfer application shall contain the name of the contemplated transferee, the contemplated sale price or consideration as well as any other relevant information. </FONT></P>

<P><FONT FACE="Times New Roman">The decision of the Supervisory Board will be made known to the applicant as soon as reasonably practicable after it shall have been taken. The Supervisory Board or its delegate's decision in respect of the
application must be made known to the Limited Shareholder by registered mail with acknowledgement of receipt or any other means approved by the General Partner.</FONT></P>

<P><FONT FACE="Times New Roman">Any Transfer not made in compliance with the terms hereof shall, with respect to the Company, be deemed to be null and void and the Company shall not proceed with the registration of any transferee in the share
register unless (i) the Transfer to such transferee has been approved in writing by the Supervisory Board or its delegate and (ii) the transferee shall have signed any and all relevant documents as may be required by the Supervisory Board or its
delegate.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 7 - Redemption of Shares</FONT></B></P>

<P><FONT FACE="Times New Roman">The Company is authorised to redeem Class II Common Shares or any series thereof at the request of the General Partner and upon the written approval of the Supervisory Board in accordance with the procedures laid down
in Article 16 hereto. If the redemption of the Class II Common Shares or of a series thereof will be done in the context of or accompanied by a share capital reduction of the Company, the redemption of Class II Common Shares or a series thereof must
in addition be approved by a resolution at a meeting of Shareholders passed by a two thirds majority of those present and voting including the consent of the General Partner.</FONT></P>

<P><FONT FACE="Times New Roman">Subject to any contractual restrictions on Transfer by a holder set forth in any contract or agreement to which the Company or any of its affiliates is a party, Class I Common Shares shall be redeemable for cash at
the option of the holder by the giving of irrevocable notice of an election for redemption to the Company. </FONT></P>

<P><FONT FACE="Times New Roman">Notwithstanding the preceding paragraph, at the option of the Company represented by the General Partner, the redemption price payable to any Limited Shareholder that becomes a Limited Shareholder after May 31, 2001
(or such other date that the Supervisory Board shall declare to be the date of the consummation of the Accenture group of companies' transition to a corporate structure) (a &quot;Subsequent Limited Shareholder&quot;) in connection with any
redemption under this Article 7 may be paid in cash or in Accenture Ltd Class A Common Shares and any holder and the Company may agree that the Company may redeem such holder's Class I Common Shares for different consideration.</FONT></P>

<P><FONT FACE="Times New Roman">At the request of the General Partner, the Company is authorised to redeem any Class I Common Share or any series held by any Subsequent Limited Shareholder for Accenture Ltd Class&nbsp;A Common Shares if the Company
receives a satisfactory opinion from an internationally recognized counsel or professional tax advisor that such redemption should be tax-free with respect to such Subsequent Limited Shareholder. If the redemption of the Class I Common Share will be
done in the context of or accompanied by a share capital reduction of the Company, the redemption must in addition be approved by a resolution at a meeting of Shareholders passed by a two-thirds majority of those present and voting, including the
consent of the General Partner.</FONT></P>

<P></P>

<P><FONT FACE="Times New Roman">The redemption price for a Class I Common Share to be paid in Accenture Ltd Class A Common Shares shall equal a number of Accenture Ltd Class A Common Shares equal to the Valuation Ratio (as defined below). The
redemption price for a Class I Common Share to be paid in cash shall equal the Valuation Ratio multiplied by the Market Price of an Accenture Ltd Class A Common Share (as defined below) as of the U.S. trading day following the United States trading
day on which the Company receives a notice of an election for redemption with respect to such Class I Common Share.</FONT></P>

<P><FONT FACE="Times New Roman">Notwithstanding anything to the contrary, (i) no redemption at the option of a holder may be made prior to the time that the Accenture Ltd Class A Common Shares shall have been listed for trading on the New York Stock
Exchange and (ii) the Company may refuse to honor a request for redemption at any time or during any period, including, without limitation, during a so-called &quot;blackout period&quot; (and the Class I Common Shares shall not be redeemable at such
time or during such period), if the Company determines, based on the advice of counsel (which may be inside counsel), that there is material non-public information that may affect the Average Price Per Share (as defined below) at such time or during
such period.</FONT></P>

<P><FONT FACE="Times New Roman">For the purposes of the Articles of Association a Luxembourg business day shall mean a day on which banks are ordinarily open for business in the City of Luxembourg, Luxembourg.</FONT></P>

<P><FONT FACE="Times New Roman">The Company may adopt reasonable procedures for the implementation of the redemption provisions set forth in this Article 7, including, without limitation, procedures for the giving of notice of an election for
redemption.</FONT></P>
<P><FONT FACE="Times New Roman"></FONT><B><FONT FACE="Times New Roman">Article 8 - Liability of Shareholders</FONT></B></P>

<P><FONT FACE="Times New Roman">The Limited Shareholders are only liable up to the amount of their capital contribution made to the Company.</FONT></P>

<P><FONT FACE="Times New Roman">The General Partner's liability is and shall be unlimited. </FONT></P>

<P><B><FONT FACE="Times New Roman">Article 9 - Meetings of Shareholders</FONT></B></P>

<P><FONT FACE="Times New Roman">The annual general meeting of Shareholders shall be held, in accordance with Luxembourg law, in Luxembourg at the registered office of the Company, or at such other place in Luxembourg as may be specified in the
notice of meeting, on January 15 at 12:00 noon. If such day is not a Luxembourg business day, the annual general meeting shall be held on the next following Luxembourg business day.</FONT></P>

<P><FONT FACE="Times New Roman">Other meetings of Shareholders may, subject to applicable law, be held at such place and at such time as may be specified by the General Partner in the respective notices of meeting.</FONT></P>

<P><FONT FACE="Times New Roman">All general meetings shall be chaired by the General Partner.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 10 - Notice, quorum, proxies, majority</FONT></B></P>

<P><FONT FACE="Times New Roman">The notice periods and quorum rules required by the Law shall apply with respect to the meetings of Shareholders of the Company, as well as with respect to the conduct of such meetings, unless otherwise provided
herein.</FONT></P>

<P><FONT FACE="Times New Roman">Each Share is entitled to one vote. A Shareholder may act at any meeting of Shareholders by appointing another person in writing (whether in original or by telefax, cable, telegram or telex), whether a Shareholder or
not, as its proxy.</FONT></P>

<P></P>

<P><FONT FACE="Times New Roman">Except as otherwise required by law or by these Articles of Association, resolutions at a meeting of Shareholders will be passed by a simple majority of those Shares represented and voting at the meeting and with the
consent of the General Partner.</FONT></P>

<P><FONT FACE="Times New Roman">The following matters shall require a quorum (if and when required as a matter of the Law) of half of the Company's issued and outstanding Shares and a two-thirds majority vote of those Shares represented and voting
at the meeting: </FONT></P>

<TABLE WIDTH="85%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%"><FONT FACE="Times New Roman">(i)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">amendment of these Articles of Association;</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%"><FONT FACE="Times New Roman">(ii)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">dissolution and the liquidation of the Company;</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" VALIGN="top"><FONT FACE="Times New Roman">(iii)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">setting of the authorised share capital and the authorisation given to the General Partner to increase the Company's share capital within the limits of the authorisation; </FONT></TD>
</TR>
<TR>
<TD WIDTH="3%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="1%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="96%" HEIGHT="22">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%"><FONT FACE="Times New Roman">(iv)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">decrease of the Company's share capital; and </FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%"><FONT FACE="Times New Roman">(v)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">sale of all or substantially all of the Company's assets.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman">The following matters shall require a unanimous resolution of all the Shareholders of the Company: </FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%" VALIGN="top"><FONT FACE="Times New Roman">(i)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">the redomestication of the Company (i.e. its migration) by the change of the nationality of the Company; and </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman">(ii)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">the assessment of the Shareholders.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman">The Shares shall, as a rule, vote as a single class. Matters adversely affecting the rights of the holders of a specific share class only shall require a quorum (if and when required as a matter of the Law) of half of
the class' issued and outstanding Shares and a two-thirds majority vote of the Shares of that share class and, in respect of such matters but only in respect of such matters, the holders shall vote as a separate class.</FONT></P>
<P><B><FONT FACE="Times New Roman">Article 11 - Convening notice</FONT></B></P>

<P><FONT FACE="Times New Roman">Shareholders' meetings shall be convened by the General Partner or by the Supervisory Board, pursuant to a notice setting forth the agenda and sent by registered mail at least eight days prior to the meeting to each
Shareholder at the Shareholder's notice address on record or, failing which, its residence address on record in the share register of the Company or by two publications in each of the Luxembourg press and in the Luxembourg Official Gazette
(<I>M&eacute;morial</I>), whereby the first publication shall be made so that the second publication shall be made at least eight days prior to the meeting and with there being at least an eight-day interval between the first and the second
publications for the meeting.</FONT></P>

<P><FONT FACE="Times New Roman">If all the Shareholders are present or represented at a meeting of Shareholders, and if they state that they have been informed of the agenda of the meeting, the meeting may be held without prior notice. </FONT></P>

<P><FONT FACE="Times New Roman">The General Partner may determine all reasonable conditions that must be fulfilled by Shareholders for them to participate in any meeting of Shareholders.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 12 - Powers of the meeting of Shareholders</FONT></B></P>

<P><FONT FACE="Times New Roman">Any regularly constituted meeting of Shareholders of the Company shall represent the entire body of Shareholders of the Company. The meeting of Shareholders may resolve on any item only with the consent of the General
Partner.</FONT></P>

<P></P>

<P><B><FONT FACE="Times New Roman">Article 13 - Management</FONT></B></P>

<P><FONT FACE="Times New Roman">The Company shall be managed by the General Partner who shall be the liable partner (<I>associ&eacute; - g&eacute;rant - commandit&eacute;</I>) and who shall be personally, jointly and severally liable with the
Company for all liabilities which cannot be met out of the assets of the Company. </FONT></P>

<P><FONT FACE="Times New Roman">The General Partner is vested with the broadest powers to perform all acts of administration and disposition in the Company's interest which are not expressly reserved by the Law or by these Articles of Association to
the meeting of Shareholders or to the Supervisory Board.</FONT></P>

<P><FONT FACE="Times New Roman">The General Partner shall have the sole authority to institute and direct court proceedings and to negotiate, settle and compromise disputes on behalf of the Company and may delegate this authority to such persons or
committees as it may designate, provided the Supervisory Board shall have approved the persons to whom the delegation by the General Partner of such authority is made.</FONT></P>

<P><FONT FACE="Times New Roman">The General Partner shall have the power on behalf and in the name of the Company to carry out any and all of the purposes of the Company and to perform all acts and enter into and perform all contracts and other
undertakings that it may deem necessary, advisable or useful or incidental thereto. Except as otherwise expressly provided, the General Partner has, and shall have full authority in its discretion to exercise, on behalf of and in the name of the
Company, all rights and powers necessary or convenient to carry out the purposes of the Company.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 14 - Authorised signature</FONT></B></P>

<P><FONT FACE="Times New Roman">The Company shall be bound by the corporate signature of the General Partner as made by the individual or joint signatures of any other persons to whom authority shall have been delegated by the General Partner as the
General Partner shall determine in its discretion, provided the Supervisory Board shall have approved the persons to whom the delegation by the General Partner of such authority is made. </FONT></P>

<P><B><FONT FACE="Times New Roman">Article 15 - Remuneration of General Partner; Expenses</FONT></B></P>

<P><FONT FACE="Times New Roman">The General Partner shall receive no remuneration from the Company for its duties. To the largest extent permitted by applicable law, but without prejudice to the second paragraph of Article 8, the Company shall bear,
and reimburse for, the costs and expenses incurred by the General Partner resulting from the performance of its duties and/or actions taken on behalf of and/or for the benefit of the Company and may make advances to the General Partner in connection
therewith (including, without limitation, losses, damages and defense costs resulting from actual or threatened third party claims).</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 16 - Supervisory Board</FONT></B></P>

<P><FONT FACE="Times New Roman">The affairs of the Company and its financial situation including particularly its books and accounts shall be supervised by a supervisory board composed of at least three board members (herein referred to as the
&quot;Supervisory Board&quot;).</FONT></P>

<P><FONT FACE="Times New Roman">The Supervisory Board shall be consulted by the General Partner on such matters as the General Partner may determine, and it shall authorise any actions of the General Partner that may, pursuant to the Law or under
these Articles of Association, exceed the powers of the General Partner.</FONT></P>

<P><FONT FACE="Times New Roman">The Supervisory Board shall approve those individuals put forth from time to time by the General Partner to exercise the General Partner's powers with respect to the management of the Company, and the General Partner
shall act only through such individuals.</FONT></P>

<P></P>

<P><FONT FACE="Times New Roman">The Supervisory Board shall be elected by a simple majority vote of the general meeting of Shareholders for a maximum term of six years, which shall be renewable. </FONT></P>

<P><FONT FACE="Times New Roman">The general meeting of Shareholders shall determine the remuneration of the Supervisory Board, if any.</FONT></P>

<P><FONT FACE="Times New Roman">The Supervisory Board shall be convened by its chairman (as appointed by the Supervisory Board from the Board members) or by the General Partner.</FONT></P>

<P><FONT FACE="Times New Roman">Written notice of any meeting of the Supervisory Board shall be given to all members of the Supervisory Board with at least eight days prior notice, except in circumstances of emergency, in which case the nature of
such circumstances shall be set forth in the notice of the meeting. This notice may be waived by the consent in writing, whether in original or by cable, telegram, telefax or telex of each member. Separate notice shall not be required for individual
meetings held at times and places prescribed in a schedule previously adopted by resolution of the Supervisory Board. If all the members of the Supervisory Board are present or represented at a meeting of Supervisory Board, and if they state that
they have been informed of the agenda of the meeting, the meeting may be held without prior notice.</FONT></P>

<P><FONT FACE="Times New Roman">Any member may act at any meeting of the Supervisory Board by appointing in writing, whether in original or by cable, telegram, telex, telefax or other electronic transmission another member as his proxy.</FONT></P>

<P><FONT FACE="Times New Roman">The Supervisory Board can deliberate or act validly only if at least the majority of its members are present or represented. Resolutions shall be approved if taken by a majority of the votes of the members present or
represented at such meeting. Resolutions may also be taken in one or several written instruments signed by all the members.</FONT></P>

<P><FONT FACE="Times New Roman">No member of the Supervisory Board shall be liable in respect of any negligence, default or breach of duty on his own part in relation to the Company and each member of the Supervisory Board shall be indemnified out
of the funds of the Company against all liabilities, losses, damages or expenses arising out of the actual or purported execution or discharge of his duties or the exercise of his powers or otherwise in relation to or in connection with his duties,
powers or office; provided that this exemption from liability and indemnity shall not extend to any matter which would render them void pursuant to Luxembourg law.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 17 - Accounting year - Accounts</FONT></B></P>

<P><FONT FACE="Times New Roman">The accounting year of the Company shall begin on 1st September and it shall terminate on 31st August of each year.</FONT></P>

<P><FONT FACE="Times New Roman">The accounts of the Company shall be stated in euro and/or United States dollars or in any other fungible currency as decided by the General Partner.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 18 - Allocation of profits</FONT></B></P>

<P><FONT FACE="Times New Roman">From the annual net profits of the Company, five per cent (5 %) shall be allocated to the legal reserve as required by the Law. This allocation shall cease to be required as soon as such legal reserve amounts to ten
per cent (10 %) of the nominal issued share capital of the Company as stated in Article 5 hereof as increased or reduced from time to time.</FONT></P>

<P><FONT FACE="Times New Roman">The General Partner shall determine how the annual net profits shall be disposed of, and it shall decide to pay dividends from time to time, as it, in its discretion, believes to suit best the corporate purpose and
policy of the Company. A general meeting of Shareholders shall have to approve the General Partner's decision to pay dividends as well as the profit allocation proposed by the General Partner.</FONT></P>

<P></P>

<P><FONT FACE="Times New Roman">Each Shareholder shall have dividend rights corresponding to its share. Each Class II common Share shall entitle its holder to receive a dividend equal to 10% of any dividend to which a Class I Common Share entitles
its holder, whether in cash or in kind.</FONT></P>

<P><FONT FACE="Times New Roman">The dividends may be paid in Euro or in United States Dollars or in any other currency determined by the General Partner and they may be paid at such places and times as shall be determined by the General
Partner.</FONT></P>

<P><FONT FACE="Times New Roman">The General Partner may decide to pay interim dividends under the conditions and within the limits laid down in the Law.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 19 - Dissolution and liquidation</FONT></B></P>

<P><FONT FACE="Times New Roman">The Company may be voluntarily dissolved by a resolution passed at a general meeting of Shareholders with the consent of the General Partner.</FONT></P>

<P><FONT FACE="Times New Roman">The liquidation shall be carried out by one or several liquidators (who may be physical persons or legal entities) named by a general meeting of Shareholders which shall also determine their powers and their
remuneration.</FONT></P>

<P><FONT FACE="Times New Roman">Each holder of Shares of the Company shall be entitled (to the extent of the availability of funds or assets in sufficient amount), to the repayment of the nominal share capital amount corresponding to its Share
holdings. The liquidation proceeds (if any), including the return of nominal share capital, shall be paid so that each Class II Common Share shall entitle its holder to receive a liquidation payment equal to 10% of any liquidation payment to which a
Class I Common Share entitles its holder.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 20 - Amendments</FONT></B></P>

<P><FONT FACE="Times New Roman">These Articles of Association may be amended from time to time by a general meeting of Shareholders, subject to the quorum and majority requirements provided by the laws of Luxembourg, and subject to the consent of
the General Partner.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 21 - Tax Matters</FONT></B></P>

<P><FONT FACE="Times New Roman">The General Partner may, in its sole discretion, make any tax elections with respect to the Company, provided that the General Partner reasonably determines that any such election would not have an adverse tax impact
on any Shareholder.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 22 - Applicable law</FONT></B></P>

<P><FONT FACE="Times New Roman">All matters not governed by these Articles of Association shall be determined by application of the provisions of Luxembourg law, and, in particular, of the Law.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 23 - Definitions</FONT></B></P>

<P><FONT FACE="Times New Roman">The &quot;Average Price Per Share&quot; as of any day shall equal the average of the high and low sales prices of Accenture Ltd Class A Common Shares as reported on the New York Stock Exchange (or if the Accenture Ltd
Class A Common Shares are not listed or admitted to trading on the New York Stock Exchange, on the American Stock Exchange, or if the Accenture Ltd Class A Common Shares are not listed or admitted to trading on the American Stock Exchange, on the
Nasdaq National Market, or if the Accenture Ltd Class A Common Shares are quoted on the Nasdaq National Market, on the over-the-counter market as furnished by any nationally recognized New York Stock Exchange member firm selected by Accenture Ltd
for such purpose), net of customary brokerage and similar transaction costs as determined with respect to the Company and by the Company.</FONT></P>

<P><FONT FACE="Times New Roman">The &quot;Market Price of an Accenture Ltd Class A Common Share&quot; as of any day shall equal the Average Price Per Share as of such day, unless Accenture Ltd sells (i.e. trade date) shares of its Class A Common
Shares on such day for cash other than in a transaction with any employee or an affiliate and other than pursuant to a preexisting obligation; in which case the &quot;Market Price of an Accenture Ltd Class A Common Share&quot; as of such day shall
be the weighted average sale price per share, net of brokerage and similar costs.</FONT></P>

<P></P>
<P><FONT FACE="Times New Roman">The &quot;Valuation Ratio&quot; at any time shall equal 1.00, provided that the Valuation Ratio shall be subject to adjustment from time to time pursuant to the following provisions of this Article 23 If at any time:
</FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%"><FONT FACE="Times New Roman">(i)</FONT></TD>
<TD WIDTH="1%">&nbsp;&nbsp;</TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman">Accenture Ltd acquires or otherwise holds more than a <I>de miminis</I> amount of assets other than:</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%"><FONT FACE="Times New Roman">(a)</FONT></TD>
<TD WIDTH="1%">&nbsp;&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman">its shareholding in the Company,</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="1%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="2%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="1%" HEIGHT="22">&nbsp;</TD>
<TD HEIGHT="22" COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top"><FONT FACE="Times New Roman">(b)</FONT></TD>
<TD WIDTH="1%">&nbsp;&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman">any direct or indirect interest in its own shares (provided that such shares would not be treated as an asset of Accenture Ltd on a consolidated balance sheet of Accenture Ltd prepared in accordance with
generally accepted accounting principles in the United States of America) or </FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top"><FONT FACE="Times New Roman">(c)</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2"><FONT FACE="Times New Roman">any assets that it holds only transiently prior to contributing or loaning such assets to the Company (provided that any such transiently held assets are so contributed or loaned prior to the
end of the then current fiscal quarter of Accenture Ltd),</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%"><FONT FACE="Times New Roman">(ii)</FONT></TD>
<TD WIDTH="1%">&nbsp;&nbsp;</TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman">Accenture Ltd incurs or otherwise is liable for more than a <I>de miminis</I> amount of liabilities other than any liability for which it is the obligee under a corresponding liability of the Company or
</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%"><FONT FACE="Times New Roman">(iii)</FONT></TD>
<TD WIDTH="1%">&nbsp;&nbsp;</TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman">circumstances otherwise require, then</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top"><FONT FACE="Times New Roman">(1)</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2"><FONT FACE="Times New Roman">the General Partner shall promptly inform the Supervisory Board and those members of the Supervisory Board that are also Limited Shareholders (in such capacity, the &quot;Limited Shareholders
Committee&quot;) of such fact, </FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top"><FONT FACE="Times New Roman">(2)</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2"><FONT FACE="Times New Roman">the General Partner shall provide the Limited Shareholders Committee with such other information, including financial information or statements, as the Limited Shareholders Committee may
reasonably require in connection with the determinations contemplated by the following clause (3) of this sentence and </FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%"><FONT FACE="Times New Roman">(3)</FONT></TD>
<TD WIDTH="1%">&nbsp;&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman">each of the General Partner and the Limited Shareholders Committee shall use their best efforts to promptly:</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top"><FONT FACE="Times New Roman">(x)&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="91%" VALIGN="top"><FONT FACE="Times New Roman">determine whether an adjustment to the Valuation Ratio is required in order to reflect the relative fair market values of an Accenture Ltd Class A Common Share and a Class I Common Share and
</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="91%" VALIGN="top">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top"><FONT FACE="Times New Roman">(y)&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="91%" VALIGN="top"><FONT FACE="Times New Roman">if such an adjustment is so required, determine a process for equitable adjustment of the Valuation Ratio (whether based on the financial statements of Accenture Ltd or otherwise and whether
a process for a one-time adjustment or recurring adjustments). </FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="91%" VALIGN="top">&nbsp;</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman">If the General Partner and the Limited Shareholders Committee determine that an adjustment in the Valuation Ratio is so required and determine a process for equitable adjustment of the Valuation Ratio, then the
Valuation Ratio shall be adjusted by such process. If no agreement can be reached promptly (but in any event within 45 days) between the General Partner and the Limited Shareholders Committee as to whether any such adjustment is so required or as to
a process for equitable adjustment, then the General Partner and the Limited Shareholders Committee shall choose an independent arbitrator (which may be a leading international investment bank) who is a recognized expert in the field of company
valuation to (x) determine whether an adjustment to the Valuation Ratio is required in order to reflect the relative fair market values of an Accenture Ltd Class A Common Share and a Class I Common Share and (y) if such an adjustment is so required,
determine a process for equitable adjustment of the Valuation Ratio (whether based on the financial statements of Accenture Ltd or otherwise and whether a process for a one-time adjustment or recurring adjustments). If the arbitrator determines that
an adjustment in the Valuation Ratio is so required and determines a process for equitable adjustment of the Valuation Ratio, then the Valuation Ratio shall be adjusted by such process.</FONT></P>

<P></P>
<TABLE WIDTH="85%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman">If Accenture Ltd:</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">(i)</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">pays a dividend or makes a distribution on its Accenture Ltd Class A Common Shares in Accenture Ltd Class A Common Shares, </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman">(ii)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">subdivides its outstanding Accenture Ltd Class A Common Shares into a greater number of shares, </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman">(iii)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">combines its outstanding Accenture Ltd Class A Common Shares into a smaller number of shares, </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="1%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="96%" HEIGHT="22">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman">(iv)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">makes a distribution on its Accenture Ltd Class A Common Shares in shares of its share capital other than Accenture Ltd Class A Common Shares or </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman">(v)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman">issues by reclassification of its Accenture Ltd Class A Common Shares any shares of its share capital, </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman">then the Valuation Ratio in effect immediately prior to such action shall be adjusted so that the holder of Class I Common Shares thereafter redeemed may receive the redemption price or number of shares of share
capital of Accenture Ltd, as the case may be, which it would have owned immediately following such action if it had redeemed immediately prior to such action (after taking into account any corresponding action taken by the Company).</FONT></P>
<P><FONT FACE="Times New Roman">In the event of any business combination, amalgamation, restructuring, recapitalization or other extraordinary transaction directly or indirectly involving Accenture Ltd or any of its securities or assets as a result
of which the holders of Accenture Ltd Class A Common Shares shall hold voting securities of an entity other than Accenture Ltd, the terms &quot;Accenture Ltd Class A Common Shares&quot; and &quot;Accenture Ltd&quot; shall refer to such voting
securities formerly representing or distributed in respect of Accenture Ltd Class A Common Shares and such entity, respectively.&quot;</FONT></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman">VERSION FRANCAISE</FONT></B></P>

<P><B><FONT FACE="Times New Roman">Article 1 - Forme</FONT></B></P>

<P><FONT FACE="Times New Roman">Entre Accenture Ltd, soci&eacute;t&eacute; anonyme (<I>company limited by shares</I>) constitu&eacute;e en vertu du droit des Bermudes, le g&eacute;rant commandit&eacute; (le &#171;&nbsp;g&eacute;rant
commandit&eacute;&nbsp;&#187; ou &#171;&nbsp;Accenture Ltd&nbsp;&#187;) et Accenture Minority IV, Ltd, soci&eacute;t&eacute; constitu&eacute;e &agrave; Gibraltar, associ&eacute; commanditaire actuel de la soci&eacute;t&eacute; et les personnes qui
deviendront des associ&eacute;s commanditaires de la soci&eacute;t&eacute; (les &#171;&nbsp;associ&eacute;s commanditaires&nbsp;&#187;), il est form&eacute; <B>Accenture SCA</B>, une soci&eacute;t&eacute; en<B> </B>commandite par actions
(ci-apr&egrave;s d&eacute;nomm&eacute;e la &#171;&nbsp;soci&eacute;t&eacute;&nbsp;&#187;).</FONT></P>

<P></P>

<P><FONT FACE="Times New Roman">Ci-apr&egrave;s, les associ&eacute;s commanditaires et le g&eacute;rant commandit&eacute; seront chacun d&eacute;nomm&eacute; un actionnaire et ensemble des actionnaires.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 2 - Dur&eacute;e</FONT></B></P>

<P><FONT FACE="Times New Roman">La Soci&eacute;t&eacute; est constitu&eacute;e pour une dur&eacute;e illimit&eacute;e. Cependant, la Soci&eacute;t&eacute; est dissoute dans le cas de l'adoption d'une r&eacute;solution de dissolution de la
Soci&eacute;t&eacute; par une assembl&eacute;e g&eacute;n&eacute;rale des actionnaires d&eacute;lib&eacute;rant conform&eacute;ment aux conditions de quorum et de majorit&eacute; requises pour la modification des statuts. La Soci&eacute;t&eacute;
n'est pas dissoute dans le cas de la d&eacute;mission, de la dissolution, de la faillite ou de l'insolvabilit&eacute; du g&eacute;rant commandit&eacute;.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 3 - Objet</FONT></B></P>

<P><FONT FACE="Times New Roman">L'objet de la Soci&eacute;t&eacute; est la d&eacute;tention de participations, sous quelque forme que ce soit, dans des soci&eacute;t&eacute;s luxembourgeoises et &eacute;trang&egrave;res, l'acquisition par voie
d'achat, de souscription ou de toute autre mani&egrave;re, ainsi que la cession par voie de vente, d'&eacute;change ou de toute autre mani&egrave;re d'actions, d'obligations, de billets et autres valeurs mobili&egrave;res de toute nature, et la
propri&eacute;t&eacute;, l'administration, le d&eacute;veloppement et la gestion de ses participations et de son portefeuille d'actifs.</FONT></P>

<P><FONT FACE="Times New Roman">La Soci&eacute;t&eacute; peut exercer toute activit&eacute; commerciale, financi&egrave;re et/ou industrielle ou conserver un &eacute;tablissement commercial ouvert au public. La Soci&eacute;t&eacute; peut participer
directement ou indirectement &agrave; l'&eacute;tablissement et au d&eacute;veloppement de toutes entreprises financi&egrave;res, industrielles ou commerciales au Luxembourg et &agrave; l'&eacute;tranger et peut leur pr&ecirc;ter toute assistance,
de nature financi&egrave;re ou non, comme notamment l'octroi de pr&ecirc;ts ou d'avances, de garanties &agrave; leur avantage ou toute autre forme d'assistance. La Soci&eacute;t&eacute; peut emprunter sous toute forme et peut proc&eacute;der
&agrave; l'&eacute;mission d'obligations et de billets, qu'ils soient ou non convertibles ou &eacute;changeables contre des actions de la soci&eacute;t&eacute; ou des actions de toutes autres soci&eacute;t&eacute;s.</FONT></P>

<P><FONT FACE="Times New Roman">La Soci&eacute;t&eacute; peut conclure et ex&eacute;cuter des conventions g&eacute;n&eacute;rales de partenariat et de marketing et toute autre convention destin&eacute;e &agrave; promouvoir et &agrave; assurer le
d&eacute;veloppement et le fonctionnement du groupe Accenture, en ce compris et de mani&egrave;re non exhaustive, toute op&eacute;ration impliquant ou se rapportant au personnel de toute soci&eacute;t&eacute; du groupe.</FONT></P>

<P><FONT FACE="Times New Roman">De mani&egrave;re g&eacute;n&eacute;rale, elle peut prendre toutes mesures de surveillance et de contr&ocirc;le et exercer toute op&eacute;ration qu'elle peut juger utile &agrave; la r&eacute;alisation et au
d&eacute;veloppement de ses objets.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 4 - Si&egrave;ge social</FONT></B></P>

<P><FONT FACE="Times New Roman">Le si&egrave;ge social de la soci&eacute;t&eacute; est fix&eacute; &agrave; Luxembourg, au Grand Duch&eacute; de Luxembourg. Le g&eacute;rant commandit&eacute; peut &eacute;tablir des succursales ou d'autres bureaux
au Luxembourg ou &agrave; l'&eacute;tranger.</FONT></P>

<P><FONT FACE="Times New Roman">Si le g&eacute;rant commandit&eacute; d&eacute;cide que des &eacute;v&eacute;nements extraordinaires de nature politique, &eacute;conomique ou sociale sont survenus ou sont imminents, qui entravent ou sont
susceptibles d'entraver les activit&eacute;s normales de la soci&eacute;t&eacute; &agrave; son si&egrave;ge social, ou la facilit&eacute; de communication entre le si&egrave;ge et les personnes situ&eacute;es &agrave; l'&eacute;tranger, le
si&egrave;ge social peut &ecirc;tre provisoirement transf&eacute;r&eacute; &agrave; l'&eacute;tranger jusqu'&agrave; cessation compl&egrave;te de ces circonstances extraordinaires&nbsp;; ces mesures provisoires n'ont aucun effet sur la
nationalit&eacute; de la soci&eacute;t&eacute;, qui, nonobstant le transfert provisoire de son si&egrave;ge, restera une soci&eacute;t&eacute; en commandite par actions luxembourgeoise.</FONT></P>

<P></P>

<P><B><FONT FACE="Times New Roman">Article 5 - Capital</FONT></B></P>

<P><FONT FACE="Times New Roman">Le capital actions nominal souscrit, &eacute;mis et lib&eacute;r&eacute; de la Soci&eacute;t&eacute; est de <B>EUR 1,529,427,785</B> (un milliard cinq cent vingt-neuf millions quatre cent vingt-sept mille sept cent
quatre-vingt-cinq Euro) repr&eacute;sent&eacute; par des actions de commandit&eacute; d&eacute;tenues par le g&eacute;rant commandit&eacute; d'une valeur nominale de un Euro et vingt-cinq cents chacune (1,25&nbsp;EUR) et des actions de
commanditaires d&eacute;tenues par le(s) associ&eacute;(s) commanditaire(s) d'une valeur nominale de un Euro et vingt-cinq cents (1,25&nbsp;EUR) chacune.<B> </B>Les actions sont divis&eacute;es en <B>752,583,920</B> (sept cent cinquante-deux
millions cinq cent quatre-vingt-trois mille neuf cent vingt) actions ordinaires de cat&eacute;gorie I (&#171;&nbsp;actions ordinaires de cat&eacute;gorie I&nbsp;&#187;) et en <B>479,958,308</B> (quatre cent soixante-dix-neuf millions neuf cent
cinquante-huit mille trois cent huit) actions ordinaires de cat&eacute;gorie II (&#171;&nbsp;actions ordinaires de cat&eacute;gorie II&nbsp;&#187;) assorties des m&ecirc;mes caract&eacute;ristiques et droits, &agrave; l'exception des
diff&eacute;rences expos&eacute;es dans les pr&eacute;sents statuts. Les actions ordinaires de cat&eacute;gorie I et les actions ordinaires de cat&eacute;gorie II sont chacune d&eacute;nomm&eacute;e une &#171;&nbsp;action&nbsp;&#187; et ensemble les
&#171;&nbsp;actions&nbsp;&#187;. Les actions ordinaires de cat&eacute;gorie I et les actions ordinaires de cat&eacute;gorie II sont &eacute;mises sous la forme d'actions rachetables, conform&eacute;ment &agrave; l'article 49-8 de la loi du 10
ao&ucirc;t 1915 relative aux soci&eacute;t&eacute;s commerciales, telle qu'amend&eacute;e (la &#171;&nbsp;loi&nbsp;&#187;), et les caract&eacute;ristiques de rachat stipul&eacute;es &agrave; l'article 7 des pr&eacute;sentes sont applicables &agrave;
ces actions.</FONT></P>

<P><FONT FACE="Times New Roman">Une assembl&eacute;e extraordinaire des actionnaires de la soci&eacute;t&eacute;, d&eacute;lib&eacute;rant de la mani&egrave;re requise pour la modification des pr&eacute;sents statuts, et avec l'accord du
g&eacute;rant commandit&eacute;, peut augmenter le capital souscrit et &eacute;mis.</FONT></P>

<P><FONT FACE="Times New Roman">Nonobstant le paragraphe qui pr&eacute;c&egrave;de, le g&eacute;rant commandit&eacute; de la soci&eacute;t&eacute; a l'autorisation et le pouvoir de mettre en _uvre une augmentation du capital souscrit et &eacute;mis,
en tout ou en partie, p&eacute;riodiquement, pendant une p&eacute;riode commen&ccedil;ant le 5 mai 2001 et expirant au cinqui&egrave;me anniversaire de cette date, par l'&eacute;mission d'actions repr&eacute;sentant cette augmentation totale ou
partielle du capital dans les limites du montant total du capital actions autoris&eacute; et pour le nombre et les cat&eacute;gories d'actions qui font l'objet de l'autorisation. Le g&eacute;rant commandit&eacute; accepte des souscriptions pour ces
actions.</FONT></P>

<P><FONT FACE="Times New Roman">Dans le cadre de cette autorisation d'augmenter le capital et conform&eacute;ment &agrave; l'article 32-3 (5) de la loi, le g&eacute;rant commandit&eacute; de la soci&eacute;t&eacute; est autoris&eacute;, &agrave; son
enti&egrave;re discr&eacute;tion, &agrave; renoncer en tout ou en partie ou &agrave; limiter, ou &agrave; assortir de conditions tous droits de souscription privil&eacute;gi&eacute;s des actionnaires existants pendant la m&ecirc;me p&eacute;riode de
cinq ans et &agrave; fixer le montant des primes d'&eacute;mission (le cas &eacute;ch&eacute;ant) qui devront &ecirc;tre pay&eacute;es par le(s) souscripteur(s) dans le cadre de cette augmentation de capital.</FONT></P>

<P><FONT FACE="Times New Roman">Les actions ordinaires de cat&eacute;gorie I sont convertibles en actions ordinaires de cat&eacute;gorie II par voie de r&eacute;solution d'une assembl&eacute;e extraordinaire des actionnaires de la
soci&eacute;t&eacute;, d&eacute;lib&eacute;rant comme en mati&egrave;re de modification des pr&eacute;sents statuts. Le rapport de conversion est de 1 action ordinaire de cat&eacute;gorie I pour 10 actions ordinaires de cat&eacute;gorie II. &Agrave;
l'adoption de cette r&eacute;solution, le capital nominal est augment&eacute; de 11,25&nbsp;EUR par action ordinaire de cat&eacute;gorie I ainsi converties et il est proc&eacute;d&eacute; &agrave; l'&eacute;mission d'actions ordinaires de
cat&eacute;gorie II conform&eacute;ment au rapport de conversion pour remplacer les actions ordinaires de cat&eacute;gories I ainsi converties.</FONT></P>

<P><FONT FACE="Times New Roman">Les actions ordinaires de cat&eacute;gorie II sont convertibles en actions ordinaires de cat&eacute;gorie I par voie de r&eacute;solution d'une assembl&eacute;e extraordinaire des actionnaires de la
soci&eacute;t&eacute;, d&eacute;lib&eacute;rant comme en mati&egrave;re de modification des pr&eacute;sents statuts. Le rapport de conversion est de 10 actions ordinaires de cat&eacute;gorie II pour 1 action ordinaire de cat&eacute;gorie I. &Agrave;
l'adoption de cette r&eacute;solution, le capital nominal est diminu&eacute; de 11,25&nbsp;EUR par 10 actions ordinaires de cat&eacute;gorie II ainsi converties et le montant de la diminution du capital actions nominal est affect&eacute;e &agrave;
la r&eacute;serve de primes d'&eacute;mission de la soci&eacute;t&eacute;. En outre, il est proc&eacute;d&eacute; &agrave; l'&eacute;mission d'actions ordinaires de cat&eacute;gorie I suppl&eacute;mentaires conform&eacute;ment au rapport de
conversion pour remplacer les actions ordinaires de cat&eacute;gories II ainsi converties.</FONT></P>
<P>&nbsp;</P>

<P></P>

<P><FONT FACE="Times New Roman">Le capital autoris&eacute; de la soci&eacute;t&eacute; est fix&eacute; &agrave; 50&nbsp;000&nbsp;000&nbsp;000&nbsp;EUR, repr&eacute;sent&eacute; par 20&nbsp;000&nbsp;000&nbsp;000 actions ordinaires de cat&eacute;gorie
I d'une valeur nominale d'un euro et vingt-cinq cents (1,25&nbsp;EUR) chacune et 20&nbsp;000&nbsp;000&nbsp;000 actions ordinaires de cat&eacute;gorie II d'une valeur nominale d'un euro et vingt-cinq cents (1,25&nbsp;EUR) chacune.</FONT></P>

<P><FONT FACE="Times New Roman">Il est conf&eacute;r&eacute; au g&eacute;rant commandit&eacute; l'autorisation et le pouvoir d'&eacute;mettre des actions ordinaires de cat&eacute;gorie I et/ou des actions ordinaires de cat&eacute;gorie II
p&eacute;riodiquement en une ou plusieurs s&eacute;ries portant diff&eacute;rents num&eacute;ros ou lettres aux fins de leur identification.</FONT></P>

<P><FONT FACE="Times New Roman">L'autorisation accord&eacute;e au g&eacute;rant commandit&eacute; inclut l'autorisation d'&eacute;mettre des actions pour lui-m&ecirc;me.</FONT></P>

<P><FONT FACE="Times New Roman">Il est par les pr&eacute;sentes conf&eacute;r&eacute; au g&eacute;rant commandit&eacute; l'autorisation et le pouvoir de fixer les conditions attach&eacute;es &agrave; toute souscription d'actions, et il peut,
p&eacute;riodiquement, mettre en _uvre cette augmentation partielle ou totale &agrave; la conversion de tout b&eacute;n&eacute;fice net de la soci&eacute;t&eacute; en capital et l'attribution d'actions enti&egrave;rement lib&eacute;r&eacute;es aux
actionnaires au lieu de dividendes.</FONT></P>

<P><FONT FACE="Times New Roman">Le g&eacute;rant commandit&eacute; est &eacute;galement autoris&eacute; &agrave; provoquer l'&eacute;mission par la soci&eacute;t&eacute; de warrants, d'obligations convertibles ou d'instruments ou obligations
assimil&eacute;s assortis de warrants ou droits de souscription ou l'&eacute;mission de tous instruments financiers convertibles en actions aux termes et conditions fix&eacute;s par le g&eacute;rant commandit&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">Chaque fois que le g&eacute;rant commandit&eacute; agit pour mettre en _uvre une telle augmentation de capital, ainsi qu'il y est autoris&eacute;, l'article 5 des statuts de la soci&eacute;t&eacute; est modifi&eacute;
pour refl&eacute;ter le r&eacute;sultat de cette action et le g&eacute;rant commandit&eacute; prend ou autorise toute personne &agrave; prendre toutes mesures n&eacute;cessaires aux fins de l'enregistrement et de la publication de cette augmentation
et de cette modification.</FONT></P>

<P><FONT FACE="Times New Roman">La soci&eacute;t&eacute; ne reconna&icirc;t qu'un d&eacute;tenteur par action&nbsp;; si une action est d&eacute;tenue par plus d'une personne, la soci&eacute;t&eacute; a le droit de suspendre l'exercice de tous les
droits attach&eacute;s &agrave; cette action jusqu'&agrave; ce qu'une personne soit nomm&eacute;e ou d&eacute;sign&eacute;e par les d&eacute;tenteurs conjoints comme le seul propri&eacute;taire &agrave; l'&eacute;gard de la soci&eacute;t&eacute;.
</FONT></P>

<P><FONT FACE="Times New Roman">Les actions de la soci&eacute;t&eacute; sont et restent nominatives. Les actions de sont pas certifi&eacute;es, mais un certificat d'inscription nominative portant t&eacute;moignage de l'enregistrement de
l'actionnaire correspondant dans le registre des actionnaires de la soci&eacute;t&eacute; et du nombre d'actions qu'il d&eacute;tient est &eacute;mis par la soci&eacute;t&eacute; &agrave; la demande de l'actionnaire.</FONT></P>

<P><FONT FACE="Times New Roman">Un registre des actionnaires est tenu au si&egrave;ge social de la soci&eacute;t&eacute; et, dans la mesure o&ugrave; le g&eacute;rant commandit&eacute; en d&eacute;cide ainsi, par un agent de transfert et agent
charg&eacute; de la tenue des registres. Ce registre pr&eacute;cise le nom de chaque actionnaire, son domicile ou l'adresse choisie aux fins de notification, le nombre d'actions qu'il d&eacute;tient, la cat&eacute;gorie des actions, les montants
pay&eacute;s au titre de chacune de ces actions, les cessions d'actions et la date de ces cessions.</FONT></P>

<P><FONT FACE="Times New Roman">Les sommes impay&eacute;es, le cas &eacute;ch&eacute;ant, au titre d'actions &eacute;mises et en circulation peuvent &ecirc;tre appel&eacute;es &agrave; tout moment &agrave; la discr&eacute;tion du g&eacute;rant
commandit&eacute;, sous r&eacute;serve cependant que ces appels de fonds soient effectu&eacute;s au titre de toutes les actions dans les m&ecirc;mes proportions et au m&ecirc;me moment. Toute somme dont le paiement est en retard, emporte
automatiquement des int&eacute;r&ecirc;ts en faveur de la soci&eacute;t&eacute; au taux annuel de dix pour-cent (10&nbsp;%) ou &agrave; tout autre taux fix&eacute; par le g&eacute;rant commandit&eacute; p&eacute;riodiquement, calcul&eacute;s
&agrave; partir de la date &agrave; laquelle le paiement est devenu exigible jusqu'&agrave; la date du paiement r&eacute;el.</FONT></P>

<P></P>

<P><B><FONT FACE="Times New Roman">Article 6 - Cession d'actions</FONT></B></P>

<P><FONT FACE="Times New Roman">Sauf &agrave; l'occasion d'un rachat effectu&eacute; en application de l'article 7, aucune cession (au sens d&eacute;fini ci-dessous) d'actions de la soci&eacute;t&eacute; par un associ&eacute; commanditaire n'est
effectu&eacute;e sans que le conseil de surveillance de la soci&eacute;t&eacute; ou son d&eacute;l&eacute;gu&eacute; ait donn&eacute; son accord pr&eacute;alable &agrave; la cession envisag&eacute;e.</FONT></P>

<P><FONT FACE="Times New Roman">Si un associ&eacute; commanditaire souhaite c&eacute;der ou ali&eacute;ner tout ou partie de ses actions dans la soci&eacute;t&eacute; ou tout ou partie des droits attach&eacute;s &agrave; ces actions, de quelque
mani&egrave;re que ce soit, dont notamment par voie de vente, donation, nantissement ou toute autre forme de charge ou autrement (une &#171;&nbsp;cession&nbsp;&#187;), il doit soumettre au pr&eacute;alable une demande &eacute;crite au conseil de
surveillance ou &agrave; son d&eacute;l&eacute;gu&eacute; par lettre recommand&eacute;e avec accus&eacute; de r&eacute;ception ou par tout autre moyen approuv&eacute; par le conseil de surveillance ou son d&eacute;l&eacute;gu&eacute;. Une telle
demande d'agr&eacute;ment comprend le nom du cessionnaire envisag&eacute;, le prix de vente ou la contrepartie envisag&eacute;s ainsi que toutes autres informations pertinentes. </FONT></P>

<P><FONT FACE="Times New Roman">La d&eacute;cision du conseil de surveillance sera communiqu&eacute;e au demandeur aussi t&ocirc;t que possible apr&egrave;s qu'elle a &eacute;t&eacute; prise. La d&eacute;cision du conseil de surveillance ou de son
d&eacute;l&eacute;gu&eacute; quant &agrave; la demande doit &ecirc;tre communiqu&eacute;e &agrave; l'associ&eacute; commanditaire par lettre recommand&eacute;e avec accus&eacute; de r&eacute;ception ou tout autre moyen approuv&eacute; par le
g&eacute;rant commandit&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">Toute cession non conforme aux termes des pr&eacute;sentes est r&eacute;put&eacute;e nulle et non avenue &agrave; l'&eacute;gard de la soci&eacute;t&eacute; et la soci&eacute;t&eacute; ne proc&egrave;de &agrave;
l'enregistrement d'aucun cessionnaire dans le registre des actionnaires sauf si (i) la cession &agrave; ce cessionnaire a &eacute;t&eacute; approuv&eacute;e par &eacute;crit par le conseil de surveillance ou son d&eacute;l&eacute;gu&eacute; et (ii)
le cessionnaire a sign&eacute; tous les documents pertinents que le conseil de surveillance ou son d&eacute;l&eacute;gu&eacute; peuvent exiger.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 7 - Rachat d'actions</FONT></B></P>

<P><FONT FACE="Times New Roman">La soci&eacute;t&eacute; est autoris&eacute;e &agrave; racheter les actions ordinaires de cat&eacute;gorie II ou toute s&eacute;rie de cette cat&eacute;gorie &agrave; la demande du g&eacute;rant commandit&eacute; et
avec l'accord &eacute;crit du conseil de surveillance conform&eacute;ment aux proc&eacute;dures pr&eacute;vues &agrave; l'article 16 des pr&eacute;sentes. Si le rachat des actions ordinaires de cat&eacute;gorie II ou d'une s&eacute;rie de cette
cat&eacute;gorie est effectu&eacute; dans le cadre ou accompagn&eacute; d'une diminution du capital actions de la soci&eacute;t&eacute;, le rachat d'actions ordinaires de cat&eacute;gorie II ou d'une s&eacute;rie de cette cat&eacute;gorie doit
&ecirc;tre approuv&eacute; par voie de r&eacute;solution adopt&eacute;e &agrave; la majorit&eacute; des deux-tiers des actionnaires pr&eacute;sents et votants d'une assembl&eacute;e des actionnaires, avec l'accord du g&eacute;rant
commandit&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">Sous r&eacute;serve de toutes restrictions contractuelles &agrave; la cession par un d&eacute;tenteur stipul&eacute;es dans tout contrat ou accord auquel la soci&eacute;t&eacute; ou quelconque de ses
soci&eacute;t&eacute;s li&eacute;es est partie, les actions ordinaires de cat&eacute;gories I et II sont rachetables pour du num&eacute;raire au choix du d&eacute;tenteur par la remise &agrave; la soci&eacute;t&eacute; d'une notification
irr&eacute;vocable d'un choix de rachat. </FONT></P>

<P><FONT FACE="Times New Roman">Nonobstant le paragraphe pr&eacute;c&eacute;dent, au choix de la soci&eacute;t&eacute; repr&eacute;sent&eacute;e par le g&eacute;rant commandit&eacute;, le prix de rachat payable &agrave; tout associ&eacute;
commanditaire qui devient associ&eacute; commanditaire apr&egrave;s le 31 mai 2001 (ou toute autre date que le conseil de surveillance fixe comme la date de prise d'effet de la transformation du groupe de soci&eacute;t&eacute;s Accenture en une
structure sociale) (un &#171;&nbsp;associ&eacute; commanditaire ult&eacute;rieur&nbsp;&#187;) au titre de tout rachat au terme du pr&eacute;sent article 7 peut &ecirc;tre pay&eacute; en num&eacute;raire ou en actions ordinaires de cat&eacute;gorie A
d'Accenture Ltd et tout d&eacute;tenteur et la soci&eacute;t&eacute; peuvent convenir que la soci&eacute;t&eacute; peut racheter les actions ordinaires de cat&eacute;gorie I de ce d&eacute;tenteur pour toute autre contrepartie.</FONT></P>

<P></P>

<P><FONT FACE="Times New Roman">&Agrave; la demande du g&eacute;rant commandit&eacute;, la soci&eacute;t&eacute; est autoris&eacute;e &agrave; racheter toute action ordinaire de cat&eacute;gorie I ou toute s&eacute;rie de cette cat&eacute;gorie
d&eacute;tenue par tout associ&eacute; commanditaire ult&eacute;rieur pour des actions ordinaires de cat&eacute;gorie A d'Accenture Ltd si la soci&eacute;t&eacute; re&ccedil;oit un avis satisfaisant d'un conseil juridique ou d'un conseiller fiscal
professionnel de r&eacute;putation internationale faisant &eacute;tat de ce qu'un tel rachat serait exempt&eacute; de taxe &agrave; l'&eacute;gard de cet associ&eacute; commanditaire ult&eacute;rieur. Si le rachat de l'action ordinaire de
cat&eacute;gorie I est effectu&eacute; dans le cadre ou accompagn&eacute; d'une diminution du capital actions de la soci&eacute;t&eacute;, le rachat doit en outre doit &ecirc;tre approuv&eacute; par voie de r&eacute;solution adopt&eacute;e &agrave;
la majorit&eacute; des deux-tiers des actionnaires pr&eacute;sents et votants d'une assembl&eacute;e des actionnaires, avec l'accord du g&eacute;rant commandit&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">Le prix de rachat d'une action ordinaire de cat&eacute;gorie I &agrave; payer en actions ordinaires de cat&eacute;gorie A d'Accenture Ltd est &eacute;gal au rapport d'&eacute;valuation (ainsi qu'il est d&eacute;fini
plus bas). Le prix de rachat d'une action ordinaire de cat&eacute;gorie I &agrave; payer en num&eacute;raire est &eacute;gal au rapport d'&eacute;valuation multipli&eacute; par le cours du march&eacute; d'une action ordinaire de cat&eacute;gorie A
d'Accenture Ltd (ainsi qu'il est d&eacute;fini plus bas) au jour ouvr&eacute; des march&eacute;s am&eacute;ricains suivant le jour ouvr&eacute; des march&eacute;s am&eacute;ricains auquel la soci&eacute;t&eacute; re&ccedil;oit une notification de
choix de rachat quant &agrave; cette action ordinaire de cat&eacute;gorie I.</FONT></P>

<P><FONT FACE="Times New Roman">Nonobstant toute disposition contraire, (i) aucun rachat au choix d'un associ&eacute; ne peut &ecirc;tre effectu&eacute; avant la date &agrave; laquelle les actions ordinaires de cat&eacute;gorie A d'Accenture Ltd ont
&eacute;t&eacute; cot&eacute;es &agrave; la bourse de New York et (ii) la soci&eacute;t&eacute; peut refuser d'honorer une demande de rachat &agrave; tout moment ou pendant toute p&eacute;riode, dont notamment, pendant ce qu'on appelle une
&#171;&nbsp;p&eacute;riode de <I>black-out&nbsp;</I>&#187; (et les actions ordinaires de cat&eacute;gorie I ne sont pas rachetables &agrave; ce moment ou pendant cette p&eacute;riode), si la soci&eacute;t&eacute; d&eacute;cide, sur le fondement de
l'avis d'un conseil juridique (qui peut &ecirc;tre un conseil juridique interne), qu'il existe des informations substantielles non communiqu&eacute;es au public qui peuvent influer sur le cours moyen par action (ainsi qu'il est d&eacute;fini plus
bas) &agrave; ce moment ou pendant cette p&eacute;riode.</FONT></P>

<P><FONT FACE="Times New Roman">Aux fins des statuts, par jour ouvrable luxembourgeois, on entend un jour pendant lequel les banques sont normalement ouvertes dans la ville de Luxembourg, au Luxembourg.</FONT></P>

<P><FONT FACE="Times New Roman">La soci&eacute;t&eacute; peut adopter des proc&eacute;dures raisonnables pour la mise en ouvre des dispositions de rachat stipul&eacute;es dans le pr&eacute;sent article 7, dont notamment des proc&eacute;dures de
remise des notifications de choix de rachat.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 8 - Responsabilit&eacute; des associ&eacute;s</FONT></B></P>

<P><FONT FACE="Times New Roman">Les associ&eacute;s commanditaires ne sont responsables qu'&agrave; concurrence de leur apport au capital de la soci&eacute;t&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">La responsabilit&eacute; du g&eacute;rant commandit&eacute; est illimit&eacute;e. </FONT></P>

<P><B><FONT FACE="Times New Roman">Article 9 - Assembl&eacute;es des actionnaires</FONT></B></P>

<P><FONT FACE="Times New Roman">L'assembl&eacute;e g&eacute;n&eacute;rale annuelle des actionnaires se tient, conform&eacute;ment au droit luxembourgeois, au si&egrave;ge social de la soci&eacute;t&eacute; au Luxembourg, ou dans tout autre lieu du
territoire du Luxembourg qui peut &ecirc;tre pr&eacute;cis&eacute; dans l'avis de convocation &agrave; l'assembl&eacute;e, le 15 janvier &agrave; midi. Si ce jour n'est pas un jour ouvrable luxembourgeois, l'assembl&eacute;e g&eacute;n&eacute;rale
annuelle se tient le jour ouvrable luxembourgeois suivant.</FONT></P>

<P><FONT FACE="Times New Roman">Les autres assembl&eacute;es des actionnaires peuvent, sous r&eacute;serve du droit applicable, se tenir au lieu, &agrave; l'heure et &agrave; la date qui peuvent &ecirc;tre pr&eacute;cis&eacute;s par le g&eacute;rant
commandit&eacute; dans les avis de convocation respectifs aux assembl&eacute;es.</FONT></P>

<P><FONT FACE="Times New Roman">Toutes les assembl&eacute;es g&eacute;n&eacute;rales sont pr&eacute;sid&eacute;es par le g&eacute;rant commandit&eacute;.</FONT></P>

<P></P>

<P><B><FONT FACE="Times New Roman">Article 10 - Avis, quorum, repr&eacute;sentation, majorit&eacute;</FONT></B></P>

<P><FONT FACE="Times New Roman">Les p&eacute;riodes des avis de convocation et les r&egrave;gles de quorum exig&eacute;s par la loi s'appliquent aux assembl&eacute;es des actionnaires de la soci&eacute;t&eacute;, ainsi qu'&agrave; la tenue de ces
assembl&eacute;es, sauf disposition contraire des pr&eacute;sentes.</FONT></P>

<P><FONT FACE="Times New Roman">Chaque action donne droit &agrave; une voix. Un actionnaire peut agir &agrave; toute assembl&eacute;e des actionnaires en d&eacute;signant une autre personne par &eacute;crit (sous la forme d'un original, ou par
t&eacute;l&eacute;copie, c&acirc;ble, t&eacute;l&eacute;gramme ou t&eacute;lex) que cette personne soit ou non un actionnaire, pour &ecirc;tre son repr&eacute;sentant.</FONT></P>

<P><FONT FACE="Times New Roman">Sauf prescription l&eacute;gale contraire ou disposition contraire des pr&eacute;sents statuts, les r&eacute;solutions d'une assembl&eacute;e des actionnaires seront adopt&eacute;es &agrave; la majorit&eacute; simple
des actions repr&eacute;sent&eacute;es et votant &agrave; l'assembl&eacute;e, et avec l'accord du g&eacute;rant commandit&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">Pour les questions suivantes, un quorum compos&eacute; de la moiti&eacute; des actions &eacute;mises et en circulation de la soci&eacute;t&eacute; est n&eacute;cessaire (si et quand la loi l'exige) et un vote &agrave;
la majorit&eacute; des deux-tiers des actions repr&eacute;sent&eacute;es et votant &agrave; l'assembl&eacute;e est n&eacute;cessaire&nbsp;: </FONT></P>
<TABLE WIDTH="85%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="3%">(i)</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">modification des pr&eacute;sents statuts&nbsp;;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman">(ii)</FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">dissolution et liquidation de la soci&eacute;t&eacute;&nbsp;;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman">(iii)</FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">d&eacute;termination du capital actions autoris&eacute; et autorisation accord&eacute;e au g&eacute;rant commandit&eacute; d'augmenter le capital actions de la soci&eacute;t&eacute; dans les limites de
l'autorisation&nbsp;; </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="2%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="95%" HEIGHT="22">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%" HEIGHT="19"><FONT FACE="Times New Roman">(iv)</FONT></TD>
<TD WIDTH="2%" HEIGHT="19">&nbsp;</TD>
<TD WIDTH="95%" HEIGHT="19"><FONT FACE="Times New Roman">diminution du capital actions de la soci&eacute;t&eacute;&nbsp;; et</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman">(v)</FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">vente de la totalit&eacute; ou de la quasi-totalit&eacute; de l'actif de la soci&eacute;t&eacute;. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3"><FONT FACE="Times New Roman">Pour les questions suivantes, une r&eacute;solution adopt&eacute;e &agrave; l'unanimit&eacute; de tous les associ&eacute;s de la soci&eacute;t&eacute; est n&eacute;cessaire&nbsp;: </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">(i)</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">le changement de domicile de la soci&eacute;t&eacute; (c'est-&agrave;-dire sa migration) par le changement de la nationalit&eacute; de la soci&eacute;t&eacute;&nbsp;; et </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman">(ii)</FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">l'&eacute;valuation des associ&eacute;s.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman"> </FONT><FONT FACE="Times New Roman">Les actions, g&eacute;n&eacute;ralement, votent comme une cat&eacute;gorie unique. Pour les questions qui n'ont un effet n&eacute;gatif que sur les droits des d&eacute;tenteurs des
actions d'une cat&eacute;gorie d'actions particuli&egrave;re, un quorum (si et lorsqu'il est exig&eacute; par la loi) compos&eacute; de la moiti&eacute; des actions &eacute;mises en circulation de la cat&eacute;gorie en question et un vote &agrave;
la majorit&eacute; des deux-tiers des actions de cette cat&eacute;gorie sont n&eacute;cessaires, et pour ces questions uniquement les d&eacute;tenteurs votent comme une cat&eacute;gorie distincte.</FONT></P>
<P><B><FONT FACE="Times New Roman">Article 11 - Avis de convocation</FONT></B></P>

<P><FONT FACE="Times New Roman">Les assembl&eacute;es des actionnaires sont convoqu&eacute;es par le g&eacute;rant commandit&eacute; ou par le conseil de surveillance, en application d'un avis de convocation stipulant l'ordre du jour, envoy&eacute;
par courrier recommand&eacute; au moins huit jours avant l'assembl&eacute;e &agrave; chaque actionnaire &agrave; l'adresse de l'actionnaire figurant dans le registre aux fins de notification ou, &agrave; d&eacute;faut, &agrave; son domicile figurant
dans le registre des actionnaires de la soci&eacute;t&eacute; ou par deux publications dans la presse luxembourgeoise et deux publications dans le journal officiel du Luxembourg (<I>M&eacute;morial</I>), la premi&egrave;re publication paraissant de
telle sorte que la seconde publication soit effectu&eacute;e au moins huit jours avant l'assembl&eacute;e et qu'il existe un intervalle d'au moins huit jours entre la premi&egrave;re et la seconde publication de l'assembl&eacute;e.</FONT></P>

<P></P>

<P><FONT FACE="Times New Roman">Si tous les actionnaires sont pr&eacute;sents ou repr&eacute;sent&eacute;s &agrave; une assembl&eacute;e des actionnaires, et s'ils d&eacute;clarent qu'ils ont &eacute;t&eacute; inform&eacute;s de l'ordre du jour de
l'assembl&eacute;e, l'assembl&eacute;e peut &ecirc;tre tenue sans pr&eacute;avis. </FONT></P>

<P><FONT FACE="Times New Roman">Le g&eacute;rant commandit&eacute; peut fixer toutes les conditions raisonnables qui doivent &ecirc;tre remplies par les actionnaires pour leur permettre de participer &agrave; toute assembl&eacute;e des
actionnaires.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 12 - Attributions de l'assembl&eacute;e des actionnaires</FONT></B></P>

<P><FONT FACE="Times New Roman">Toute assembl&eacute;e r&eacute;guli&egrave;rement constitu&eacute;e des actionnaires de la soci&eacute;t&eacute; repr&eacute;sente l'ensemble des actionnaires de la soci&eacute;t&eacute;. L'assembl&eacute;e des
actionnaire ne peut adopter de r&eacute;solution sur toute question qu'avec l'accord du g&eacute;rant commandit&eacute;.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 13 - G&eacute;rance</FONT></B></P>

<P><FONT FACE="Times New Roman">La soci&eacute;t&eacute; est g&eacute;r&eacute;e par le g&eacute;rant commandit&eacute; qui est l'associ&eacute; responsable et qui est personnellement, conjointement et solidairement responsable avec la
soci&eacute;t&eacute; de tout passif qui ne peut pas &ecirc;tre r&eacute;gl&eacute; sur l'actif de la soci&eacute;t&eacute;. </FONT></P>

<P><FONT FACE="Times New Roman">Le g&eacute;rant commandit&eacute; est investi des pouvoirs les plus &eacute;tendus pour ex&eacute;cuter tous actes d'administration et de disposition dans l'int&eacute;r&ecirc;t de la soci&eacute;t&eacute; qui ne
sont pas express&eacute;ment r&eacute;serv&eacute;s par la loi ou les pr&eacute;sents statuts &agrave; l'assembl&eacute;e des actionnaires ou au conseil de surveillance.</FONT></P>

<P><FONT FACE="Times New Roman">Le g&eacute;rant commandit&eacute; a le pouvoir exclusif d'engager et de diriger des poursuites judiciaires et de n&eacute;gocier, r&eacute;gler &agrave; l'amiable et transiger sur des litiges pour le compte de la
soci&eacute;t&eacute;, et il peut d&eacute;l&eacute;guer ce pouvoir &agrave; toutes autres personnes ou tous autres comit&eacute;s qu'il peut d&eacute;signer, sous r&eacute;serve que le conseil de surveillance ait approuv&eacute; les personnes ou
comit&eacute;s auxquels ce pouvoir est d&eacute;l&eacute;gu&eacute; par le g&eacute;rant commandit&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">Le g&eacute;rant commandit&eacute; a le pouvoir, pour le compte et au nom de la soci&eacute;t&eacute;, d'exercer tous les objets de la soci&eacute;t&eacute;, d'effectuer tous actes et de conclure et d'ex&eacute;cuter
tous contrats et autres engagements qu'il peut juger n&eacute;cessaires, souhaitables, utiles ou accessoires &agrave; ces objets. Sauf stipulation contraire expresse, le g&eacute;rant commandit&eacute; dispose des pleins pouvoirs
discr&eacute;tionnaires d'exercer, pour le compte de la soci&eacute;t&eacute;, tous les droits et pouvoirs n&eacute;cessaires ou utiles &agrave; l'accomplissement des objets de la soci&eacute;t&eacute;.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 14 - D&eacute;l&eacute;gation de signature</FONT></B></P>

<P><FONT FACE="Times New Roman">La soci&eacute;t&eacute; est li&eacute;e par la signature sociale du g&eacute;rant commandit&eacute; exprim&eacute;e par les signatures individuelles ou conjointes de toutes autres personnes auxquelles ce pouvoir a
&eacute;t&eacute; d&eacute;l&eacute;gu&eacute; par le g&eacute;rant commandit&eacute;, de la mani&egrave;re que le g&eacute;rant commandit&eacute; fixe &agrave; son enti&egrave;re discr&eacute;tion, sous r&eacute;serve de l'approbation par le
conseil de surveillance des personnes auxquelles le g&eacute;rant commandit&eacute; d&eacute;l&egrave;gue ce pouvoir. </FONT></P>

<P><B><FONT FACE="Times New Roman">Article 15 - R&eacute;mun&eacute;ration du g&eacute;rant commandit&eacute;&nbsp;; frais</FONT></B></P>

<P><FONT FACE="Times New Roman">Le g&eacute;rant commandit&eacute; ne re&ccedil;oit aucune r&eacute;mun&eacute;ration au titre de ses services de la part de la soci&eacute;t&eacute;. Dans la plus grande mesure autoris&eacute;e par la loi, mais sans
pr&eacute;judice du deuxi&egrave;me paragraphe de l'article 8, la soci&eacute;t&eacute; supporte et rembourse les co&ucirc;ts et frais encourus par le g&eacute;rant commandit&eacute; du fait de l'ex&eacute;cution de ses obligations et/ou des mesures
prises pour le compte et/ou dans l'int&eacute;r&ecirc;t de la soci&eacute;t&eacute; et peut accorder toutes avances au g&eacute;rant commandit&eacute; au titre de ces frais et co&ucirc;ts (dont notamment, les pertes, dommages-int&eacute;r&ecirc;ts
et frais de d&eacute;fense encourus du fait de demandes ou de menaces de demandes de tiers).</FONT></P>

<P></P>

<P><B><FONT FACE="Times New Roman">Article 16 - Conseil de surveillance</FONT></B></P>

<P><FONT FACE="Times New Roman">Les affaires de la soci&eacute;t&eacute; et sa situation financi&egrave;re, dont en particulier ses livres et comptes, sont contr&ocirc;l&eacute;s par un conseil de surveillance compos&eacute; d'au moins trois membres
du conseil (ci-apr&egrave;s, le &#171;&nbsp;conseil de surveillance&nbsp;&#187;).</FONT></P>

<P><FONT FACE="Times New Roman">Le conseil de surveillance est consult&eacute; par le g&eacute;rant commandit&eacute; sur les questions que le g&eacute;rant commandit&eacute; peut fixer, et il autorise toutes actions du g&eacute;rant
commandit&eacute; qui peuvent, en application de la loi ou des pr&eacute;sents statuts, d&eacute;passer le champ des pouvoirs du g&eacute;rant commandit&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">Le conseil de surveillance approuve les personnes d&eacute;sign&eacute;es p&eacute;riodiquement par le g&eacute;rant commandit&eacute; pour exercer les pouvoirs du g&eacute;rant commandit&eacute; quant &agrave; la
gestion de la soci&eacute;t&eacute;, et le g&eacute;rant commandit&eacute; n'agit que par l'interm&eacute;diaire de ces personnes.</FONT></P>

<P><FONT FACE="Times New Roman">Le conseil de surveillance est &eacute;lu par un vote &agrave; la majorit&eacute; simple de l'assembl&eacute;e g&eacute;n&eacute;rale des actionnaires pour une p&eacute;riode maximale de six ans, qui est renouvelable.
</FONT></P>

<P><FONT FACE="Times New Roman">L'assembl&eacute;e g&eacute;n&eacute;rale des actionnaires fixe la r&eacute;mun&eacute;ration du conseil de surveillance, le cas &eacute;ch&eacute;ant.</FONT></P>

<P><FONT FACE="Times New Roman">Le conseil de surveillance est convoqu&eacute; par son pr&eacute;sident (ainsi qu'il est nomm&eacute; par le conseil de surveillance parmi ses membres) ou par le g&eacute;rant commandit&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">Un avis de convocation &eacute;crit sera remis &agrave; tous les membres du conseil de surveillance au moins huit jours avant la tenue de la r&eacute;union du conseil, sauf en cas d'urgence, auquel cas la nature de
l'urgence est pr&eacute;cis&eacute;e dans l'avis de convocation. Il peut &ecirc;tre renonc&eacute; &agrave; cet avis de convocation par l'accord &eacute;crit, sous la forme d'un original ou par c&acirc;ble, t&eacute;l&eacute;gramme,
t&eacute;l&eacute;copie ou t&eacute;lex, de chaque membre. Un avis de convocation distinct n'est pas n&eacute;cessaire pour les r&eacute;unions individuelles tenues au lieu, &agrave; la date et &agrave; l'heure prescrits dans un document
adopt&eacute; pr&eacute;c&eacute;demment par voie de r&eacute;solution du conseil de surveillance. Si tous les membres du conseil de surveillance sont pr&eacute;sents ou repr&eacute;sent&eacute;s &agrave; une r&eacute;union du conseil de
surveillance, et s'ils d&eacute;clarent qu'ils ont &eacute;t&eacute; inform&eacute;s de l'ordre du jour de la r&eacute;union, la r&eacute;union peut &ecirc;tre tenue sans pr&eacute;avis.</FONT></P>

<P><FONT FACE="Times New Roman">Tout membre peut agir &agrave; toute r&eacute;union du conseil de surveillance en d&eacute;signant par &eacute;crit, sous la forme d'un original ou par c&acirc;ble, t&eacute;l&eacute;gramme, t&eacute;l&eacute;copie,
t&eacute;lex ou toute autre communication &eacute;lectronique, un autre membre pour le repr&eacute;senter.</FONT></P>

<P><FONT FACE="Times New Roman">Le conseil de surveillance ne peut d&eacute;lib&eacute;rer ou agir valablement que si au moins la majorit&eacute; de ses membres est pr&eacute;sente ou repr&eacute;sent&eacute;e. Les r&eacute;solutions adopt&eacute;es
&agrave; la majorit&eacute; des voix des membres pr&eacute;sents ou repr&eacute;sent&eacute; &agrave; la r&eacute;union sont approuv&eacute;es. Les r&eacute;solutions peuvent &eacute;galement &ecirc;tre adopt&eacute;es sous la forme d'un ou de
plusieurs instruments sign&eacute;s par tous les membres.</FONT></P>

<P><FONT FACE="Times New Roman">Aucun membre du conseil de surveillance n'est responsable au titre de toute faute, tout manquement ou tout d&eacute;faut de sa part &agrave; l'&eacute;gard de la soci&eacute;t&eacute; et chaque membre du conseil de
surveillance est indemnis&eacute; sur les fonds de la soci&eacute;t&eacute; de toutes responsabilit&eacute;s, pertes, dommages-int&eacute;r&ecirc;ts ou frais encourus du fait de l'ex&eacute;cution ou de la d&eacute;charge r&eacute;elle ou
all&eacute;gu&eacute;e de ses obligations ou de l'exercice de ses pouvoirs ou de toute autre mani&egrave;re dans le cadre de ses fonctions, sous r&eacute;serve que cette exon&eacute;ration de responsabilit&eacute; et cette indemnit&eacute; ne
s'&eacute;tendent pas &agrave; toute question qui les rendrait nulles en application du droits luxembourgeois.</FONT></P>

<P></P>

<P><B><FONT FACE="Times New Roman">Article 17 - Exercice - comptes</FONT></B></P>

<P><FONT FACE="Times New Roman">L'exercice de la soci&eacute;t&eacute; commence le 1er septembre et finit le 31 ao&ucirc;t de chaque ann&eacute;e.</FONT></P>

<P><FONT FACE="Times New Roman">Les comptes de la soci&eacute;t&eacute; sont tenus en euros et/ou en dollars des &Eacute;tats-Unis ou dans toute autre devise fongible que d&eacute;cide le g&eacute;rant commandit&eacute;.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 18 - Affectation des b&eacute;n&eacute;fices</FONT></B></P>

<P><FONT FACE="Times New Roman">Cinq pour-cent (5&nbsp;%) des b&eacute;n&eacute;fices annuels de la soci&eacute;t&eacute; sont affect&eacute;s &agrave; la r&eacute;serve l&eacute;gale, ainsi que la loi l'exige. Cette affectation cesse d'&ecirc;tre
n&eacute;cessaire d&egrave;s que la r&eacute;serve l&eacute;gale atteint dix pour-cent (10&nbsp;%) du capital actions nominal &eacute;mis de la soci&eacute;t&eacute; expos&eacute; &agrave; l'article 5 des pr&eacute;sentes, tel qu'il est
diminu&eacute; ou augment&eacute; p&eacute;riodiquement.</FONT></P>

<P><FONT FACE="Times New Roman">Le g&eacute;rant commandit&eacute; fixe la mani&egrave;re dont il est dispos&eacute; des b&eacute;n&eacute;fices nets annuels, et d&eacute;cide de verser des dividendes p&eacute;riodiquement, de la mani&egrave;re
qu'il juge, &agrave; son enti&egrave;re discr&eacute;tion, la mieux correspondre &agrave; l'objet social et &agrave; la politique de la soci&eacute;t&eacute;. Une assembl&eacute;e g&eacute;n&eacute;rale des actionnaires doit approuver la
d&eacute;cision du g&eacute;rant commandit&eacute; de verser des dividendes ainsi que de l'affectation des b&eacute;n&eacute;fices propos&eacute;e par le g&eacute;rant commandit&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">Chaque actionnaire dispose des droits &agrave; dividendes correspondants &agrave; sa participation. Chaque action ordinaire de cat&eacute;gorie II donne droit &agrave; son d&eacute;tenteur &agrave; recevoir un
dividende &eacute;gal &agrave; 10&nbsp;% de tout dividende auquel une action ordinaire de cat&eacute;gorie I donne droit &agrave; son d&eacute;tenteur, en num&eacute;raire ou en nature.</FONT></P>

<P><FONT FACE="Times New Roman">Les dividendes peuvent &ecirc;tre pay&eacute;s en euros ou en dollars des &Eacute;tats-Unis ou dans toute autre devise que le g&eacute;rant commandit&eacute; d&eacute;cide et ils peuvent &ecirc;tre pay&eacute;s aux
lieux et aux dates que le g&eacute;rant commandit&eacute; d&eacute;cide.</FONT></P>

<P><FONT FACE="Times New Roman">Le g&eacute;rant commandit&eacute; peut d&eacute;cider de payer des dividendes provisoires aux conditions et dans les limites pr&eacute;vues par la loi.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 19 - Dissolution et liquidation</FONT></B></P>

<P><FONT FACE="Times New Roman">La soci&eacute;t&eacute; peut &ecirc;tre dissoute volontairement par voie de r&eacute;solution adopt&eacute;e &agrave; une assembl&eacute;e g&eacute;n&eacute;rale des actionnaires avec l'accord du g&eacute;rant
commandit&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">La liquidation est ex&eacute;cut&eacute;e par un ou plusieurs liquidateurs (qui peuvent &ecirc;tre des personnes physiques ou morales) d&eacute;sign&eacute;s par une assembl&eacute;e g&eacute;n&eacute;rale des
actionnaires qui fixe &eacute;galement leurs pouvoirs et leur r&eacute;mun&eacute;ration.</FONT></P>

<P><FONT FACE="Times New Roman">Chaque d&eacute;tenteur d'actions de la soci&eacute;t&eacute; a droit (dans la mesure de la suffisance des fonds ou de l'actif disponibles) au remboursement du montant du capital actions nominal correspondant &agrave;
sa participation en actions. Les produits de la liquidation (le cas &eacute;ch&eacute;ant), dont le remboursement du capital actions nominal, sont pay&eacute;s de telle sorte que chaque action ordinaire de cat&eacute;gorie II donne droit &agrave;
son d&eacute;tenteur &agrave; recevoir un paiement &agrave; la liquidation &eacute;gal &agrave; 10&nbsp;% de tout paiement &agrave; la liquidation auquel une action ordinaire de cat&eacute;gorie I donne droit &agrave; son d&eacute;tenteur.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 20 - Modifications</FONT></B></P>

<P><FONT FACE="Times New Roman">Les pr&eacute;sents statuts peuvent &ecirc;tre modifi&eacute;s p&eacute;riodiquement par une assembl&eacute;e g&eacute;n&eacute;rale des actionnaires, sous r&eacute;serve des exigences de quorum et de majorit&eacute;
pr&eacute;vues par les lois du Luxembourg et sous r&eacute;serve de l'accord du g&eacute;rant commandit&eacute;.</FONT></P>

<P></P>

<P><B><FONT FACE="Times New Roman">Article 21 - Questions fiscales</FONT></B></P>

<P><FONT FACE="Times New Roman">Le g&eacute;rant commandit&eacute; peut, &agrave; son enti&egrave;re et exclusive discr&eacute;tion, faire tous choix fiscaux pour la soci&eacute;t&eacute;, sous r&eacute;serve que le g&eacute;rant commandit&eacute;
d&eacute;cide raisonnablement que tout choix de la sorte n'aura aucune incidence n&eacute;gative sur les actionnaires.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 22 - Droit applicable</FONT></B></P>

<P><FONT FACE="Times New Roman">Toutes les questions qui ne sont pas r&eacute;gies par les pr&eacute;sents statuts sont fix&eacute;es par l'application des dispositions du droit luxembourgeois, et notamment, de la loi.</FONT></P>

<P><B><FONT FACE="Times New Roman">Article 23 - D&eacute;finitions</FONT></B></P>

<P><FONT FACE="Times New Roman">Le &#171;&nbsp;cours moyen par action&nbsp;&#187; &agrave; toute date donn&eacute;e est &eacute;gal &agrave; la moyenne des cours de vente le plus &eacute;lev&eacute; et le plus faible des actions ordinaires de
cat&eacute;gorie A d'Accenture Ltd, tels qu'ils sont signal&eacute;s &agrave; la bourse de New York (ou si les actions ordinaires de cat&eacute;gorie A d'Accenture Ltd ne sont pas cot&eacute;es ou admises &agrave; l'&eacute;change &agrave; la bourse
de New York, &agrave; la bourse am&eacute;ricaine, ou si les actions ordinaires de cat&eacute;gorie A d'Accenture Ltd ne sont pas cot&eacute;es ou admises &agrave; l'&eacute;change &agrave; la bourse am&eacute;ricaine, au march&eacute; national
Nasdaq, ou si les actions ordinaires de cat&eacute;gorie A d'Accenture Ltd ne sont pas cot&eacute;es ou admises &agrave; l'&eacute;change au march&eacute; national Nasdaq, au march&eacute; hors cote tel qu'il est offert par toute
soci&eacute;t&eacute; membre de la bourse de New York et reconnue au plan national, s&eacute;lectionn&eacute;e par Accenture Ltd &agrave; cette fin), net des frais de courtage et des frais d'op&eacute;ration similaires fix&eacute;s pour la
soci&eacute;t&eacute; et par la soci&eacute;t&eacute;.</FONT></P>

<P><FONT FACE="Times New Roman">Le &#171;&nbsp;cours de march&eacute; d'une action ordinaire de cat&eacute;gorie A d'Accenture Ltd&nbsp;&#187; &agrave; toute date donn&eacute;e est &eacute;gal au prix moyen par action de cette date sauf si Accenture
Ltd vend (c'est-&agrave;-dire la date d'op&eacute;ration) une partie de ses actions ordinaires de cat&eacute;gorie A &agrave; cette date pour du num&eacute;raire, autrement que dans le cadre d'une op&eacute;ration avec tout employ&eacute; ou toute
soci&eacute;t&eacute; li&eacute;e et autrement qu'en application d'une obligation ant&eacute;rieure&nbsp;; auquel cas le &#171;&nbsp;cours de march&eacute; d'une action ordinaire de cat&eacute;gorie A d'Accenture Ltd&nbsp;&#187; de cette date est
&eacute;gal &agrave; la moyenne pond&eacute;r&eacute;e du cours de vente par action net des frais de courtage et frais similaires.</FONT></P>

<P><FONT FACE="Times New Roman">Le &#171;&nbsp;rapport d'&eacute;valuation&nbsp;&#187; est &agrave; tout moment &eacute;gal &agrave; 1,00, sous r&eacute;serve que le rapport d'&eacute;valuation soit sous r&eacute;serve d'un ajustement
p&eacute;riodique en application des dispositions suivantes du pr&eacute;sent article 23 Si &agrave; tout moment&nbsp;: </FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="0"><FONT FACE="Times New Roman">(i)</FONT></TD>
<TD WIDTH="0">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman">Accenture Ltd acquiert ou d&eacute;tient autrement un montant d'actif sup&eacute;rieur &agrave; un montant <I>de miminis</I> autre que&nbsp;: </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%"><FONT FACE="Times New Roman">(A)</FONT></TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">sa participation dans la soci&eacute;t&eacute;, </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="2%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="3%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="3%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="95%" HEIGHT="22">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">
<P><FONT FACE="Times New Roman">(B)</FONT>&nbsp;</P>
</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">tout int&eacute;r&ecirc;t direct ou indirect dans ses propres actions (sous r&eacute;serve que ces actions ne soient pas trait&eacute;es comme actif d'Accenture Ltd sur un bilan consolid&eacute;
d'Accenture Ltd pr&eacute;par&eacute; conform&eacute;ment aux principes comptables g&eacute;n&eacute;ralement admis aux &Eacute;tats-Unis d'Am&eacute;rique) ou</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%" HEIGHT="38">&nbsp;</TD>
<TD WIDTH="2%" HEIGHT="38">&nbsp;</TD>
<TD WIDTH="3%" HEIGHT="38">(C)</TD>
<TD WIDTH="3%" HEIGHT="38">&nbsp;</TD>
<TD WIDTH="95%" HEIGHT="38"><FONT FACE="Times New Roman">tout actif qu'elle d&eacute;tient uniquement &agrave; titre provisoire avant d'apporter ou de pr&ecirc;ter cet actif &agrave; la soci&eacute;t&eacute; (sous r&eacute;serve que tout actif de la
sorte </FONT><FONT FACE="Times New Roman">d&eacute;tenu provisoirement soit ainsi apport&eacute; ou pr&ecirc;t&eacute; avant la fin du trimestre en cours de l'exercice d'Accenture Ltd),</FONT> </TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%"><FONT FACE="Times New Roman">(ii)</FONT></TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">Accenture Ltd encourt ou est responsable un montant de passif sup&eacute;rieur &agrave; un montant <I>de miminis</I> qu'un passif dont elle r&eacute;pond au titre d'un passif correspondant de la
soci&eacute;t&eacute; ou </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="2%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="3%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="3%" HEIGHT="22">&nbsp;</TD>
<TD WIDTH="95%" HEIGHT="22">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">
<P><FONT FACE="Times New Roman">(iii)</FONT>&nbsp;</P>
</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">les circonstances en exigent autrement, alors</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%"><FONT FACE="Times New Roman">(1)</FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman">le g&eacute;rant commandit&eacute; informe sans d&eacute;lai le conseil de surveillance et les membres du conseil de surveillance qui sont &eacute;galement associ&eacute;s commanditaires (en cette
qualit&eacute;, le &#171;&nbsp;comit&eacute; des associ&eacute;s commanditaires&nbsp;&#187;) de ce fait, </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%"><FONT FACE="Times New Roman">(2)</FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman">le g&eacute;rant commandit&eacute; communique au comit&eacute; des associ&eacute;s commanditaires toutes autres informations, dont les informations ou &eacute;tats financiers, que le comit&eacute; des
associ&eacute;s commanditaires peut raisonnablement demander en rapport avec les d&eacute;cisions envisag&eacute;es par l'alin&eacute;a (3) suivant de la pr&eacute;sente phrase et </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">(3)</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman">le g&eacute;rant commandit&eacute; et le comit&eacute; des associ&eacute;s commanditaires mettent en _uvre tous les moyens possibles pour&nbsp;:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%" HEIGHT="39">&nbsp;</TD>
<TD WIDTH="2%" HEIGHT="39">&nbsp;</TD>
<TD WIDTH="3%" HEIGHT="39"><FONT FACE="Times New Roman">(x)</FONT></TD>
<TD WIDTH="3%" HEIGHT="39">&nbsp;</TD>
<TD WIDTH="95%" HEIGHT="39"><FONT FACE="Times New Roman">d&eacute;terminer sans d&eacute;lai si un ajustement du rapport d'&eacute;valuation est n&eacute;cessaire pour refl&eacute;ter les valeurs justes de march&eacute; relatives d'une action
ordinaire de cat&eacute;gorie A d'Accenture Ltd et d'une action ordinaire de cat&eacute;gorie I et</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%"><FONT FACE="Times New Roman">(y)</FONT></TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman">si un tel ajustement est n&eacute;cessaire, d&eacute;terminer sans d&eacute;lai une m&eacute;thode d'ajustement &eacute;quitable du rapport d'&eacute;valuation (fond&eacute;e sur les &eacute;tats
financiers d'Accenture Ltd ou autrement, et si cette m&eacute;thode ne concerne qu'un seul ajustement ou des ajustements r&eacute;currents).</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman">Si le g&eacute;rant commandit&eacute; et le comit&eacute; des associ&eacute;s commanditaires d&eacute;cident qu'un ajustement du rapport d'&eacute;valuation est n&eacute;cessaire, et d&eacute;terminent une
m&eacute;thode d'ajustement &eacute;quitable du rapport d'&eacute;valuation, alors le rapport d'&eacute;valuation est ajust&eacute; au moyen de cette m&eacute;thode. S'il n'est parvenu &agrave; aucun accord rapide (mais dans tous les cas dans un
d&eacute;lai de 45 jours) entre le g&eacute;rant commandit&eacute; et le comit&eacute; des associ&eacute;s commanditaires quant &agrave; la n&eacute;cessit&eacute; ou non d'un tel ajustement ou la d&eacute;termination d'une m&eacute;thode
d'ajustement &eacute;quitable, alors le g&eacute;rant commandit&eacute; et le comit&eacute; des associ&eacute;s commanditaires choisissent un arbitre ind&eacute;pendant (qui peut &ecirc;tre une grande banque d'investissement) qui est un expert
reconnu dans le domaine de l'&eacute;valuation des soci&eacute;t&eacute; (x) pour d&eacute;cider si un ajustement du rapport d'&eacute;valuation est n&eacute;cessaire pour refl&eacute;ter les justes valeurs de march&eacute; relatives d'une action
ordinaire de cat&eacute;gorie A d'Accenture Ltd et d'une action ordinaire de cat&eacute;gorie I et (y) si un tel ajustement est n&eacute;cessaire, pour d&eacute;terminer une m&eacute;thode d'ajustement &eacute;quitable du rapport d'&eacute;valuation
(sur le fondement des &eacute;tats financiers d'Accenture Ltd ou autrement et si cette m&eacute;thode ne concerne qu'un seul ajustement ou des ajustement r&eacute;currents). Si l'arbitre d&eacute;cide qu'un ajustement du rapport d'&eacute;valuation
est ainsi n&eacute;cessaire et d&eacute;termine une m&eacute;thode d'ajustement &eacute;quitable du rapport d'&eacute;valuation, alors le rapport d'&eacute;valuation est ajust&eacute; au moyen cette m&eacute;thode.</FONT></P>
<P><FONT FACE="Times New Roman">Si Accenture Ltd:</FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%" HEIGHT="24">&nbsp;</TD>
<TD WIDTH="2%" HEIGHT="24">&nbsp;</TD>
<TD WIDTH="3%" HEIGHT="24"><FONT FACE="Times New Roman">(i)</FONT></TD>
<TD WIDTH="3%" HEIGHT="24">&nbsp;</TD>
<TD WIDTH="95%" HEIGHT="24"><FONT FACE="Times New Roman">paie un dividende ou effectue une distribution sur ses actions ordinaires de cat&eacute;gorie A d'Accenture Ltd en actions ordinaires de cat&eacute;gorie A d'Accenture Ltd, </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%" HEIGHT="15">&nbsp;</TD>
<TD WIDTH="2%" HEIGHT="15">&nbsp;</TD>
<TD WIDTH="3%" HEIGHT="15"><FONT FACE="Times New Roman">(ii)</FONT></TD>
<TD WIDTH="3%" HEIGHT="15">&nbsp;</TD>
<TD WIDTH="95%" HEIGHT="15"><FONT FACE="Times New Roman">sous-divise ses actions ordinaires de cat&eacute;gorie A d'Accenture Ltd en circulation en un plus grand nombre d'actions, </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" HEIGHT="16">&nbsp;</TD>
<TD WIDTH="2%" HEIGHT="16">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" HEIGHT="16"><FONT FACE="Times New Roman">(iii)</FONT></TD>
<TD WIDTH="3%" VALIGN="top" HEIGHT="16">&nbsp;</TD>
<TD WIDTH="95%" VALIGN="top" HEIGHT="16"><FONT FACE="Times New Roman">r&eacute;unit ses actions ordinaires de cat&eacute;gorie A d'Accenture Ltd en circulation en un plus petit nombre d'actions, </FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="95%" VALIGN="top">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" HEIGHT="14">&nbsp;</TD>
<TD WIDTH="2%" HEIGHT="14">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" HEIGHT="14"><FONT FACE="Times New Roman">(iv)</FONT></TD>
<TD WIDTH="3%" VALIGN="top" HEIGHT="14">&nbsp;</TD>
<TD WIDTH="95%" VALIGN="top" HEIGHT="14"><FONT FACE="Times New Roman">effectue une distribution sur ses actions ordinaires de cat&eacute;gorie A d'Accenture Ltd en actions de son capital actions autres que des actions ordinaires de cat&eacute;gorie
A d'Accenture Ltd ou</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="95%" VALIGN="top">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top"><FONT FACE="Times New Roman">(v)</FONT></TD>
<TD WIDTH="3%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="95%" VALIGN="top"><FONT FACE="Times New Roman">&eacute;met, par voie de nouvelle classification de ses actions ordinaires de cat&eacute;gorie A d'Accenture Ltd, toutes actions de son capital actions, </FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="95%">&nbsp;</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman">alors, le rapport d'&eacute;valuation en effet imm&eacute;diatement avant une telle mesure est ajust&eacute; de telle sorte que les d&eacute;tenteurs d'actions ordinaires de cat&eacute;gorie I rachet&eacute;es par la
suite puissent recevoir le prix de rachat ou le nombre d'actions dans le capital actions d'Accenture Ltd, selon le cas, dont ils auraient &eacute;t&eacute; propri&eacute;taires imm&eacute;diatement apr&egrave;s une telle mesure si ces actions
avaient &eacute;t&eacute; rachet&eacute;es imm&eacute;diatement avant cette mesure (apr&egrave;s avoir tenu compte de toute mesure correspondante prise par la soci&eacute;t&eacute;).</FONT></P>
<P><FONT FACE="Times New Roman">Dans le cas de toute association, fusion, restructuration, recapitalisation d'activit&eacute; ou de toute autre op&eacute;ration extraordinaire impliquant directement ou indirectement Accenture Ltd ou quelconque de
ses titres ou actifs, en cons&eacute;quence de quoi les d&eacute;tenteurs d'actions ordinaires de cat&eacute;gorie A d'Accenture Ltd d&eacute;tiennent des titres assortis de droits de vote dans une soci&eacute;t&eacute; autre qu'Accenture Ltd, les
termes &#171;&nbsp;actions ordinaires de cat&eacute;gorie A d'Accenture Ltd&nbsp;&#187; et &#171;&nbsp;Accenture Ltd&nbsp;&#187; feront r&eacute;f&eacute;rence aux titres assortis de droits de vote repr&eacute;sentant auparavant ou distribu&eacute;s
respectivement au titre d'actions ordinaires de cat&eacute;gorie A d'Accenture Ltd ou de cette soci&eacute;t&eacute;.</FONT></P>

<P ALIGN="CENTER"><B><I><FONT FACE="Times New Roman">PREVAILING VERSION - VERSION PREPONDERANTE</FONT></I></B></P>

<P ALIGN="center"><I><FONT FACE="Times New Roman">The present Articles of Association are worded in English followed by a French translation.
<BR>
In case of discrepancy between the English and the French text, the English version will prevail. </FONT></I></P>
<P ALIGN="center"><I><FONT FACE="Times New Roman">Les pr&eacute;sents statuts sont r&eacute;dig&eacute;s en langue anglaise suivi d'une version fran&ccedil;aise. En cas de
<BR>
divergences entre le texte anglais et le texte fran&ccedil;ais, le texte anglais fera foi.</FONT></I></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman">POUR COPIE CONFORME DES STATUTS,
<BR>
</FONT></B><B><FONT FACE="Times New Roman">COORDONNES &agrave; LA DATE DU 1<SUP>er</SUP>
juin 2001.
<BR>
</FONT></B><B><FONT FACE="Times New Roman">Sign&eacute; &agrave; Luxembourg, ce
<BR>
</FONT></B><B><FONT FACE="Times New Roman">TRUE CERTIFIED COPY OF THE UPDATED ARTICLES OF ASSOCIATION
<BR>
as at June 1<SUP>st</SUP>
, 2001.
<BR>
</FONT></B><B><FONT FACE="Times New Roman">Undersigned in Luxembourg, this</FONT></B></P>
 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>7
<FILENAME>dex109.htm
<DESCRIPTION>SUPPORT AGREEMENT
<TEXT>

<HTML>
<HEAD>
 <TITLE>SUPPORT AGREEMENT</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">
<P ALIGN=right><FONT FACE="Times New Roman, Times, serif" SIZE="2">Exhibit 10.9</FONT></P>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SUPPORT AGREEMENT</FONT></H1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THIS SUPPORT AGREEMENT </B>is entered into as of May 23, 2001, between Accenture Ltd, an exempted company registered under the laws of Bermuda
(&#147;ParentCo&#148;) and Accenture Canada Holdings Inc., a corporation incorporated under the laws of Ontario (the &#147;Corporation&#148;). </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, pursuant to a reorganization of the capital structure of the Corporation (the &#147;Reorganization&#148;), the Corporation issued
certain exchangeable shares (the &#147;Exchangeable Shares&#148;) having attached thereto certain rights, privileges, restrictions and conditions (collectively, the &#147;Exchangeable Share Provisions&#148;). </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>AND WHEREAS</B>, the parties hereto desire to make appropriate provision and to establish a procedure whereby ParentCo will take certain actions
and make certain payments and deliveries necessary to ensure that the Corporation will be able to make certain payments and to deliver or cause to be delivered Class A Shares in satisfaction of the obligations of the Corporation under the
Exchangeable Share Provisions with respect to the payment and satisfaction of dividends, Liquidation Amounts, Retraction Prices and Redemption Prices, all in accordance with the Exchangeable Share Provisions. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW, THEREFORE, </B>in consideration of the respective covenants and agreements provided in this agreement and for other good and valuable
consideration (the receipt and sufficiency of which are hereby acknowledged), the parties agree as follows: </FONT></P>

<H2 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ARTICLE 1</FONT></H2>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DEFINITIONS AND INTERPRETATION</FONT></H1>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1.1</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Defined Terms</U>. Except as expressed in the following sentence, each term denoted herein by initial capital letters and not otherwise defined herein shall have the meaning attributed thereto in the Exchangeable Share
Provisions, unless the context requires otherwise.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1.2</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Interpretation Not Affected by Headings, Etc</U>. The division of this agreement into articles, sections and paragraphs and the insertion of headings are for convenience of reference only and shall not affect the
construction or interpretation of this agreement.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1.3</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Number, Gender, Etc</U>. Words importing the singular number only shall include the plural and vice versa.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1.4</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Date for Any Action</U>. If any date on which any action is required to be taken under this agreement is not a Business Day, such action shall be required to be taken on the next succeeding Business Day.</FONT></TD>
</TR>
</TABLE>

<BR>
<H2 ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ARTICLE 2
<BR>
</FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>COVENANTS OF PARENTCO AND THE CORPORATION</FONT></H2>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.1</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Covenants of ParentCo Regarding Exchangeable Shares</U>. So long as any Exchangeable Shares are outstanding, ParentCo will: </FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> cause the Corporation to declare simultaneously with the declaration of any dividend on Class A Shares an equivalent dividend on the Exchangeable Shares and, when such dividend is paid on Class A Shares, cause the
Corporation to pay simultaneously therewith such equivalent dividend on the Exchangeable Shares, in each case in accordance with the Exchangeable Share Provisions;</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> advise the Corporation sufficiently in advance of the declaration by ParentCo of any dividend on Class A Shares and take all such other actions as are necessary, in cooperation with the Corporation, to ensure that the
respective declaration date, record date and payment date for a dividend on the Exchangeable Shares shall be the same as the record date, declaration date and payment date for the corresponding dividend on Class A Shares;</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> take all such actions and do all such things as are necessary or desirable to enable and permit the Corporation, in accordance with applicable law, to pay and otherwise perform its obligations with respect to the
satisfaction of the Exchangeable Share Consideration representing the Liquidation Amount in respect of each issued and outstanding Exchangeable Share upon the liquidation, dissolution or winding-up of the Corporation or any other distribution of the
assets of the Corporation for the purpose of winding up its affairs, including without limitation all such actions and all such things as are necessary or desirable to enable and permit the Corporation to cause to be delivered Class A Shares to the
holders of Exchangeable Shares in accordance with the provisions of Article 5 of the Exchangeable Share Provisions;</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> take all such actions and do all such things as are necessary or desirable to enable and permit the Corporation, in accordance with applicable law, to pay and otherwise perform its obligations with respect to the
satisfaction of the Exchangeable Share Consideration representing the Retraction Price and the Redemption Price, including without limitation all such actions and all such things as are necessary or desirable to enable and permit the Corporation to
cause to be delivered Class A Shares to the holders of Exchangeable Shares, upon the retraction or redemption of the Exchangeable Shares in accordance with the provisions of Article 6 or Article 7 of the Exchangeable Share Provisions, as the case
may be, if the Corporation proposes to deliver Class A Shares to such holders pursuant the such Articles of the Exchangeable Share Provisions.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.2</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Reservation of Class A Shares</U>. ParentCo hereby represents, warrants and covenants that it has irrevocably reserved for issuance and will at all times keep available, free from pre-emptive and other rights, within
its authorized and unissued share capital such number of Class A Shares (or other shares or securities into which Class A Shares may be reclassified or changed as contemplated by section 2.6 hereof) (a) as is equal to the number of Exchangeable
Shares issued and outstanding from time to time, and (b) as are now and may hereafter be required to enable and permit the Corporation to meet its obligations hereunder, under the Exchange Trust Agreement and under the Exchangeable Share
Provisions.</FONT></TD>
</TR>
</TABLE>

<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.3</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Notification of Certain Events</U>. In order to assist ParentCo to comply with its obligations hereunder, the Corporation will give ParentCo notice of each of the following events at the times set forth
below:</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> in the event of any determination by the Board of Directors of the Corporation in accordance with the Articles of the Corporation to institute voluntary liquidation, dissolution or winding-up proceedings with respect to
the Corporation or to effect any other distribution of the assets of the Corporation among its shareholders for the purpose of winding-up its affairs, at least 30 days prior to the proposed effective date of such liquidation, dissolution, winding-up
or other distribution;</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> immediately, upon the earlier of (i) receipt by the Corporation of notice of, and (ii) the Corporation otherwise becoming aware of, any threatened or instituted claim, suit, petition or other proceedings with respect to
the involuntary liquidation, dissolution or winding-up of the Corporation or to effect any other distribution of the assets of the Corporation among its shareholders for the purpose of winding-up its affairs;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> immediately, upon receipt by the Corporation of a Retraction Request (as defined in the Exchangeable Share Provisions); </FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> at least 30 days prior to any accelerated Automatic Redemption Date determined by the Board of Directors of the Corporation in accordance with the Exchangeable Share Provisions; and</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> as soon as practicable upon the issuance by the Corporation of any Exchangeable Shares. </FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.4</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Delivery of Class A Shares</U>. In furtherance of its obligations hereunder, upon notice of any event which requires the Corporation to cause to be delivered Class A Shares to any holder of Exchangeable Shares, ParentCo
shall forthwith issue and deliver, or procure the transfer of, the requisite Class A Shares to or to the order of the former holder of the surrendered Exchangeable Shares. All such Class A Shares shall be duly issued as fully paid and non-assessable
and shall be free and clear of any lien, claim, encumbrance, security interest or adverse claim or interest created by or through ParentCo.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.5</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Equivalence</U>. ParentCo hereby covenants and agrees to cause the Corporation to effect the necessary amendments to the Articles of the Corporation to ensure that the Exchangeable Shares are adjusted to fully reflect
the effect of any stock split, subdivision, combination, reverse split, stock dividend (including any dividend or distribution of securities convertible in Class A Shares), reorganization, reclassification, recapitalization or other like change with
respect to the Class A Shares occurring after the Effective Date.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.6</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Tenders Offers, Etc</U>. In the event that a tender offer, share exchange offer, issuer bid, take-over bid or similar transaction with respect to Class A Shares (an &#147;Offer&#148;) is proposed by ParentCo or is
proposed to ParentCo or its shareholders and is recommended by the Board of Directors of ParentCo, or is otherwise effected or to be effected, ParentCo shall, in good faith, take all such actions and do all such things as are necessary or desirable
to enable and permit holders of Exchangeable Shares to participate in such Offer to the same extent and on an equivalent basis as the holders of Class A Shares, without discrimination, including, without limiting the generality of the foregoing,
ParentCo will use its good faith efforts expeditiously to (and shall, in the case of a transaction proposed by ParentCo or where ParentCo is a participant in the negotiation thereof) ensure that holders of the Exchangeable Shares may participate in
all such Offers without being required to retract Exchangeable Shares as against the Corporation (or, if so required, to ensure that any such retraction shall be effective only upon, and shall be conditional upon, the closing of the Offer and only
to the extent necessary to tender or deposit to the Offer).</FONT></TD>
</TR>
</TABLE>

<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.7</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Ownership of Outstanding Shares</U>. Without the prior approval of the Corporation and the prior approval of the holders of the Exchangeable Shares given in accordance with Section 10.1 of the Exchangeable Share
Provisions, ParentCo covenants and agrees in favour of the Corporation that, as long as any outstanding Exchangeable Shares are owned by any person or entity other than ParentCo or any of its Subsidiaries, ParentCo or one or more of its Subsidiaries
will be and remain the direct or indirect beneficial owner of securities of the Corporation carrying or entitled to not less than 51% of the voting rights for the election of directors, in each case other than the Exchangeable Shares.
Notwithstanding the foregoing sentence, ParentCo shall not be in violation of this section 2.8 if any person or group of persons acquires Class A Shares pursuant to any merger of ParentCo in which ParentCo was not the surviving
corporation.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.8</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>ParentCo Not to Vote Exchangeable Shares</U>. ParentCo covenants and agrees that it will appoint and cause to be appointed proxy holders with respect to all Exchangeable Shares held by ParentCo and its Subsidiaries for
the sole purpose of attending each meeting of holders of Exchangeable Shares in order to be counted as part of the quorum for each such meeting. ParentCo further covenants and agrees that as long as any outstanding Exchangeble Shares are owned by
any person or entity other than ParentCo or any of its Subsidiaries, it will not, and will cause its Subsidiaries not to, exercise any voting rights which may be exercisable by holders of Exchangeable Shares from time to time pursuant to the
Exchangeable Shares held by it or by its Subsidiaries in respect of any matter considered at any meeting of holders of Exchangeable Shares.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.9</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Due Performance</U>. On and after the Effective Date, ParentCo shall duly and timely perform all of its obligations under this agreement and related agreements in respect of the Reorganization, including any obligations
that may arise upon the exercise of ParentCo&#146;s rights under the Exchangeable Share Provisions.</FONT></TD>
</TR>
</TABLE>

<BR>
<H2 ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ARTICLE 3
<BR>
CERTAIN RIGHTS OF PARENTCO TO ACQUIRE EXCHANGEABLE SHARES</FONT></H2>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.1</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>ParentCo Liquidation Call Right</U>. </FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> ParentCo shall have the overriding right (the &#147;Liquidation Call Right&#148;), in the event of and notwithstanding the proposed liquidation, dissolution or winding-up of the Corporation as referred to in Article 5 of
the Exchangeable Share Provisions, to purchase from all, but not less than all, of the holders of Exchangeable Shares on the Liquidation Date all but not less than all of the Exchangeable Shares held by each such holder on delivery by ParentCo to
each holder of the Exchangeable Share Price applicable on the last Business Day prior to the Liquidation Date (the &#147;Liquidation Call Purchase Price&#148;), which as provided in section 3.1, shall be fully paid and satisfied by the delivery by
or on behalf of ParentCo of the Exchangeable Share Consideration representing the Liquidation Call Purchase Price. In the event of the exercise of the Liquidation Call Right by ParentCo, it is intended that each holder shall be obligated to sell all
the Exchangeable Shares held by the holder to ParentCo on the Liquidation Date on payment by ParentCo to the holder of the Exchange Share Consideration representing the Liquidation Call Purchase Price for each such share, as provided in section 5.4
of the Exchangeable Share Provisions. The Corporation agrees, for the benefit of ParentCo, to enforce against the holders of Exchangeable Share Provisions, to such effect.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> To exercise the Liquidation Call Right, ParentCo must notify the Corporation of ParentCo&#146;s intention to exercise such right at least ten days before the Liquidation Date in the case of a voluntary liquidation,
dissolution or winding-up of the Corporation and at least five<B> </B>Business Days before the Liquidation Date in the case of an involuntary liquidation, dissolution or winding-up of the Corporation. The Corporation will notify the holders of
Exchangeable Shares as to whether or not ParentCo has exercised the Liquidation Call Right forthwith after the expiry of the date by which the same may be exercised by ParentCo. If ParentCo exercises the Liquidation Call Right, on the Liquidation
Date, ParentCo will purchase all of the Exchangeable Shares then outstanding for the Exchangeable Share Consideration representing the total Liquidation Call Purchase Price.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> For the purposes of completing the purchase of the Exchangeable Shares pursuant to the Liquidation Call Right, ParentCo shall deposit with the Corporation, on or before the Liquidation Date, the Exchangeable Share
Consideration for all of the Exchangeable Shares. Provided that such Exchangeable Share Consideration has been so deposited with the Corporation, on and after the Liquidation Date the right of each holder of Exchangeable Shares will be limited to
receiving such holder&#146;s proportionate share of such Exchangeable Share Consideration representing the total Liquidation Call Purchase Price payable by ParentCo without interest upon presentation and surrender by the holder of certificates
representing the Exchangeable Shares held by such holder. Upon surrender to the Corporation of a certificate or certificates representing the Exchangeable Shares, together with such other documents and instruments as may be required to effect a
transfer of Exchangeable Shares under the Act and the by-laws of the Corporation and such additional documents and instruments as the Corporation may reasonably require, the holder of such surrendered certificate or certificates shall be entitled to
receive in exchange therefor, and the Corporation on behalf of ParentCo shall deliver to such holder, the Exchangeable Share Consideration to which the holder is entitled. If ParentCo does not exercise the Liquidation Call Right in the manner
described above, on the Liquidation Date the holders of the Exchangeable Shares will be entitled to receive in exchange therefor the Exchangeable Share Consideration representing the Liquidation Amount otherwise payable by the Corporation in
connection with the liquidation, dissolution or winding-up of the Corporation pursuant to Article 5 of the Exchangeable Share Provisions.</FONT></TD>
</TR>
</TABLE>

<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.2</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>ParentCo Redemption Call Right</U>. </FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> ParentCo shall have the overriding right (the &#147;Redemption Call Right&#148;), notwithstanding the proposed redemption of the Exchangeable Shares by the Corporation pursuant to Article 7 of the Exchangeable Share
Provisions, to purchase from all, but not less than all, of the holders of Exchangeable Shares on the Automatic Redemption Date all but not less than all of the Exchangeable Shares held by each such holder, other than any Subsidiary of ParentCo, on
payment by ParentCo to the holder of the Exchangeable Share Price applicable on the last Business Day prior to the Automatic Redemption Date (the &#147;Redemption Call Purchase Price&#148;), which as provided in this section 3.2, shall be fully paid
and satisfied by the delivery by or on behalf of ParentCo of the Exchangeable Share Consideration representing the Redemption Call Purchase Price. In the event of the exercise of the Redemption Call Right by ParentCo, it is intended that each holder
shall be obligated to sell all the Exchangeable Shares held by the holder to ParentCo on the Automatic Redemption Date on payment by ParentCo to the holder of Exchangeable Share Consideration representing the Redemption Call Purchase Price for each
such share as provided in section 7.4 of the Exchangeable Share Provisions. The Corporation agrees, for the benefit of ParentCo, to enforce against the holders of Exchangeable Shares the provisions of section 7.4 of the Exchangeable Share Provisions
to such effect.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> To exercise the Redemption Call Right, ParentCo must notify the Corporation of ParentCo&#146;s intention to exercise such right at least five days before the Automatic Redemption Date. The Corporation will notify the
holders of the Exchangeable Shares as to whether or not ParentCo has exercised the Redemption Call Right forthwith after the date by which the same may be exercised by ParentCo. If ParentCo exercises the Redemption Call Right, on the Automatic
Redemption Date, ParentCo will purchase all of the Exchangeable Shares then outstanding for the Exchangeable Share Consideration representing the total Redemption Call Purchase Price.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> For the purposes of completing the purchase of the Exchangeable Shares pursuant to the Redemption Call Right, ParentCo shall deposit with the Corporation, on or before the Automatic Redemption Date, the Exchangeable Share
Consideration for all the then outstanding Exchangeable Shares representing the total Redemption Call Purchase Price. Provided that such Exchangeable Share Consideration has been so deposited with the Corporation, on and after the Automatic
Redemption Date the rights of each holder of Exchangeable Shares will be limited to receiving such holder&#146;s proportionate share of the Exchangeable Share Consideration representing the total Redemption Call Purchase Price payable by ParentCo
upon presentation and surrender by the holder of certificates representing the Exchangeable Shares held by such holder. Upon surrender to the Corporation of a certificate or certificates representing Exchangeable Shares, together with such other
documents and instruments as may be required to effect a transfer of Exchangeable Shares under the Act as the Corporation may reasonably require, the holder of such surrendered certificate or certificates shall be entitled to receive in exchange
therefor, and the Corporation shall deliver to such holder, the Exchangeable Share Consideration to which the holder is entitled. If ParentCo does not exercise the Redemption Call Right in the manner described above, on the Automatic Redemption
Date, the holders of the Exchangeable Shares will be entitled to receive in exchange therefor the Exchangeable Share Consideration representing the Redemption Price otherwise payable by the Corporation in connection with the redemption of the
Exchangeable Shares pursuant to Article 7 of the Exchangeable Share Provisions.</FONT></TD>
</TR>
</TABLE>

<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.3</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Exchange Put Right</U>. Upon and subject to the terms and conditions contained in the Exchangeable Share Provisions and the Exchange Trust Agreement: </FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> A holder of Exchangeable Shares shall have the right (the &#147;Exchange Put Right&#148;) at any time to require ParentCo to purchase all or any part of the Exchangeable Shares of the holder; and</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3> Upon the exercise by the holder of the Exchange Put Right, it is intended that the holder shall be required to sell to ParentCo, and ParentCo shall be required to purchase from the holder, that number of Exchangeable
Shares in respect of which the Exchange Put Right is exercised, in consideration of the payment by ParentCo of the Exchangeable Share Price for each Exchangeable Share in respect of which the Exchange Put Right has been exercised by such holder. The
Corporation agrees, for the benefit of ParentCo, to enforce against the holders of Exchangeable Shares the provisions of section 8.1 of the Exchangeable Share Provisions to such effect.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.4</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Assignment</U>. ParentCo shall have the unqualified right, at any time and from time to time, to assign any or all of its rights under this Article 3 or Section 6.1 of the Exchangeable Share Provisions or both to any
Canadian Subsidiary of ParentCo (other than the Corporation), and if any such assignment is made, such Canadian Subsidiary may exercise all of ParentCo&#146;s rights hereunder and perform all of ParentCo&#146;s obligations hereunder arising from the
exercise of such rights as fully as ParentCo might; provided, however, that nothing herein shall affect in any way the obligation of ParentCo, which obligation shall be absolute and continuing notwithstanding any such assignment, to provide Class A
Shares or to pay money, in the amounts and at times required hereunder, in order to permit such Canadian Subsidiary to exercise ParentCo&#146;s rights and to perform ParentCo&#146;s obligations hereunder. ParentCo hereby, as primary obligor,
unconditionally and irrevocably guarantees the prompt and complete payment and performance, as and when due, by any such Canadian Subsidiary of any obligations of ParentCo arising from any such assignment that may be made by ParentCo
hereunder.</FONT></TD>
</TR>
</TABLE>

<BR>

<H2 ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ARTICLE 4</FONT></H2>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>GENERAL</FONT></H1>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.1</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Term</U>. This agreement shall come into force and be effective as of the date hereof and shall terminate and be of no further force and effect at such time as no Exchangeable Shares (or securities or rights convertible
into or exchangeable for or carrying rights to acquire Exchangeable Shares) are held by any party other than ParentCo and any of its Subsidiaries.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.2</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Changes in Capital of ParentCo and the Corporation</U>. Notwithstanding the provisions of section 4.4 hereof, at all times after the occurrence of any event effected pursuant to Section 2.6 or 2.7 hereof, as a result of
which either ParentCo Class &#160;A Shares or the Exchangeable Shares or both are in any way changed, this agreement shall forthwith be amended and modified as necessary in order that it shall apply with full force and effect, mutatis mutandis, to
all new securities into which Class A Shares or the Exchangeable Shares or both are so changed, and the parties hereto shall execute and deliver an agreement in writing giving effect to and evidencing such necessary amendments and
modifications.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.3</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Severability</U>. If any provision of this agreement is held to be invalid, illegal or unenforceable, the validity, legality or enforceability of the remainder of this agreement shall not in any way be affected or
impaired thereby and this agreement shall be carried out as nearly as possible in accordance with its original terms and conditions.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.4</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Amendments, Modifications, Etc</U>. This agreement may not be amended or modified except by an agreement in writing executed by the Corporation and ParentCo and approved by the holders of the Exchangeable Shares in
accordance with Section 10.1 of the Exchangeable Share Provisions.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.5</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Ministerial Amendments</U>. Notwithstanding the provisions of Section 4.4 hereof, the parties to this agreement may in writing, at any time and from time to time, without the approval of the holders of the Exchangeable
Shares, amend or modify this agreement for the purposes of:</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=91%><FONT SIZE=3> adding to the covenants of either or both parties for the protection of the holders of the Exchangeable Shares; </FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)</FONT></TD>
<TD WIDTH=91%><FONT SIZE=3> </FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>making such amendments or modifications not inconsistent with this agreement as may be necessary or desirable with respect to matters or questions which, in the
opinion of the board of directors of each of the Corporation and ParentCo, it may be expedient to make, provided that each such board of directors shall be of the opinion that such amendments or modifications will not be prejudicial to the interests
of the holders of the Exchangeable Shares; or </FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)</FONT></TD>
<TD WIDTH=91%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>making such changes or corrections which, on the advice of counsel to the Corporation and ParentCo, are required for the purpose of curing or correcting any ambiguity or defect or
inconsistent provision or clerical omission or mistake or manifest error; provided that the boards of directors of each of the Corporation and ParentCo shall be of the opinion that such changes or corrections will not be prejudicial to the interests
of the holders of the Exchangeable Shares. </FONT><FONT SIZE=3> </FONT></TD>
</TR>
</TABLE>

<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.6</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Meeting to Consider Amendments</U>. The Corporation, at the request of ParentCo, shall call a meeting or meetings of the holders of the Exchangeable Shares for the purpose of considering any proposed amendment or
modification requiring approval of such shareholders. Any such meeting or meetings shall be called and held in accordance with the by-laws of the Corporation, the Exchangeable Share Provisions and all applicable laws.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.7</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Amendments Only in Writing</U>. No amendment to or modification or waiver of any of the provisions of this agreement otherwise permitted hereunder shall be effective unless made in writing and signed by both of the
parties hereto. </FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.8</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Enurement</U>. This agreement shall be binding upon and enure to the benefit of the parties hereto and the holders, from time to time, of Exchangeable Shares and each of their respective heirs, successors and
assigns.</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.9</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Notices to Parties</U>. All notices and other communications between the parties shall be in writing and shall be deemed to have been given if delivered personally or by confirmed telecopy to the parties at the
following addresses (or at such other address for either such party as shall be specified in like notice):</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=91%>
<P><FONT SIZE=3>if to ParentCo to: </FONT></P>

<P>Accenture Canada Holdings Inc.
<BR>
c/o Accenture LLP
<BR>
1661 Page Mill Road
<BR>
Palo Alto, CA 94304</P>

<P>Attn: President
<BR>
Fax: (650) 213-2222 </P>
</TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)</FONT></TD>
<TD WIDTH=91%>
<P><FONT SIZE=3>if to the Corporation to:</FONT></P>

<P>Accenture Canada Holdings Inc.
<BR>
5450 Explorer Drive
<BR>
Suite 400
<BR>
Mississauga, ON L4W 5M1 </P>

<P>Attn: President
<BR>
Fax: (416) 641-5090 </P>
</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Any notice or other communication shall be deemed to have been given and received upon delivery thereof and if given by telecopy shall be deemed to have been given and received on the date of
confirmed receipt thereof, unless such day is not a Business Day, in which case it shall be deemed to have been given and received upon the immediately following Business Day. </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.10</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Counterparts</U>. This agreement may be executed in counterparts, each of which shall be deemed an original, and all of which taken together shall constitute one and the same instrument.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.11</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Jurisdiction</U>. This agreement shall be construed and enforced in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein. </FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.12</FONT></TD>
<TD WIDTH=95%><FONT SIZE=3><U>Attornment</U>. ParentCo agrees that any action or proceeding arising out of or relating to this agreement may be instituted in the courts of Ontario, waives any objection which it may have now or hereafter to the venue
of any such action or proceeding, irrevocably submits to the jurisdiction of such courts in any such action or proceeding, agrees to be bound by any judgment of such courts and not to seek, and hereby waives, any review of the merits of any such
judgment by the courts of any other jurisdiction and hereby appoints the Corporation at its registered office in the Province of Ontario as ParentCo&#146;s attorney for service of process.</FONT></TD>
</TR>
</TABLE>
<P>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IN WITNESS WHEREOF, ParentCo and the Corporation have caused this agreement to be signed by
their respective officers thereunder duly authorized, all as of the date first written above. </P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD COLSPAN="2">ACCENTURE CANADA HOLDINGS INC.</TD>
</TR>
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="50%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD WIDTH="4%">By:</TD>
<TD WIDTH="50%">____________________________</TD>
</TR>
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="50%">David E. Seibel</TD>
</TR>
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="50%">President</TD>
</TR>
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="50%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD COLSPAN="2">ACCENTURE LTD.</TD>
</TR>
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="50%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD WIDTH="4%">By:</TD>
<TD WIDTH="50%">____________________________</TD>
</TR>
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="50%">Michael L. Emmons</TD>
</TR>
<TR>
<TD WIDTH="46%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="50%">Managing Director</TD>
</TR>
</TABLE>
 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.11
<SEQUENCE>8
<FILENAME>dex1011.htm
<DESCRIPTION>ARTICLES OF ASSOCIATION
<TEXT>

<HTML>
<HEAD>
 <TITLE>ARTICLES OF ASSOCIATION</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">
<DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">
<BR>
</FONT></DIV>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="875">
<TR>
<TD WIDTH="129">&nbsp;</TD>
<TD WIDTH="12">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5">&nbsp;</TD>
<TD WIDTH="12">&nbsp;</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="59">&nbsp;</TD>
<TD WIDTH="31">&nbsp;</TD>
<TD COLSPAN="5"> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Exhibit 10.11 </FONT> </DIV>
</TD>
</TR>
<TR>
<TD WIDTH="129"> <DIV ALIGN="center"><FONT SIZE="2">For Ministry Use Only
<BR>
A l'usage exclusif du minist&egrave;re</FONT></DIV>
</TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD VALIGN="top" COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"> <DIV ALIGN="center"></DIV>
</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="59">&nbsp;</TD>
<TD WIDTH="31">&nbsp;</TD>
<TD COLSPAN="4"> <DIV ALIGN="center"><FONT SIZE="2">Ontario Corporation Number
<BR>
Num&eacute;ro de la compagnie en Ontario</FONT><FONT SIZE="2"></FONT></DIV>
</TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"> <DIV ALIGN="center"><FONT SIZE="2">[STAMP]</FONT></DIV>
</TD>
<TD WIDTH="12"> <DIV ALIGN="center"><FONT SIZE="2"></FONT></DIV>
</TD>
<TD VALIGN="top" COLSPAN="5"> <DIV ALIGN="center"><FONT SIZE="2">[STAMP]</FONT><FONT SIZE="2"></FONT></DIV>
</TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"> <DIV ALIGN="center"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></DIV>
</TD>
<TD WIDTH="59">&nbsp;</TD>
<TD WIDTH="31">&nbsp;</TD>
<TD WIDTH="67">&nbsp;</TD>
<TD COLSPAN="2"> <DIV ALIGN="center"><FONT SIZE="2">1102773</FONT></DIV>
</TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD VALIGN="top" COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="7" HEIGHT="107">
<BR>

<P ALIGN="center"><FONT SIZE="2">NOVEMBER O1 NOVEMBRE, 1994</FONT></P>

<P ALIGN="center">&nbsp;</P>

<P>&nbsp;</P>
</TD>
<TD WIDTH="12" HEIGHT="107"> <DIV ALIGN="center"></DIV>
</TD>
<TD WIDTH="104" HEIGHT="107"> <DIV ALIGN="center"></DIV>
</TD>
<TD WIDTH="59" HEIGHT="107"> <DIV ALIGN="center"><FONT SIZE="2">Trans
<BR>
Code
<BR>
A
<BR>
18 </FONT></DIV>
</TD>
<TD WIDTH="31" HEIGHT="107"> <DIV ALIGN="center"><FONT SIZE="2">Line
<BR>
No.
<BR>
0
<BR>
20 </FONT></DIV>
</TD>
<TD WIDTH="67" HEIGHT="107"> <DIV ALIGN="center"><FONT SIZE="2">
<BR>
Stat.
<BR>
0
<BR>
28</FONT></DIV>
</TD>
<TD WIDTH="63" HEIGHT="107"> <DIV ALIGN="center"><FONT SIZE="2">Comp
<BR>
Type
<BR>
A
<BR>
29 </FONT></DIV>
</TD>
<TD WIDTH="61" HEIGHT="107"> <DIV ALIGN="center"><FONT SIZE="2">Method
<BR>
Incorp.
<BR>
3
<BR>
30 </FONT></DIV>
</TD>
<TD WIDTH="73" HEIGHT="107"> <DIV ALIGN="center"><FONT SIZE="2">
<BR>
Share
<BR>
S
<BR>
31 </FONT></DIV>
</TD>
<TD WIDTH="76" HEIGHT="107">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129" HEIGHT="11">&nbsp;</TD>
<TD WIDTH="12" HEIGHT="11">&nbsp;</TD>
<TD COLSPAN="5" HEIGHT="11">&nbsp;</TD>
<TD WIDTH="12" HEIGHT="11">&nbsp;</TD>
<TD WIDTH="104" HEIGHT="11">&nbsp;</TD>
<TD WIDTH="59" HEIGHT="11">&nbsp;</TD>
<TD WIDTH="31" HEIGHT="11">&nbsp;</TD>
<TD COLSPAN="2" HEIGHT="11">&nbsp;</TD>
<TD WIDTH="61" HEIGHT="11">&nbsp;</TD>
<TD WIDTH="73" HEIGHT="11">&nbsp;</TD>
<TD WIDTH="76" HEIGHT="11">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="7" VALIGN="bottom"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT> <DIV ALIGN="center"><FONT SIZE="2">[Signature] </FONT></DIV>
</TD>
<TD WIDTH="12"> <DIV ALIGN="center"></DIV>
</TD>
<TD WIDTH="104"> <DIV ALIGN="center"></DIV>
</TD>
<TD WIDTH="59"> <DIV ALIGN="center"><FONT SIZE="2">Notice
<BR>
Req'd
<BR>
N
<BR>
32 </FONT></DIV>
</TD>
<TD WIDTH="31">&nbsp;</TD>
<TD COLSPAN="2"> <DIV ALIGN="center"><FONT SIZE="2">Jurisdiction
<BR>
ONTARIO
<BR>
33&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT SIZE="2"></FONT><FONT SIZE="2">47</FONT></DIV>
</TD>
<TD WIDTH="61">&nbsp;</TD>
<TD WIDTH="73"> <DIV ALIGN="center"><FONT SIZE="2">
<BR>
A
<BR>
57 </FONT></DIV>
</TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="16"> <HR NOSHADE ALIGN="center" WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="14"> <DIV ALIGN="center"><FONT SIZE="2">ARTICLES OF AMALGAMATION
<BR>
STATUTS DE FUSION</FONT></DIV>
<FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2">1.</FONT></TD>
<TD COLSPAN="8"><FONT SIZE="2">&nbsp;The name of the amalgamated corporation is:</FONT><FONT SIZE="2">&nbsp;</FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31">&nbsp;</TD>
<TD COLSPAN="5"><FONT SIZE="2">D&eacute;nomination sociale de la compagnie issue de la fusion:</FONT></TD>
</TR>
<TR>
<TD WIDTH="129"> <DIV ALIGN="center"><FONT SIZE="2">Form 4
<BR>
Business
<BR>
Corporations
<BR>
Act
<BR>
Formule
<BR>
num&eacute;ro 4
<BR>
Loi
<BR>
sur les
<BR>
compagnies </FONT></DIV>
</TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="42"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT SIZE="2">1102773</FONT><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT>&nbsp;&nbsp;</TD>
<TD WIDTH="96">&nbsp;&nbsp;</TD>
<TD WIDTH="12">&nbsp;</TD>
<TD COLSPAN="2"> <DIV ALIGN="center"><FONT SIZE="2">O N T A R I O&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I N C&nbsp;.</FONT></DIV>
</TD>
<TD COLSPAN="3"> <DIV ALIGN="center"><FONT SIZE="2">&nbsp;</FONT></DIV>
</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="7">&nbsp;</TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12" VALIGN="top"><FONT SIZE="2">2.</FONT></TD>
<TD COLSPAN="8" VALIGN="top"><FONT SIZE="2">&nbsp;The address of the registered office is:</FONT><FONT SIZE="2"></FONT></TD>
<TD><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT SIZE="2">Adresse du si&egrave;ge social:</FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129">&nbsp;</TD>
<TD WIDTH="12">&nbsp;</TD>
<TD COLSPAN="5">&nbsp;</TD>
<TD WIDTH="12">&nbsp;</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="59">&nbsp;</TD>
<TD WIDTH="31">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61">&nbsp;</TD>
<TD WIDTH="73">&nbsp;</TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="7"><FONT SIZE="2">185 THE WEST MALL, SUITE 500</FONT><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129">&nbsp;</TD>
<TD WIDTH="12">&nbsp;</TD>
<TD COLSPAN="12"> <HR NOSHADE ALIGN="center" WIDTH="100%" SIZE="1"> </TD>
<TD WIDTH="73">&nbsp;</TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="12"> <DIV ALIGN="center"><FONT SIZE="2">(Street &amp; Number or R.R. Number &amp; if Multi-Office Building give Room No.)
<BR>
(Rue et num&eacute;ro ou num&eacute;ro de la R.R. et, s'il s'agit d'un &eacute;difice &agrave; bureau, num&eacute;ro du bureau)</FONT><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></DIV>
</TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="6"><FONT SIZE="2">ETOBICOKE, ONTARIO</FONT><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59">&nbsp;</TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="67">&nbsp;</TD>
<TD COLSPAN="2"> <DIV ALIGN="center"><FONT SIZE="2">M&nbsp;9&nbsp;C&nbsp;5&nbsp;L&nbsp;5</FONT></DIV>
</TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129">&nbsp;</TD>
<TD WIDTH="12">&nbsp;</TD>
<TD COLSPAN="12"> <HR NOSHADE ALIGN="center" WIDTH="100%" SIZE="1"> </TD>
<TD WIDTH="73">&nbsp;</TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="8"> <DIV ALIGN="center"><FONT SIZE="2"></FONT><FONT SIZE="2">(Name of Municipality or Post Office)</FONT><FONT SIZE="2"></FONT><FONT SIZE="2">
<BR>
(Nom de la munipalit&eacute; ou du bureau de poste)</FONT><FONT SIZE="2"></FONT><FONT SIZE="2"> </FONT><FONT SIZE="2"></FONT></DIV>
</TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="67">&nbsp;</TD>
<TD COLSPAN="2"> <DIV ALIGN="center"><FONT SIZE="2">(Postal Code)
<BR>
(Code postal)</FONT><FONT SIZE="2"></FONT><FONT SIZE="2"> </FONT></DIV>
</TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="6"><FONT SIZE="2">CITY OF ETOBICOKE</FONT></TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="59"> <DIV ALIGN="center"><FONT SIZE="2">in</FONT></DIV>
</TD>
<TD COLSPAN="6"> <DIV ALIGN="center"><FONT SIZE="2"></FONT><FONT SIZE="2">THE MUNICIPALITY OF METROPOLITAN TORONTO</FONT><FONT SIZE="2"></FONT></DIV>
</TD>
</TR>
<TR>
<TD WIDTH="129">&nbsp;</TD>
<TD WIDTH="12">&nbsp;</TD>
<TD COLSPAN="7"> <HR NOSHADE ALIGN="center" WIDTH="100%" SIZE="1"> </TD>
<TD WIDTH="59">&nbsp;</TD>
<TD COLSPAN="5"> <HR NOSHADE ALIGN="center" WIDTH="100%" SIZE="1"> </TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="7"> <DIV ALIGN="center"><FONT SIZE="2">(Name of Municipality, Geographic Township)
<BR>
(Nom de la municipalit&eacute;, du canton)</FONT></DIV>
</TD>
<TD WIDTH="59"> <DIV ALIGN="center"><FONT SIZE="2">dans le/la</FONT></DIV>
</TD>
<TD COLSPAN="5"><FONT SIZE="2"></FONT> <DIV ALIGN="center"><FONT SIZE="2">(County, District or Regional Municipality)
<BR>
(Cont&eacute;, district, municipalit&eacute; r&eacute;gionale)</FONT><FONT SIZE="2"></FONT></DIV>
</TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12" VALIGN="top"><FONT SIZE="2">3.</FONT></TD>
<TD COLSPAN="7"><FONT SIZE="2">&nbsp;Number (or minimum and maximum &nbsp;number) of directors is:</FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59">&nbsp;</TD>
<TD COLSPAN="5"><FONT SIZE="2">Nombre (ou nombres minimal et maximal) d'administrateur (s) :</FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="12"><FONT SIZE="2">A MINIMUM OF ONE (1) AND A MAXIMUM OF TEN (10).</FONT><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2">4. </FONT></TD>
<TD COLSPAN="6"><FONT SIZE="2">&nbsp;The director(s) is/are:</FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="59">&nbsp;</TD>
<TD WIDTH="31">&nbsp;</TD>
<TD COLSPAN="5"> <DIV ALIGN="left"><FONT SIZE="2">Administrateur(s):</FONT><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></DIV>
</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5"><FONT SIZE="2">First name, initials and last name
<BR>
Pr&eacute;nom, initiales et nom de famille</FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12">&nbsp;</TD>
<TD COLSPAN="5"><FONT SIZE="2">Residence address, giving Street &amp; No. or R.R. No., Municipality and Postal Code
<BR>
Adresse personnelle, y compris la rue et le num&eacute;ro, le num&eacute;ro de la R.R., le nom de la municipalit&eacute; et le code postal</FONT></TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73">
<P><FONT SIZE="2">Resident
<BR>
Canadian
<BR>
State
<BR>
Yes or No
<BR>
R&eacute;sident
<BR>
Canadien
<BR>
</FONT><FONT SIZE="2">Oui/Non</FONT></P>
</TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="16"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5" VALIGN="top"><FONT SIZE="2">ROBERT C. MANION</FONT><FONT SIZE="2"> </FONT></TD>
<TD WIDTH="12">&nbsp;</TD>
<TD COLSPAN="3" VALIGN="top">
<P><FONT SIZE="2">1200 BOTANY HILL
<BR>
OAKVILLE, ONTARIO
<BR>
</FONT><FONT SIZE="2">L6J&nbsp;&nbsp;6J5</FONT></P>
</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73" VALIGN="top"><FONT SIZE="2">YES</FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5" VALIGN="top"><FONT SIZE="2">DAVID E. SEIBEL</FONT><FONT SIZE="2">
<BR>
</FONT></TD>
<TD WIDTH="12">&nbsp;</TD>
<TD COLSPAN="3"><FONT SIZE="2"> </FONT><FONT SIZE="2">14 CEDAR ROAD
<BR>
GLOUCESTER, ONTARIO
<BR>
K1J&nbsp;&nbsp;6L4 </FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73" VALIGN="top"><FONT SIZE="2">YES</FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5"><FONT SIZE="2"></FONT><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="104"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="59"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="129"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="12"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="5" VALIGN="top"><FONT SIZE="2">RICHARD VON HAGEN</FONT></TD>
<TD WIDTH="12">&nbsp;</TD>
<TD COLSPAN="3"><FONT SIZE="2">1505 CAULDER DRIVE
<BR>
OAKVILLE, ONTARIO
<BR>
L6J&nbsp;&nbsp;5T1 </FONT><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="61"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="73" VALIGN="top"><FONT SIZE="2">YES</FONT></TD>
<TD WIDTH="76">&nbsp;</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<!--$$/page=[90468a.EX10_11]2 -->
<TABLE WIDTH="690" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="20">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="24"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.</FONT></TD>
<TD WIDTH="24" ALIGN="center" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A)</FONT></TD>
<TD WIDTH="300"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> The amalgamation agreement has been duly adopted by the Shareholders of each of the amalgamating corporations as required by subsection 176 (4) of the Business Corporations Act on
the date set out below. </FONT></TD>
<TD WIDTH="30" VALIGN="bottom" ALIGN="center">&nbsp;</TD>
<TD WIDTH="24" VALIGN="bottom" ALIGN="center"><FONT FACE="Wingdings">x</FONT></TD>
<TD WIDTH="30" VALIGN="top" ALIGN="center">&nbsp;</TD>
<TD WIDTH="24" VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A)</FONT></TD>
<TD WIDTH="300" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Les actionnaires de chaque compagnie qui fusionne ont d&ucirc;ment adopt&eacute; la convention de fusion conform&eacute;ment au paragraphe 176 (4) de la
Loi sur les compagnies &agrave; la date mentionn&eacute;e ci-dessous.</FONT></TD>
</TR>
<TR>
<TD WIDTH="20">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="300">&nbsp;</TD>
<TD WIDTH="30">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="30">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="300">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="20">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="300">&nbsp;</TD>
<TD WIDTH="30">&nbsp;</TD>
<TD WIDTH="24" VALIGN="baseline" ALIGN="center"><FONT FACE="r_symbol">&#158;</FONT></TD>
<TD WIDTH="30">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="300">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="20">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD COLSPAN="2" ALIGN="right" VALIGN="middle"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Check</FONT></TD>
<TD WIDTH="24">&nbsp;</TD>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Cocher</FONT></TD>
</TR>
<TR>
<TD WIDTH="20">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD COLSPAN="2" ALIGN="right" VALIGN="middle"><FONT SIZE="2" FACE="Times New Roman, Times, serif">A or B</FONT></TD>
<TD WIDTH="24">&nbsp;</TD>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif">A ou B</FONT></TD>
</TR>
<TR>
<TD WIDTH="20">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="24" ALIGN="center" VALIGN="top">&nbsp;</TD>
<TD WIDTH="300" VALIGN="top">&nbsp;</TD>
<TD WIDTH="30">&nbsp;</TD>
<TD WIDTH="24" ALIGN="center" VALIGN="top"><FONT FACE="r_symbol">&#159;</FONT></TD>
<TD WIDTH="30" ALIGN="center" VALIGN="top">&nbsp;</TD>
<TD WIDTH="24" ALIGN="center" VALIGN="top">&nbsp;</TD>
<TD WIDTH="300" VALIGN="top">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="20">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="24" ALIGN="center" VALIGN="top">&nbsp;</TD>
<TD WIDTH="300" VALIGN="top">&nbsp;</TD>
<TD WIDTH="30">&nbsp;</TD>
<TD WIDTH="24" ALIGN="center" VALIGN="middle">&nbsp;</TD>
<TD WIDTH="30" ALIGN="center" VALIGN="top">&nbsp;</TD>
<TD WIDTH="24" ALIGN="center" VALIGN="top">&nbsp;</TD>
<TD WIDTH="300" VALIGN="top">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="20">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="24" ALIGN="center" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">B) </FONT></TD>
<TD WIDTH="300" VALIGN="top">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">The amalgamation has been approved by the directors of each amalgamating corporation by a resolution as required by section 177 of the Business Corporations Act on the date set out below.
<BR>
The articles of amalgamation in substance contain the provisions of the articles of incorporation of </FONT></P>
</TD>
<TD WIDTH="30">&nbsp;</TD>
<TD WIDTH="24" ALIGN="center" VALIGN="top"><FONT FACE="Wingdings">o</FONT></TD>
<TD WIDTH="30" ALIGN="center" VALIGN="top">&nbsp;</TD>
<TD WIDTH="24" ALIGN="center" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">B)</FONT></TD>
<TD WIDTH="300" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Les administrateurs de chaque compagnie qui fusionne ont approuv&eacute; la fusion par voie de r&eacute;solution conform&eacute;ment &agrave; l'article 177 de la Loi
sur les compagnies &agrave; la date mentionn&eacute;e ci-dessous. Les statuts de fusion reprennent essentiellement les dispositions des statuts constitutifs de</FONT></TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD VALIGN="top">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD VALIGN="top">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="20">&nbsp;</TD>
<TD COLSPAN="8"> <HR NOSHADE WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD WIDTH="20">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="300"><FONT FACE="Times New Roman, Times, serif" SIZE="2">and are more particularly set out in these articles. </FONT></TD>
<TD WIDTH="30">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="30">&nbsp;</TD>
<TD WIDTH="24">&nbsp;</TD>
<TD WIDTH="300"><FONT FACE="Times New Roman, Times, serif" SIZE="2">et sont &eacute;nonc&eacute;s textuellement aux pr&eacute;sents statuts. </FONT></TD>
</TR>
<TR>
<TD COLSPAN="9">&nbsp;</TD>
</TR>
</TABLE>
<TABLE WIDTH="690" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD COLSPAN="6">&nbsp; </TD>
</TR>
<TR>
<TD WIDTH="37">&nbsp;</TD>
<TD WIDTH="202"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Names of amalgamating corporations
<BR>
D&eacute;nomination sociale des compagnies qui fusionnent </FONT></TD>
<TD WIDTH="35">&nbsp;</TD>
<TD WIDTH="202" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Ontario Corporation Number
<BR>
Num&eacute;ro de la compagnie en Ontario </FONT></TD>
<TD WIDTH="35">&nbsp;</TD>
<TD WIDTH="202" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Date of Adoption/Approval
<BR>
Date d'adoption ou d'approbation</FONT></TD>
</TR>
<TR>
<TD COLSPAN="6"> <HR NOSHADE WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD WIDTH="37">&nbsp;</TD>
<TD WIDTH="202"><FONT FACE="Times New Roman, Times, serif" SIZE="2">909701 ONTARIO INC.</FONT></TD>
<TD WIDTH="35">&nbsp;</TD>
<TD WIDTH="202" VALIGN="middle" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">909701</FONT></TD>
<TD WIDTH="35">&nbsp;</TD>
<TD WIDTH="202"><FONT FACE="Times New Roman, Times, serif" SIZE="2">October 26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 1994 </FONT></TD>
</TR>
<TR>
<TD WIDTH="37">&nbsp;</TD>
<TD WIDTH="202">&nbsp;</TD>
<TD WIDTH="35">&nbsp;</TD>
<TD WIDTH="202" VALIGN="middle" ALIGN="center">&nbsp;</TD>
<TD WIDTH="35">&nbsp;</TD>
<TD WIDTH="202">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="37">&nbsp;</TD>
<TD WIDTH="202"><FONT FACE="Times New Roman, Times, serif" SIZE="2">SYNERLOGIC INC</FONT></TD>
<TD WIDTH="35">&nbsp;</TD>
<TD WIDTH="202" VALIGN="middle" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> 836382</FONT></TD>
<TD WIDTH="35">&nbsp;</TD>
<TD WIDTH="202"><FONT FACE="Times New Roman, Times, serif" SIZE="2">October 26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 1994 </FONT></TD>
</TR>
<TR>
<TD WIDTH="37">&nbsp;</TD>
<TD WIDTH="202">&nbsp;</TD>
<TD WIDTH="35">&nbsp;</TD>
<TD WIDTH="202" VALIGN="middle" ALIGN="center">&nbsp;</TD>
<TD WIDTH="35">&nbsp;</TD>
<TD WIDTH="202">&nbsp;</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></P>
<P>&nbsp;</P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></P>
<FONT SIZE="2"></FONT>
<P> </P>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="690">
<TR>
<TD WIDTH="33" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">6.</FONT></TD>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Restrictions, if any, on business the corporation may carry on or on powers the corporation exercise.</FONT></TD>
<TD WIDTH="28" VALIGN="top">&nbsp;</TD>
<TD WIDTH="322" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Limites, s'il y a lieu, impos&#233;es aux activiti&#233;s commerciales ou aux pouvoirs de la compagnie.</FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="28">&nbsp;</TD>
<TD WIDTH="322">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">NONE.</FONT></TD>
<TD WIDTH="28">&nbsp;</TD>
<TD WIDTH="322"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD VALIGN="top" WIDTH="33">&nbsp;</TD>
<TD COLSPAN="3" VALIGN="top">&nbsp;</TD>
<TD VALIGN="top" WIDTH="28">&nbsp;</TD>
<TD VALIGN="top" WIDTH="322">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">7.</FONT></TD>
<TD COLSPAN="3" VALIGN="top">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> The classes and any maximum number of shares that the corporation is authorized to issue: </FONT></P>
</TD>
<TD WIDTH="28" VALIGN="top">&nbsp;</TD>
<TD WIDTH="322" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Catagori&#233;s et nombre maximal, s'il y a lieu, d'actions que la compagnie est autoris&#233;e &#225; &#233;mettre:</FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="28">&nbsp;</TD>
<TD WIDTH="322">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(1)</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">an unlimited number of common shares;</FONT></TD>
<TD WIDTH="28">&nbsp;</TD>
<TD WIDTH="322"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="28">&nbsp;</TD>
<TD WIDTH="322">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(2)</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">an unlimited number of Class A preference shares:</FONT></TD>
<TD WIDTH="28">&nbsp;</TD>
<TD WIDTH="322"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="28">&nbsp;</TD>
<TD WIDTH="322">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(3)</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">an unlimited number of Class B preference shares; and</FONT></TD>
<TD WIDTH="28">&nbsp;</TD>
<TD WIDTH="322"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="28">&nbsp;</TD>
<TD WIDTH="322">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(4)</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">an unlimited number of Class C preference shares.
<BR>
</FONT></TD>
<TD WIDTH="28">&nbsp;</TD>
<TD WIDTH="322"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
</TABLE>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="690">
<TR><TD> </TD></TR>
</TABLE>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="690">
<TR>
<TD WIDTH="33" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">8.</FONT></TD>
<TD COLSPAN="3" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Rights, privileges, restrictions and conditions (if any) attaching to each class of shares and directors authority with respect to any class of shares which may be
issued in series:</FONT></TD>
<TD WIDTH="37" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="2" WIDTH="340"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Droits, privil&#233;ges, restrictions et conditions, s'il y &#225; lieu, rettach&#233;s a chaque cat&#233;gorie d'actions et pouvoirs des administrateurs relatifs &#225;
chaque cat&#233;gorie d'actions qui peut &#233;tre &#233;mise en s&#233;rie:</FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29">&nbsp;</TD>
<TD WIDTH="219">&nbsp;</TD>
<TD WIDTH="37">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="340">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(1)</FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The rights, privileges, restrictions and conditions attaching to the <B>common shares </B>are as follows:</FONT></TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="219">&nbsp;</TD>
<TD WIDTH="37">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="340"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Voting Rights</U></FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29">&nbsp;</TD>
<TD WIDTH="219">&nbsp;</TD>
<TD WIDTH="37">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="340">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The holders of the common shares shall be entitled to receive notice of and to attend all meetings of shareholders of the Corporation and each common share shall confer the right to
one (1) vote in person or by proxy at all such meetings of shareholders of the Corporation.</FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29">&nbsp;</TD>
<TD WIDTH="219">&nbsp;</TD>
<TD WIDTH="37">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="340">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(b)</FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Dividends</U></FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29">&nbsp;</TD>
<TD WIDTH="219">&nbsp;</TD>
<TD WIDTH="37">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="340">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the prior rights of the holders of the preference shares, the holders of the common shares shall be entitled to receive any dividend declared by the Corporation in
respect of the common shares.</FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29">&nbsp;</TD>
<TD WIDTH="219">&nbsp;</TD>
<TD WIDTH="37">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="340">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Participation upon Liquidation, Dissolution or Winding-Up</U></FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29">&nbsp;</TD>
<TD WIDTH="219">&nbsp;</TD>
<TD WIDTH="37">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="340">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the event of the liquidation, dissolution or winding-up of the Corporation or other distribution of assets or property of the Corporation among shareholders for the purpose of
winding-up its affairs, the holders of the common shares shall be entitled, subject to the prior rights attaching to the preference shares, to receive the remaining property of the Corporation.</FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29">&nbsp;</TD>
<TD WIDTH="219">&nbsp;</TD>
<TD WIDTH="37">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="340">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(2)</FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The rights, privileges, restrictions and conditions attaching to the <B>Class A preference shares </B>are as follows:</FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29">&nbsp;</TD>
<TD WIDTH="219">&nbsp;</TD>
<TD WIDTH="37">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="340">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(a)</FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Voting Rights</U></FONT></TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD WIDTH="29">&nbsp;</TD>
<TD WIDTH="219">&nbsp;</TD>
<TD WIDTH="37">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="340">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33">&nbsp;</TD>
<TD WIDTH="32">&nbsp;</TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Except as required under the <I>Business Corporations Act </I>(Ontario), the holders of Class A preference shares shall not have any voting rights for any purpose; the holders of
Class A preference shares shall, however, be entitled to notice of meetings of shareholders called for the purpose of authorizing the dissolution of the Corporation or the sale, lease, or exchange of its undertaking or a substantial part thereof,
except a sale, lease or exchange in the ordinary course of business of the Corporation.</FONT></TD>
</TR>
</TABLE>
<P></P>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="690">
<TR VALIGN="top">
</TR>
<TR VALIGN="top">
</TR>
<TR VALIGN="top">
</TR>
<TR VALIGN="top">
</TR>
</TABLE>

<P></P>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="690">
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="39"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(b)</FONT></TD>
<TD COLSPAN="2" WIDTH="585"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> <U>Dividends</U></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="39">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="585">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The holders of Class A preference shares shall be entitled to receive and the Corporation shall pay thereon, as and when declared by the board of directors of the Corporation out of
moneys properly applicable to the payment of dividends, non-cumulative cash dividends at a rate to be fixed by resolution of the board of directors provided that such rate shall not exceed 11% of the Redemption Amount (as hereinafter defined)
attributable to the Class A preference shares, on such date or dates as the directors shall by resolution determine from time to time. The holders of Class A preference shares shall not be entitled to any dividends other than or in excess of the
dividends hereinbefore provided for.</FONT></TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="39">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="585">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="39"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="2" WIDTH="585"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Participation in Assets on Dissolution</U></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="39">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="585">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the event of the liquidation, dissolution or winding-up of the Corporation or other distribution of assets or property of the Corporation among the shareholders for the purpose
of winding-up its affairs, whether voluntary or involuntary, the holders of Class A preference shares shall be entitled to receive out of the assets and property of the corporation before any repayment of capital or any distribution of any part of
the assets of the Corporation amongst the holders of the common shares or any other shares ranking junior to the Class A preference shares, an amount equal to the Redemption Amount as hereinafter defined. The &quot;Redemption Amount&quot; of the
Class A preference shares shall be equal to the redemption amount of the 909701 Class A Preference shares (the &quot;909701 Class A Shares&quot;) converted into the Class A preference shares. The holders of Class A preference shares shall rank
<I>pari passu </I>with the Class B preference shares and the Class C preference shares and shall be entitled to participate rateably with the holders of Class B preference shares and the Class C preference shares in any distribution of the assets
and property of the Corporation.</FONT></TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="39">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="585">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="39"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(d)</FONT></TD>
<TD COLSPAN="2" WIDTH="585"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><U>Retraction</U></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="39">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="585">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="33"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The holders of Class A preference shares shall be entitled to require the Corporation to redeem at any time the Class A preference shares registered in the name of such holders on
the books of the Corporation by tendering to the Corporation at its head office the share certificate representing the Class A preference shares which the registered holder desires to have the Corporation redeem together with a request in writing
specifying (i) that the registered holder desires to have the Class A preference shares redeemed by the Corporation and (ii) the business day (in this paragraph referred to as the &quot;Redemption Date&quot;) on which the</FONT></TD>
</TR>
</TABLE>

<P></P>
<UL> <UL> </UL>
</UL>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="690">
<TR>
<TD WIDTH="31"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">holder desires to have the Corporation redeem such Class A preference shares which shall not be less than thirty (30) days following the day on which the request in writing is given
to the Corporation. Upon receipt of the share certificate representing the Class A preference shares which the registered holder desires to have the Corporation redeem, together with such a request, the Corporation shall on the Redemption Date,
redeem the Class A preference shares by paying to such registered holder an amount equal to the Redemption Amount of the Class A preference shares being redeemed plus all unpaid dividends which have been declared thereon (the aggregate thereof which
is referred to as the &quot;Redemption Price&quot;). The Class A preference shares shall be redeemed on the Redemption Date and from and after the Redemption Date such share shall cease to be entitled to dividends and the holder thereof shall not be
entitled to exercise any of the rights of the holders of Class A preference shares in respect thereof unless payment for the Redemption Price is not made on the Redemption Date, in which event the rights of the holder of the said shares shall remain
unaffected.</FONT></TD>
</TR>
<TR>
<TD WIDTH="31"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="34">&nbsp;</TD>
<TD WIDTH="585">&nbsp;</TD>
<TD WIDTH="8"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="31"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="34"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(e)</FONT></TD>
<TD WIDTH="585"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Redemption</U></FONT></TD>
<TD WIDTH="8"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="31"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="34">&nbsp;</TD>
<TD WIDTH="585">&nbsp;</TD>
<TD WIDTH="8" HEIGHT="18"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="31"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Corporation may, upon giving notice as hereinafter provided, redeem at any time the then outstanding Class A preference shares on payment of the Redemption Price, as
hereinbefore defined.</FONT></TD>
</TR>
<TR>
<TD WIDTH="31"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="34">&nbsp;</TD>
<TD WIDTH="585">&nbsp;</TD>
<TD WIDTH="8"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="31"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="34"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(f)</FONT></TD>
<TD WIDTH="585"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><U>Method of Redemption</U></FONT></TD>
<TD WIDTH="8"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="31"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="34">&nbsp;</TD>
<TD WIDTH="585">&nbsp;</TD>
<TD WIDTH="8"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="31"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="32"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the case of redemption of Class A preference shares under the provisions of sub-paragraph (e) above, the Corporation shall, at least twenty (20) days before the date specified
for redemption, mail to the person who at the date of mailing is the registered holder of the Class A preference shares to be redeemed a notice in writing of the intention of the Corporation to redeem such Class A preference shares. Such notice
shall be mailed by letter, postage prepaid, addressed to such shareholder's address as it appears in the records of the Corporation or in the event of the address of any such shareholder not so appearing then to the last known address of such
shareholder; provided, however, that accidental failure to give any such notice to the shareholder shall not affect the validity of such redemption. Such notice shall set out the Redemption Price and the date on which redemption is to take place. On
or after the date so specified for redemption, the Corporation shall pay or cause to be paid to or to the order of the registered holder of the Class A</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="690">
<TR>
<TD WIDTH="29"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="28"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">preference shares to be redeemed the Redemption Price thereof on presentation and surrender at the registered office of the Corporation or any other place designated in such notice
of the certificate representing the Class A preference shares called for redemption. From and after the date specified for redemption in any such notice the Class A preference shares called for redemption shall cease to be entitled to dividends and
the holder thereof shall not be entitled to exercise any of the rights of the shareholder in respect thereof unless payment of the Redemption Price shall not be made upon presentation of the certificate in accordance with the foregoing provisions,
in which case the rights of the shareholder shall remain unaffected. The Corporation shall have the right at any time after the mailing of notice of its intention to redeem the Class A preference shares to deposit the Redemption Price of the share
so called for redemption or of such of the said share represented by the certificate as has not at the date of such deposit been surrendered by the holder thereof in connection with such redemption to a special account in any chartered bank or any
trust company in Canada named in such notice, to be paid without interest to or to the order of the respective holder of such Class A preference shares called for redemption upon presentation and surrender to such bank or trust company of the
certificate representing the same. Upon such deposit being made or upon the date specified for redemption in such notice, whichever is the later, the Class A preference shares in respect whereof such deposit shall have been made shall be redeemed
and the rights of the holder thereof after such deposit or such redemption date, as the case may be, shall be limited to receiving without interest their proportionate part of the total Redemption Price so deposited against presentation and
surrender of the said certificate held by them respectively.</FONT></TD>
</TR>
<TR>
<TD WIDTH="29"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="28"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="31">&nbsp;</TD>
<TD WIDTH="595">&nbsp;</TD>
<TD WIDTH="7"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="29"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="28"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="31"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(g)</FONT></TD>
<TD WIDTH="595"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Price Adjustment</U></FONT></TD>
<TD WIDTH="7"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="29"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="28"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="31">&nbsp;</TD>
<TD WIDTH="595">&nbsp;</TD>
<TD WIDTH="7"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
</TR>
<TR>
<TD WIDTH="29"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD WIDTH="28"><FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The provisions of subparagraph (a) through (f) inclusive hereof in respect of the Redemption Amount of the Class A preference shares shall be subject to the provisions of this
sub-paragraph. In the event that the Department of National Revenue, Taxation (the &quot;Department&quot;) determines that the fair market value of the 909701 Class A Shares is greater or less than the redemption amount of the 909701 Class A Shares,
the Redemption Amount of the Class A preference shares shall be increased or decreased to reflect the fair market value of the 909701 Class A Shares as ultimately determined. The Redemption Amount of the Class A preference shares so adjusted shall
be deemed retroactively to the date of the first issuance to have been its Redemption Amount. In the</FONT></TD>
</TR>
<TR><TD> </TD></TR>
</TABLE>
<P><FONT SIZE="2"> </FONT> </P>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">event that the Class A preference shares has been redeemed prior to the date of the ultimate determination, cash settlements will be made by the holder of the Class A preference
shares or the Corporation as the case may be. Reference to value as ultimately determined herein shall have the following meaning:</FONT></TD>
</TR>

<P></P>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(i)</FONT></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="0%" VALIGN="baseline"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">such amount as may be agreed by the Department, the Corporation and the holder of the Class A preference shares, to have been the fair market value of the 909701 Class A Shares;
or</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%" VALIGN="baseline"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(ii)</FONT></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="0%" VALIGN="baseline"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">in the absence of such agreement, such amount as shall be determined by a Court having jurisdiction in the matter (after all appeal rights have been exhausted or all times for
appeal).</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(h)</FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Restriction on Dividends</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">No dividends will in the future be declared on the other shares of the Corporation in such large amounts as would result in the Corporation having insufficient net assets to enable
it to redeem, at the Redemption Amount, the Class A preference shares of the Corporation which is outstanding from time to time; and further, the Corporation will not, if it should otherwise be so authorized at any time, either redeem or purchase
for cancellation the Class A preference shares of the Corporation for an amount less than the lesser of the Redemption Amount of the Class A preference shares being so redeemed or purchased and the fair market value of the Corporation valued on a
going concern basis at the time of purchase.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The rights, privileges, restrictions and conditions attaching to the <B>Class B preference shares </B>are as follows:</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Voting Rights</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Except as required under the <I>Business Corporations Act </I>(Ontario), the holders of Class B preference shares shall not have any voting rights for any purpose; the holders of
Class B preference shares shall, however, be entitled to notice of meetings of shareholders called for the purpose of authorizing the dissolution of the Corporation or the sale, lease, or</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">exchange of its undertaking or a substantial part thereof, except a sale, lease or<B> </B>exchange in the ordinary course of business of the Corporation.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="4" WIDTH="93%">&nbsp;</TD>
</TR>

<P></P>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="4" WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Dividends</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD COLSPAN="2">&nbsp;</TD>
<TD COLSPAN="4" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The holders of Class B preference shares shall be entitled to receive and the Corporation shall pay thereon, as and when declared by the board of directors of the Corporation out of
moneys properly applicable to the payment of dividends, non-cumulative cash dividends at a rate to be fixed by resolution of the board<B> </B>of directors provided that such rate shall not exceed 11% of the Redemption Amount (as hereinafter defined)
attributable to the Class B preference shares, on such date or dates as the directors shall by resolution determine from time to time. The holders of Class B preference shares shall not be entitled to any dividends other than or in excess of the
dividends hereinbefore provided for.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="4" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="4" WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Participation in Assets on Dissolution</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="4" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the event of the liquidation, dissolution or winding-up of the Corporation or other distribution of assets or property of the Corporation among the shareholders for the purpose
of winding-up its affairs, whether voluntary or involuntary, the holders of Class B preference shares shall be entitled to receive out of the assets and property of the corporation before any repayment of capital or any distribution of any part of
the assets of the Corporation amongst the holders of the common shares or any other shares ranking junior to the Class B preference shares, an amount equal to the Redemption Amount as hereinafter defined. The &quot;Redemption Amount&quot; of the
Class B preference shares shall be equal to the fair market value of the common shares of Synerlogic Inc. (the &quot;Synerlogic Common Shares&quot;) converted into the Class B preference shares. The holders of Class B preference shares shall rank
<I>pari passu</I> with the Class A preference shares and the Class C preference shares and shall be entitled to participate rateably with the holders of Class A preference shares and the Class C preference shares in any distribution of the assets
and property of the Corporation.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="4" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(d)</FONT></TD>
<TD COLSPAN="4" WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Retraction</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="4" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The holders of Class B preference shares shall be entitled to require the Corporation to redeem at any time the Class B preference shares registered in the name of such holders on
the books of the Corporation</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> by tendering to the Corporation at its head office the share certificate representing the Class B preference shares which the registered holder desires to have the Corporation
redeem together with a request in writing specifying (i) that the registered holder desires to have the Class B preference shares redeemed by the Corporation and (ii) the business day (in this paragraph referred to as the &quot;Redemption
Date&quot;) on which the holder desires to have the Corporation redeem such Class B preference shares which shall not be less than thirty (30) days following the day on which the request in writing is given to the Corporation. Upon receipt of the
share certificate representing the Class B preference shares which the registered holder desires to have the Corporation redeem, together with such a request, the Corporation shall on the Redemption Date, redeem the Class B preference shares by
paying to such registered holder an amount equal to the Redemption Amount of the Class B preference shares being redeemed plus all unpaid dividends which have been declared thereon (the aggregate thereof which is referred to as the &quot;Redemption
Price&quot;). The Class B preference shares shall be redeemed on the Redemption Date and from and after the Redemption Date such share shall cease to be entitled to dividends and the holder thereof shall not be entitled to exercise any of the rights
of the holders of Class B preference shares in respect thereof unless payment for the Redemption Price is not made on the Redemption Date, in which event the rights of the holder of the said shares shall remain unaffected.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="4" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(e)</FONT></TD>
<TD COLSPAN="4" WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Redemption</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%" HEIGHT="18"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%" HEIGHT="18">&nbsp;</TD>
<TD COLSPAN="4" WIDTH="93%" HEIGHT="18">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Corporation may, upon giving notice as hereinafter provided, redeem at any time the then outstanding Class B preference shares on payment of the Redemption Price, as
hereinbefore defined.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="4" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(f)</FONT></TD>
<TD COLSPAN="4" WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Method of Redemption</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="4" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the case of redemption of Class B preference shares under the provisions of sub-paragraph (e) above, the Corporation shall, at least twenty (20) days before the date specified
for redemption, mail to the person who at the date of mailing is the registered holder of the Class B preference shares to be redeemed a notice in writing of the intention of the Corporation to redeem such Class B preference shares. Such notice
</FONT></TD>
</TR>
</TABLE>

<P></P>
<UL> <UL> </UL>
</UL>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="4" WIDTH="97%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">shall be mailed by letter, postage prepaid, addressed to such shareholder's address as it appears in the records of the Corporation or in the event of the address of any
such shareholder not so appearing then to the last known address of such shareholder; provided, however, that accidental failure to give any such notice to the shareholder shall not affect the validity of such redemption. Such notice shall set out
the Redemption Price and the date on which redemption is to take place. On or after the date so specified for redemption, the Corporation shall pay or cause to be paid to or to the order of the registered holder of the Class B preference shares to
be redeemed the Redemption Price thereof on presentation and surrender at the registered office of the Corporation or any other place designated in such notice of the certificate representing the Class B preference shares called for redemption. From
and after the date specified for redemption in any such notice the Class B preference shares called for redemption shall cease to be entitled to dividends and the holder thereof shall not be entitled to exercise any of the rights of the shareholder
in respect thereof unless payment of the Redemption Price shall not be made upon presentation of the certificate in accordance with the foregoing provisions, in which case the rights of the shareholder shall remain unaffected. The Corporation shall
have the right at any time after the mailing of notice of its intention to redeem the Class B preference shares to deposit the Redemption Price of the share so called for redemption or of such of the said share represented by the certificate as has
not at the date of such deposit been surrendered by the holder thereof in connection with such redemption to a special account in any chartered bank or any trust company in Canada named in such notice, to be paid without interest to or to the order
of the respective holder of such Class B preference shares called for redemption upon presentation and surrender to such bank or trust company of the certificate representing the same. Upon such deposit being made or upon the date specified for
redemption in such notice, whichever is the later, the Class B preference shares in respect whereof such deposit shall have been made shall be redeemed and the rights of the holder thereof after such deposit or such redemption date, as the case may
be, shall be limited to receiving without interest their proportionate part of the total Redemption Price so deposited against presentation and surrender of the said certificate held by them respectively.</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom">
<TD WIDTH="3%" HEIGHT="18"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%" HEIGHT="18"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(g)</FONT></TD>
<TD COLSPAN="4" HEIGHT="18"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Price Adjustment</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The provisions of sub-paragraph (a) through (f) inclusive hereof in respect of the Redemption Amount of the Class B preference shares shall be subject to the provisions of this
sub-paragraph. In the event that the Department of National Revenue, Taxation (the &quot;Department&quot;) determines that the fair market value of the Synerlogic Common Shares is greater or less than the Redemption Amount, the Redemption Amount of
the Class B preference shares shall be increased or decreased to reflect the fair market value of the Synerlogic Common Shares as ultimately determined. The Redemption Amount of the Class B preference shares so adjusted shall be deemed retroactively
to the date of the first issuance to have been its Redemption Amount. In the event that the Class B preference shares has been redeemed prior to the date of the ultimate determination, cash settlements will be made by the holder of the Class B
preference shares or the Corporation as the case may be. Reference to value as ultimately determined herein shall have the following meaning:</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(iii)</FONT></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">such amount as may be agreed by the Department, the Corporation and the holder of the Class B preference shares, to have been the fair market value of the Synerlogic Common Shares;
or</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(iv)</FONT></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">in the absence of such agreement, such amount as shall be determined by a Court having jurisdiction in the matter (after all appeal rights have been exhausted or all times for
appeal).</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(h)</FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Restriction on Dividends</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="0%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="89%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">No dividends will in the future be declared on the other shares of the Corporation in such large amounts as would result in the Corporation having insufficient net assets to enable
it to redeem, at the Redemption Amount, the Class B preference shares of the Corporation which is outstanding from time to time; and further, the Corporation will not, if it should otherwise be so authorized at any time, either redeem or purchase
for cancellation the Class B preference shares of the Corporation for an amount less than the lesser of the Redemption Amount of the Class B preference shares being so redeemed or purchased and the fair marked value of the Corporation valued on a
going concern basis at the time of purchase.</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">4.</FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The rights, privileges, restrictions and conditions attaching to the <B>Class C preference shares </B>shall be as follows:</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3" WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Voting Rights</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Except as required under the <I>Business Corporations Act </I>(Ontario), the holders of Class C preference shares shall not have any voting rights for any purpose; the holders of
Class C preference shares shall, however, be entitled to notice of meetings of shareholders called for the purpose of authorizing the dissolution of the Corporation or the sale, lease, or exchange of its undertaking or a substantial part thereof,
except a sale, lease or exchange in the ordinary course of business of the Corporation.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(b)</FONT></TD>
<TD COLSPAN="3" WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Dividends</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The holders of Class C preference shares shall be entitled to receive and the Corporation shall pay thereon, as and when declared by the board of directors of the Corporation out of
moneys properly applicable to the payment of dividends, non-cumulative cash dividends at a rate to be fixed by resolution of the board of directors provided that such rate shall not exceed 11% of the Redemption Amount (as hereinafter defined)
attributable to the Class C preference shares, on such date or dates as the directors shall by resolution determine from time to time. The holders of Class C preference shares shall not be entitled to any dividends other than or in excess of the
dividends hereinbefore provided for.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="3" WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Participation in Assets on Dissolution</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the event of the liquidation, dissolution or winding-up of the Corporation or other distribution of assets or property of the Corporation among the shareholders for the purpose
of winding-up its affairs, whether voluntary or involuntary, the holders of Class C preference shares shall be entitled to receive out of the assets and property of the corporation<I> </I>before any repayment of capital or any distribution of any
part of the assets of the Corporation amongst the holders of the common shares or any other shares ranking junior to the Class C preference shares, an amount equal to the Redemption Amount as hereinafter defined. The &quot;Redemption Amount&quot; of
the Class C preference shares shall be equal to the redemption amount of the First Preferred shares and the Second Preferred shares of Synerlogic Inc. (the &quot;Synerlogic Preferred Shares&quot;)</FONT> </TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">converted into the Class C preference shares. The holders of Class C preference shares shall rank pari passu with the Class A preference shares and the Class B preference shares and
shall be entitled to participate rateably with the holders of Class A preference shares and the Class B preference shares in any distribution of the assets and property of the Corporation.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2">(d)</FONT></TD>
<TD COLSPAN="3" WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Retraction</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The holders of Class C preference shares shall be entitled to require the Corporation to redeem at any time the Class C preference shares registered in the name of such holders on
the books of the Corporation by tendering to the Corporation at its head office the share certificate representing the Class C preference shares which the registered holder desires to have the Corporation redeem together with a request in writing
specifying (i) that the registered holder desires to have the Class C preference shares redeemed by the Corporation and (ii) the business day (in this paragraph referred to as the &quot;Redemption Date&quot;) on which the holder desires to have the
Corporation redeem such Class C preference shares which shall not be less than thirty (30) days following the day on which the request in writing is given to the Corporation. Upon receipt of the share certificate representing the Class C preference
shares which the registered holder desires to have the Corporation redeem, together with such a request, the Corporation shall on the Redemption Date, redeem the Class C preference shares by paying to such registered holder an amount equal to the
Redemption Amount of the Class C preference shares being redeemed plus all unpaid dividends which have been declared thereon (the aggregate thereof which is referred to as the &quot;Redemption Price&quot;). The Class C preference shares shall be
redeemed on the Redemption Date and from and after the Redemption Date such share shall cease to be entitled to dividends and the holder thereof shall not be entitled to exercise any of the rights of the holders of Class C preference shares in
respect thereof unless payment for the Redemption Price is not made on the Redemption Date, in which event the rights of the holder of the said shares shall remain unaffected.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2">(e)</FONT></TD>
<TD COLSPAN="3" WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Redemption</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="93%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Corporation may, upon giving notice as hereinafter provided, redeem at any time the then outstanding Class C preference shares on payment of the Redemption Price, as
hereinbefore defined.</FONT></TD>
</TR>
</TABLE>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT> </P>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">  </FONT></P>
<P></P>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2">(f)</FONT></TD>
<TD COLSPAN="3" WIDTH="91%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Method of Redemption</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%"><FONT SIZE="2"></FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">In the case of redemption of Class C preference shares under the provisions of sub-paragraph (e) above, the Corporation shall, at least twenty (20) days before the date specified
for redemption, mail to the person who at the date of mailing is the registered holder of the Class C preference shares to be redeemed a notice in writing of the intention of the Corporation to redeem such Class C preference shares. Such notice
shall be mailed by letter, postage prepaid, addressed to such shareholder's address as it appears in the records of the Corporation or in the event of the address of any such shareholder not so appearing then to the last known<I> </I>address of such
shareholder; provided, however, that accidental failure to give any such notice to the shareholder shall not affect the validity of such redemption. Such notice shall set out the Redemption Price and the date on which redemption is to take place. On
or after the date so specified for redemption, the Corporation shall pay or cause to be paid to or to the order of the registered holder of the Class C preference shares to be redeemed the Redemption Price thereof on presentation and surrender at
the registered office of the Corporation or any other place designated in such notice of the certificate representing the Class C preference shares called for redemption. From and after the date specified for redemption in any such notice the Class
C preference shares called for redemption shall cease to be entitled to dividends and the holder thereof shall not be entitled to exercise any of the rights of the shareholder in respect thereof unless payment of the Redemption Price shall not be
made upon presentation of the certificate in accordance with the foregoing provisions, in which case the rights of the shareholder shall remain unaffected. The Corporation shall have the right at any time after the mailing of notice of its intention
to redeem the Class C preference shares to deposit the Redemption Price of the share so called for redemption or of such of the said share represented by the certificate as has not at the date of such deposit been surrendered by the holder thereof
in connection with such redemption to a special account in any chartered bank or any trust company in Canada named in such notice, to be paid without interest to or to the order of the respective holder of such Class C preference shares called for
redemption upon presentation and surrender to such bank or trust company of the certificate representing the same. Upon such deposit being made or upon the date specified for redemption in such notice, whichever is the later, the Class C preference
shares in respect whereof such deposit shall have been made shall be redeemed and the rights of the holder thereof after such deposit or such
redemption date, as the case may be, shall be limited to receiving without interest their proportionate part of the total Redemption Price so deposited against presentation and surrender of the said certificate held by them respectively.</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD COLSPAN="5">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(g)</FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Price Adjustment</U></FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD COLSPAN="5">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The provisions of sub-paragraph (a) through (f) inclusive hereof in respect of the Redemption Amount of the Class C preference shares shall be subject to the provisions of this
sub-paragraph. In the event that the Department of National Revenue, Taxation (the &quot;Department&quot;) determines that the fair market value of the Synerlogic Preferred Shares is greater or less than the stated capital of the Synerlogic
Preferred Shares, the Redemption Amount of the Class C preference shares shall be increased or decreased to reflect the fair market value of the Synerlogic Preferred Shares as ultimately determined. The Redemption Amount of the Class C preference
shares so adjusted shall be deemed retroactively to the date of the first issuance to have been its Redemption Amount. In the event that the Class C preference shares has been redeemed prior to the date of the ultimate determination, cash
settlements will be made by the holder of the Class C preference shares or the Corporation as the case may be. Reference to value as ultimately determined herein shall have the following meaning:</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="87%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(v)</FONT></TD>
<TD COLSPAN="3" WIDTH="87%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">such amount as may be agreed by the Department, the Corporation and the holder of the Class C<B> </B>preference shares, to have been the fair market value
of the Synerlogic Preferred Shares; or</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="5%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="87%" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(iv)</FONT></TD>
<TD COLSPAN="3" WIDTH="87%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">in the absence of such agreement, such amount as shall be determined by a Court having jurisdiction in the matter (after all appeal rights have been
exhausted or all times for appeal).</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(h)</FONT></TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>Restriction on Dividends</U></FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD COLSPAN="5">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="3%" HEIGHT="39"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%" HEIGHT="39"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5" HEIGHT="39"><FONT FACE="Times New Roman, Times, serif" SIZE="2">No dividends will in the future be declared on the other shares of the Corporation in such large amounts as would result in the Corporation having insufficient net
assets to enable it to redeem, at the Redemption Amount, the Class C preference shares of the Corporation which is outstanding from time to time; and further, the Corporation will not, if it </FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="2%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">should otherwise be so authorized at any time, either redeem or purchase for cancellation the Class C preference shares of the Corporation for an amount less than the lesser of the
Redemption Amount of the Class C<B> </B>preference shares being so redeemed or purchased and the fair market value of the Corporation valued on a going concern basis at the time of purchase.</FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">9.</FONT></TD>
<TD COLSPAN="3" ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The issue, transfer or Ownership of shares is/is not
<BR>
restricted and the restrictions (if any) are as follows:</FONT></TD>
<TD WIDTH="49%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">L'&eacute;mission, le transfert ou la propri&eacute;t&eacute; d'actions est/n'est
<BR>
pas restreinte. Les restrictions, s'il y a lieu, sont les suivantes:</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="13%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD WIDTH="13%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD WIDTH="13%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">No share of the Corporation shall be transferred without the express consent of the directors of the Corporation, such consent to be expressed by the votes of a majority of the
directors of the Corporation at a meeting of the directors or by an instrument or instruments in writing signed by a majority of the directors.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="49%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="49%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="49%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">10.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Other provisions (if any):</FONT></TD>
<TD WIDTH="49%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Autres dispositions, s'il y a lieu:</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" ALIGN="left">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%" ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(1)</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The number of shareholders of the Corporation, exclusive of persons who are in its employment and exclusive of persons who, having been formerly in the
employment of the Corporation, were, while in that employment and have continued after the termination of that employment to be, shareholders of the Corporation, is limited to not more than 50, 2 or more persons who are the joint registered owners
of 1 or more shares being counted as 1 shareholder.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(2)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Any invitation to the public to subscribe for securities of the Corporation is prohibited.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="49%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="49%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="49%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="49%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="49%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">11.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The statements required by subsection 178(2) of the
<BR>
Business Corporations Act are attached as Schedule &quot;A&quot;.</FONT></TD>
<TD WIDTH="49%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Les d&eacute;clarations exig&eacute;es aux termes du paragraphe
<BR>
178(2) de la Loi sur les compagnies constituent I'annexe &quot;A&quot;.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3"><I><B></B></I></TD>
<TD WIDTH="49%"><I><B></B></I></TD>
</TR>
<TR>
<TD WIDTH="3%" ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">12.</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A copy of the amalgamation agreement or directors
<BR>
resolutions (as the case may be) is/are attached as
<BR>
Schedule &quot;B&quot;. </FONT></TD>
<TD WIDTH="49%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Une copie de la convention de fusion ou les r&eacute;solutions
<BR>
des administrateurs (selon le cas) constitute(nt) I'annexe
<BR>
&quot;B&quot;. </FONT></TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">These article are signed in duplicate.</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Les pr&#233;sents statuts sont sign&#233;s en double exemplaire.</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Names of the amalgamating corporations and
<BR>
signatures and descriptions of office of their proper
<BR>
officers </FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">D&#233;nomination sociale des compagnies qui fusionnent,
<BR>
signature et fonction de leurs dirigeants r&#233;guli&egrave;rement
<BR>
d&#233;sign&#233;s.</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">909701 ONTARIO INC.</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="46%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">BY:</FONT></TD>
<TD WIDTH="46%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert C. Manion&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="46%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ROBERT C. MANION, PRESIDENT</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">SYNERLOGIC INC.</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">BY:</FONT></TD>
<TD WIDTH="46%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert C. Manion&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="5%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="46%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ROBERT C. MANION, VICE PRESIDENT</FONT></TD>
</TR>
</TABLE>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT> </P>

<P ALIGN="center"><FONT SIZE="2"><B><FONT FACE="Times New Roman">Schedule &quot;A&quot;</FONT></B></FONT> </P>
<P ALIGN="center"><FONT SIZE="2"><B><FONT FACE="Times New Roman">909701 Ontario Inc.</FONT></B></FONT></P>
<P ALIGN="center"><FONT SIZE="2"><B><FONT FACE="Times New Roman"><U>Statement</U></FONT></B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="4"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I, Robert C. Manion, President of 909701 Ontario Inc. (the
&quot;Corporation&quot;), refer to the proposed amalgamation of the Corporation with Synerlogic Inc. (&quot;Synerlogic&quot;) and hereby state that:</FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">There are reasonable grounds for believing that:</FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Corporation is able to pay its liabilities as they become due;</FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(b)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">the corporation continuing from the amalgamation of the Corporation and Synerlogic (the &quot;Amalgamated Corporation&quot;) will be able to pay its liabilities as they become due;</FONT><FONT
SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(c)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">the realizable value of the Amalgamated Corporation's assets immediately after the issuance of the certificate of amalgamation giving effect to the said amalgamation will not be less than the
aggregate of its liabilities and' stated capital of all classes; and</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(d)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">no creditor of the Corporation will be prejudiced by the said amalgamation.</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">2.</FONT></TD>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT><FONT FACE="Times New Roman" SIZE="2">No creditor has notified the Corporation that such creditor objects to the proposed amalgamation.</FONT><FONT SIZE="2"
FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT><FONT FACE="Times New Roman" SIZE="2">DATED October 26, 1994.</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="37%">&nbsp;</TD>
<TD WIDTH="55%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="37%">&nbsp;</TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>Robert C. Manion&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="37%">&nbsp;</TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman" SIZE="2">Robert C. Manion, President</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
</TABLE>
<FONT SIZE="2"><B><FONT FACE="Times New Roman"></FONT></B></FONT>
<P ALIGN="center"><FONT SIZE="2"><B><FONT FACE="Times New Roman">Schedule &quot;A&quot;</FONT></B></FONT> </P>
<P ALIGN="center"><FONT SIZE="2"><B><FONT FACE="Times New Roman">Synerlogic Inc.</FONT></B></FONT></P>
<P ALIGN="center"><FONT SIZE="2"><B><FONT FACE="Times New Roman"><U>Statement</U></FONT></B></FONT></P>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT FACE="Times New Roman" SIZE="2">I, Robert C.
Manion, Vice-President of Synerlogic Inc. (the &quot;Corporation&quot;), refer to the proposed amalgamation of the Corporation with 909701 Ontario Inc. (&quot;909701&quot;) and hereby state that:</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">There are reasonable grounds for believing that:</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Corporation is able to pay its liabilities as they become due;</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(b)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">the corporation continuing from the amalgamation of the Corporation and </FONT><FONT FACE="Times New Roman" SIZE="2">909701 (the &quot;Amalgamated Corporation&quot;) will be able to pay its
liabilities as they become due;</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(c)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">the realizable value of the Amalgamated Corporation's assets immediately after the issuance of the certificate of amalgamation giving effect to the said amalgamation will not be less than the
aggregate of its liabilities and stated capital of all classes; and</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(d)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">no creditor of the Corporation will be prejudiced by the said amalgamation.</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">2.</FONT></TD>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT><FONT FACE="Times New Roman" SIZE="2">No creditor has notified the Corporation that such creditor objects to the proposed amalgamation.</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT><FONT FACE="Times New Roman" SIZE="2">DATED October 26, 1994.</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="36%">&nbsp;</TD>
<TD WIDTH="55%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="36%">&nbsp;</TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman" SIZE="2"><U>Robert C. Manion&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="36%">&nbsp;</TD>
<TD WIDTH="55%">
<P><FONT FACE="Times New Roman" SIZE="2">Robert C. Manion, Vice-President</FONT></P>
</TD>
</TR>
</TABLE>

<P ALIGN="center"><FONT SIZE="2"><B><FONT FACE="Times New Roman">Schedule &quot;B&quot;</FONT></B></FONT> </P>
<P ALIGN="center"><FONT SIZE="2"><B><FONT FACE="Times New Roman"><U>AMALGAMATION AGREEMENT</U></FONT></B></FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS AGREEMENT is made as of November 1, 1994</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">BETWEEN:</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="66%">&nbsp;</TD>
<TD WIDTH="18%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="66%"> <FONT FACE="Times New Roman" SIZE="2">909701 Ontario Inc., a corporation incorporated under the laws of the Province of Ontario (&quot;909701&quot;)</FONT></TD>
<TD WIDTH="18%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="66%"> <DIV ALIGN="center"></DIV>
</TD>
<TD WIDTH="18%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="66%"> <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">-and-</FONT></DIV>
</TD>
<TD WIDTH="18%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="66%"> <DIV ALIGN="center"></DIV>
</TD>
<TD WIDTH="18%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="66%"> <FONT FACE="Times New Roman" SIZE="2">Synerlogic Inc., a corporation incorporated under the laws of Canada and continued under the laws of the Province of Ontario (&quot;Synerlogic&quot;).</FONT></TD>
<TD WIDTH="18%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS 909701 was incorporated under the laws of the Province of Ontario by articles of
incorporation effective August 29, 1990 and 1 Class A Preference Share and 100 common shares of 909701 are issued and outstanding as fully paid and non-assessable;</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS Synerlogic was incorporated under the laws of Canada and continued under the laws of the
Province of Ontario by articles of continuance effective December 30, 1988 and 4,856,694 common shares and 20,000 first preferred shares and 103,000 second preferred shares of Synerlogic are issued and outstanding as fully paid and non-assessable;
and</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS the parties hereto propose to amalgamate and continue as one corporation;</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the covenants and agreements herein
contained the parties hereto agree as follows:</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909701 and Synerlogic shall amalgamate, pursuant to the provisions of the </FONT><FONT SIZE="2"><I><FONT
FACE="Times New Roman">Business Corporations Act</FONT></I><FONT FACE="Times New Roman"> (Ontario), and continue as one corporation (hereinafter referred to as the &quot;Amalgamated Corporation&quot;) upon and subject to the terms and conditions and
in the manner hereinafter set out.</FONT></FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE="2"><FONT FACE="Times New Roman">The name of the Amalgamated Corporation shall be an Ontario numbered
company as issued by the Ministry of Consumer and Commercial Relations.</FONT></FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE="2"><FONT FACE="Times New Roman">The registered office of the Amalgamated Corporation shall be located
in the City of Etobicoke in the Municipality of Metropolitan Toronto in the Province of</FONT></FONT> </TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6"><FONT FACE="Times New Roman" SIZE="2">Ontario and the address of the Amalgamated Corporation shall be 185 The West Mall, Suite 500, Etobicoke, Ontario, M9C 5L5.</FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6"><FONT FACE="Times New Roman" SIZE="2">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT FACE="Times New Roman" SIZE="2">The number of directors of the Amalgamated Corporation shall be a minimum of
one (1) and a maximum of ten (10) and the following persons shall be the first directors:</FONT><FONT SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD HEIGHT="20" COLSPAN="4">&nbsp;</TD>
<TD HEIGHT="20" WIDTH="31%">&nbsp;</TD>
<TD HEIGHT="20" WIDTH="36%">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD HEIGHT="20" COLSPAN="4"><U><FONT FACE="Times New Roman" SIZE="2">Name</FONT></U><U></U><U></U><U></U></TD>
<TD HEIGHT="20" WIDTH="31%"><U><FONT FACE="Times New Roman" SIZE="2">Residence Address</FONT></U></TD>
<TD HEIGHT="20" WIDTH="36%" ALIGN="center"><U><FONT FACE="Times New Roman" SIZE="2">Resident Canadian</FONT></U></TD>
</TR>
<TR VALIGN="top" ALIGN="left">
<TD COLSPAN="4">&nbsp;</TD>
<TD WIDTH="31%">&nbsp;</TD>
<TD WIDTH="36%">&nbsp;</TD>
</TR>
<TR VALIGN="top" ALIGN="left">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">Robert C. Manion</FONT></TD>
<TD WIDTH="31%"><FONT FACE="Times New Roman" SIZE="2">1200 Botany Hill</FONT>
<BR>
<FONT FACE="Times New Roman" SIZE="2">Oakville, Ontario
<BR>
L6J 6J5</FONT> </TD>
<TD WIDTH="36%" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Yes</FONT></TD>
</TR>
<TR VALIGN="top" ALIGN="left">
<TD COLSPAN="4">&nbsp;</TD>
<TD WIDTH="31%">&nbsp;</TD>
<TD WIDTH="36%" ALIGN="center">&nbsp;</TD>
</TR>
<TR VALIGN="top" ALIGN="left">
<TD COLSPAN="4">
<P><FONT FACE="Times New Roman" SIZE="2">David E. Seibel</FONT></P>
</TD>
<TD WIDTH="31%"><FONT FACE="Times New Roman" SIZE="2">14 Cedar Road
<BR>
Gloucester, Ontario
<BR>
KlJ 6L4 </FONT></TD>
<TD WIDTH="36%" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Yes</FONT></TD>
</TR>
<TR VALIGN="top" ALIGN="left">
<TD COLSPAN="4">&nbsp;</TD>
<TD WIDTH="31%">&nbsp;</TD>
<TD WIDTH="36%" ALIGN="center">&nbsp;</TD>
</TR>
<TR VALIGN="top" ALIGN="left">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">Richard Von Hagen</FONT></TD>
<TD WIDTH="31%"><FONT FACE="Times New Roman" SIZE="2">1505 Caulder Drive
<BR>
Oakville, Ontario
<BR>
L6J 5Tl</FONT></TD>
<TD WIDTH="36%" ALIGN="center">
<P><FONT FACE="Times New Roman" SIZE="2"> Yes</FONT></P>
</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6"><FONT FACE="Times New Roman" SIZE="2">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT FACE="Times New Roman" SIZE="2">There shall be no restrictions on the business the Amalgamated </FONT><FONT
FACE="Times New Roman" SIZE="2">Corporation may carry on or on the powers the Amalgamated Corporation may exercise.</FONT><FONT SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6"><FONT FACE="Times New Roman" SIZE="2">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT FACE="Times New Roman" SIZE="2">The Amalgamated Corporation shall be authorized to issue:</FONT><FONT
SIZE="2"></FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">an unlimited number of common shares;</FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%">
<P><FONT FACE="Times New Roman" SIZE="2">(2)</FONT></P>
</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">an unlimited number of Class A preference shares;</FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(3)</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">an unlimited number of Class B preference shares; and</FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(4)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">an unlimited number of Class C preference shares.</FONT></P>
</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6"><FONT FACE="Times New Roman" SIZE="2">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT FACE="Times New Roman" SIZE="2">The rights, privileges, restrictions and conditions attaching to the common
shares, the Class A preference shares, the Class B preference shares and the Class C preference shares of the Amalgamated Corporation are set forth in Appendix I to this Agreement.</FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="6"><FONT FACE="Times New Roman" SIZE="2">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT FACE="Times New Roman" SIZE="2">The right to transfer shares in the capital of the Amalgamated Corporation
shall be restricted in that no share of the Amalgamated Corporation shall be transferred without the express consent of the directors of the Amalgamated Corporation expressed by the votes of a majority of the directors of the Amalgamated Corporation
at a meeting</FONT> </TD>
</TR>
</TABLE>
<FONT FACE="Times New Roman" SIZE="2"></FONT>
<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">of the directors or by an instrument or instruments in writing signed by a majority of the directors.</FONT></TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="bottom" ALIGN="left">
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The issued and outstanding shares in the capital of each of the parties hereto, except the shares, if
any, cancelled pursuant to Section 9 hereof, shall, upon articles of amalgamation in respect of the amalgamation becoming effective, be converted into issued and outstanding and fully paid and non-assessable shares in the capital of the Amalgamated
Corporation on the following basis:</FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="4%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="4%">
<P><FONT FACE="Times New Roman" SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>
</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="91%"><FONT FACE="Times New Roman" SIZE="2">each common share in the capital of 909701 shall become a common share in the capital of the Amalgamated Corporation;</FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="4%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="4%">
<P><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></P>
</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="91%"><FONT FACE="Times New Roman" SIZE="2">the one (1) single Class A Preference share in the capital of 909701 shall become one (1) single Class A preferred share in the capital of the Amalgamated
Corporation;</FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="4%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="4%">
<P><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></P>
</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="91%"><FONT FACE="Times New Roman" SIZE="2">the 4,856,694 common shares in the capital of Synerlogic shall become one (1) Class B preferred share in the capital of the Amalgamated Corporation by conversion of one
common share to .000000205 of a Class B preferred share; and</FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="4%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="4%">
<P><FONT FACE="Times New Roman" SIZE="2">(d)</FONT></P>
</TD>
<TD VALIGN="top" ALIGN="left" WIDTH="91%"><FONT FACE="Times New Roman" SIZE="2">the 123,000 first and second preferred shares in the capital of Synerlogic shall become one (1) Class C preference share in the capital of the Amalgamated Corporation by
conversion of one first or second preferred share to .00000813 of a Class C preference share.</FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="left" COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">After articles of amalgamation in respect of the amalgamation become effective, the holders of shares of 909701 and Synerlogic shall be entitled to receive certificates representing shares of the
Amalgamated Corporation on the bases aforesaid on presentation and surrender of the certificates representing shares held by them at the registered office of the Amalgamated Corporation and shall, if requested by the Amalgamated Corporation,
surrender the certificates representing shares of 909701 or Synerlogic for cancellation.</FONT></TD>
</TR>
<TR>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders of shares of either of the parties hereto shall not be entitled to be registered on the books
of the Amalgamated Corporation in respect of a fraction of one of the issued shares of the Amalgamated Corporation resulting from the conversion described above or to receive any consideration in respect thereof.</FONT></TD>
</TR>
<TR>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The by-laws of 909701, shall, <I>mutatis mutandis</I>, be the by-laws of the Amalgamated Corporation,
such by-laws after the amalgamation becoming effective to be supplemented, amended or repealed in accordance with the provisions of the <I>Business Corporations Act</I> (Ontario) relating to the making, amending and repealing of by-laws.</FONT>
<P></P>
</TD>
</TR>
</TABLE>
<FONT FACE="Times New Roman" SIZE="2"></FONT>
<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD COLSPAN="4">
<P><FONT FACE="Times New Roman" SIZE="2">A copy of such by-laws may be examined at 185 The West Mall, Suite 500, Etobicoke, Ontario, M9C 5L5.</FONT></P>
</TD>
</TR>
<TR>
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="4">
<P><FONT FACE="Times New Roman" SIZE="2">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The number of shareholders of the Amalgamated Corporation, exclusive of persons who are in its employment and exclusive of persons who, having been formerly in the
employment of the Amalgamated Corporation, were, while in that employment and have continued after the termination of that employment to be, shareholders of the Amalgamated Corporation, is limited to not more tha</FONT><FONT FACE="Times New Roman"
SIZE="2">n 50, two or more persons who arc the joint registered owners of one or more shares being counted as one shareholder.</FONT></P>
</TD>
</TR>
<TR>
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any invitation to the public to subscribe for securities of the Amalgamated Corporation is prohibited.</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the parties hereto may, by resolution of their respective directors, assent to any amendment or variation of this Agreement which the shareholders
of the parties hereto may approve and the term &quot;Agreement&quot; as used herein shall include this Agreement as so amended or varied.</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the approval of this Agreement by the shareholders of either party hereto, the directors of such party may by resolution terminate this
Agreement at any time prior to the endorsement of a certificate of amalgamation upon articles of amalgamation in respect hereof.</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF the parties have executed this Agreement as of the 26<SUP>th</SUP>
day of October, 1994.</FONT></TD>
</TR>
<TR>
<TD WIDTH="45%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="45%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif">909701 Ontario Inc.</FONT></TD>
</TR>
<TR>
<TD WIDTH="45%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="45%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Per:&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" WIDTH="52%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert C. Manion&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
<TR>
<TD WIDTH="45%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="52%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="45%">&nbsp;</TD>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Synerlogic Inc.</FONT></TD>
</TR>
<TR>
<TD WIDTH="45%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="52%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="45%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Per:</FONT></TD>
<TD COLSPAN="2" WIDTH="52%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert C. Manion&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
<TR>
<TD WIDTH="45%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="52%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="45%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="3%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Per:</FONT></TD>
<TD COLSPAN="2" WIDTH="52%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;[SIGNATURE ILLEGIBLE] &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
</TABLE>
<P><FONT SIZE="2"> </FONT> </P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT> </P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="48%">For Ministry Use Only
<BR>
A l'usage exclusif du&nbsp;minist&eacute;re</TD>
<TD WIDTH="19%"> <DIV ALIGN="right"></DIV>
</TD>
<TD WIDTH="33%"> <DIV ALIGN="center">Ontario Corporation Number
<BR>
Num&eacute;ro de la societ&eacute; en Ontario
<BR>
1102773 </DIV>
</TD>
</TR>
</TABLE>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">STAMP
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MAY &nbsp;23 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MAI,&nbsp; 2001</FONT></P>
<P ALIGN=CENTER></P>
<TABLE BORDER=0 CELLPADDING="0" CELLSPACING="0" WIDTH="700">
<TR>
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<TR>
<TD VALIGN="TOP" ALIGN="center" COLSPAN="33"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2"> ARTICLES OF AMENDMENT
<BR>
<I>STATUTS DE MODIFICATION</I></FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP" ALIGN="center">&nbsp;</TD>
<TD VALIGN="TOP" ALIGN="center">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="16">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="15">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Form 3
<BR>
Business
<BR>
Corporations
<BR>
Act</FONT></TD>
<TD VALIGN="TOP" ALIGN="center">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="16"><FONT FACE="Times New Roman, Times, serif" SIZE="2">1. &nbsp;&nbsp;&nbsp;The name of the corporation is:</FONT></TD>
<TD VALIGN="bottom" COLSPAN="15"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>D&eacute;nomination sociale de la soci&eacute;t&eacute;:</I></FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">1</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">1</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">0</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">2</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">7</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">7</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">3</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, serif"></FONT></FONT></FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">O</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">N </FONT></TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">T</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">A</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">R</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">I</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">O</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, serif"></FONT></FONT></FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">I&#160;</FONT></TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">N</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">C</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">.</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, serif"></FONT></FONT></FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, serif"></FONT></FONT></FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, serif"></FONT></FONT></FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, serif"></FONT></FONT></FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, serif"></FONT></FONT></FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT></TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, serif"></FONT></FONT></FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, serif"></FONT></FONT></FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, serif"></FONT></FONT></FONT></P>
</TD>
<TD VALIGN="TOP">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">.</FONT></P>
</TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP">
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>Formule 3
<BR>
Loi sur les
<BR>
soci&eacute;t&eacute;s par
<BR>
actions</I></FONT></P>
</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
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<TD VALIGN="TOP">&nbsp;</TD>
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<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
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<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
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<TD VALIGN="TOP">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP" COLSPAN="16"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> 2.&nbsp;&nbsp;&nbsp; The name of the corporation is changed to (if
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;applicable): </FONT></TD>
<TD VALIGN="TOP" COLSPAN="15"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>Nouvelle d&eacute;nomination sociale de la soci&eacute;t&eacute; (s'il y a lieu):</I></FONT><I><FONT SIZE="2" FACE="Times New Roman, Times, serif"> &#160; &#160;
&#160; &#160; </FONT></I><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT><FONT SIZE="2"
FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD COLSPAN=33 VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">A</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">C</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">C</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">E</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">N</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">T</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">U</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">R</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">E</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">C</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">A</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">N</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">A</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">D</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">A</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">H</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">O</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">L</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">D</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">I</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">N</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">G</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">S</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">I</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">N</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">C</FONT></P>
</TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160;. </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
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<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
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<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
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</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
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</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP" COLSPAN="16"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> 3.&nbsp;&nbsp;&nbsp; Date of incorporation/amalgamation:</FONT></TD>
<TD VALIGN="TOP" COLSPAN="15"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>Date de la constitution ou de la fusion:</I></FONT><I><FONT SIZE="2" FACE="Times New Roman, Times, serif"> &#160;</FONT></I><FONT SIZE="2"
FACE="Times New Roman, Times, serif"> </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP" ALIGN="center"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">1994/11/01 </FONT> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP">
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, serif" SIZE="2">(Year, Month, Day)
<BR>
<I>(ann&eacute;e, mois, jour) </I></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP" COLSPAN="16"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> 4.&nbsp;&nbsp;&nbsp; The articles of the corporation are amended as &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;follows:</FONT></TD>
<TD VALIGN="TOP" COLSPAN="15"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>Les statuts de la soci&eacute;t&eacute; sont modifi&eacute;s de la fa&ccedil;on suivante.&#160; </I> </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">PAGES 1A TO 1U ARE INCORPORATED IN THIS FORM.</FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
</TABLE>
<FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT> <!--$$/page=[90468A.EX10_11]27 -->
<P></P>
<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD COLSPAN="2"><FONT SIZE="2" FACE="Times New Roman, Times, serif">The articles of the Corporation are amended as follows:</FONT></TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(1)</FONT></TD>
<TD WIDTH="96%" VALIGN="bottom" ALIGN="left"><FONT SIZE="2" FACE="Times New Roman, Times, serif">to create an unlimited number of Exchangeable Shares;</FONT></TD>
</TR>
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD WIDTH="96%" VALIGN="bottom" ALIGN="left">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(2)</FONT></TD>
<TD WIDTH="96%" VALIGN="bottom" ALIGN="left"><FONT SIZE="2" FACE="Times New Roman, Times, serif">to declare that the capital of the Corporation after giving effect to the foregoing consists of an unlimited number of common shares, an unlimited
number of Class A preference shares, an unlimited number of Class B preference shares, an unlimited number of Class C preference shares, and an unlimited number of Exchangeable Shares;</FONT></TD>
</TR>
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD WIDTH="96%" VALIGN="bottom" ALIGN="left">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(3)</FONT></TD>
<TD WIDTH="96%" VALIGN="bottom" ALIGN="left"><FONT SIZE="2" FACE="Times New Roman, Times, serif">to provide that the rights, privileges, restrictions and conditions attaching to the Exchangeable Shares are as set out in Schedule 1 hereto;
and</FONT></TD>
</TR>
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top">&nbsp;</TD>
<TD WIDTH="96%" VALIGN="bottom" ALIGN="left">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="4%" ALIGN="left" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(4)</FONT></TD>
<TD WIDTH="96%" VALIGN="bottom" ALIGN="left"><FONT SIZE="2" FACE="Times New Roman, Times, serif">to change the name of the Corporation to &quot;Accenture Canada Holdings Inc.&quot;.</FONT></TD>
</TR>
</TABLE>
<P></P>
<P ALIGN=left></P>
<P ALIGN=center><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>SCHEDULE 1</U></B></FONT></P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>Exchangeable Share Conditions</U></B></FONT></P>
<P ALIGN=center><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 1</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>INTERPRETATION</U></B></FONT></P>
<UL>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">For the purposes of these rights, privileges, restrictions and conditions:</FONT></P>
</UL>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 1.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions.</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Act&quot;</B> means the <I>Business Corporations Act</I> (Ontario), as amended, consolidated or reenacted from time to time.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Automatic Redemption Date&quot;</B> means the date for the automatic redemption by the Corporation of Exchangeable Shares pursuant to Article 7 of these share provisions, which date
shall be such date as is set by the Board of Directors following receipt by the Corporation of an opinion satisfactory to the Board of Directors from an internationally recognized legal counsel or professional tax advisor to the effect that such
redemption should be able to be effected on a tax-deferred basis with respect to holders of Exchangeable Shares resident in Canada for purposes of the <I>Income Tax Act</I> (Canada).</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Board of Directors&quot;</B> means the Board of Directors of the Corporation and any committee thereof acting within its authority.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Business Day&quot;</B> means any day other than a Saturday, a Sunday or a day when banks are not generally open for business in Toronto, Ontario, Hamilton, Bermuda and New York, New
York.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Common Shares&quot;</B> means the common shares in the capital of the Corporation.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Class A Shares&quot;</B> means the Class A shares, par value $0.00001 per share in the capital of ParentCo and including any other securities issued by ParentCo in substitution therefor
or provided in section 2.6 of the Support Agreement.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Corporation&quot;</B> means Accenture Canada Holdings Inc., a corporation incorporated and existing under the Act.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Current Market Price&quot;</B> means, on any given day in respect of a Class A Share; </FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD>&nbsp;&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">if the Exchangeable Share Consideration is to be satisfied by the payment of money, the average price per share on such day, net of brokerage and similar transaction costs, at which ParentCo
sells Class A Shares for the purpose of satisfying the Exchangeable Share Consideration in cash; and</FONT></TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">if the Exchangeable Share Consideration is to be satisfied by the delivery of Class A Shares, the average of the high and low sales prices of the Class A Shares reported on the principal stock
exchange or automated quotation system on which the Class A Shares are </FONT></TD>
</TR>
</TABLE>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD WIDTH="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">listed or quoted, as the case may be and as determined by the Board of Directors, on the Business Day following the date of receipt of notice by the Corporation of the notice
required to be received in order to calculate the Exchangeable Share Consideration hereunder, net of customary brokerage and similar transaction costs,.</FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Effective Date&quot;</B> means the date of the completion of the initial public offering of Class A Shares.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Exchange Put Right&quot;</B> has the meaning provided in Article 8. </FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Exchange Trust Agreement&quot;</B> means the Exchange Trust Agreement between the Corporation, ParentCo and the Trustee made as of the Effective Date.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Exchangeable Share Consideration&quot;</B> means, with respect to each Exchangeable Share, for any acquisition of, or redemption of, or distribution of assets of the Corporation in
respect of, or purchase pursuant to the Exchange Put Right of, Exchangeable Shares pursuant to these share provisions, the Support Agreement or the Exchange Trust Agreement, that part of the relevant consideration which is:</FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT>&nbsp;</TD>
<TD WIDTH="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD WIDTH="97%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Current Market Price of a Class A Share, such consideration shall be fully paid and satisfied, at the option of ParentCo on the date of any payment of such consideration, by
either the payment of money by a cheque or cheques payable at par at any branch of bankers of the payor, or by the delivery of one Class A Share, as evidenced by certificates representing the aggregate number of such Class A Shares;</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="97%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(d)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="97%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the amount of all declared and unpaid and undeclared but payable cash dividends deliverable in connection with such action, a cheque or cheques payable at par at any branch of
bankers of the payor; and</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="97%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(e)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="97%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">all declared and unpaid non-cash dividends deliverable in connection with such action, such consideration shall be fully satisfied by the delivery of such non-cash items;</FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">provided that (i) any such share shall be duly issued as fully paid and non-assessable and any such property shall be delivered free and clear of any lien, claim, encumbrance, security interest
or adverse claim or interest created by or through the Corporation or ParentCo; and (ii) such consideration shall be paid less any tax required to be deducted and withheld therefrom, unless the holder provides to the Corporation a certificate or
such other assurance as is provided for under applicable legislation as is required to ensure that the Corporation is not liable for such tax, and without interest.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Exchangeable Share Price&quot;</B> means, for each Exchangeable Share, at any given date, an amount equal to the aggregate of:</FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="2%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD WIDTH="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Current Market Price of a Class A Share; plus</FONT></TD>
</TR>
<TR>
<TD WIDTH="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="2%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">an additional amount equal to the full amount of all cash dividends declared and unpaid on such Exchangeable Share; plus</FONT></TD>
</TR>
</TABLE>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="1%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT>&nbsp;</TD>
<TD WIDTH="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD WIDTH="98%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">an additional amount equal to all dividends declared on a Class A Share which have not been declared on each Exchangeable Share in accordance herewith; plus</FONT></TD>
</TR>
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="98%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="1%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(d)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="98%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">an additional amount representing the value of non-cash dividends declared and unpaid on such Exchangeable Share.</FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Exchangeable Shares&quot;</B> means the Exchangeable Shares of the Corporation having the rights, privileges, restrictions and conditions set forth herein.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Liquidation Amount&quot;</B> has the meaning provided in Section 5.1 hereof.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Liquidation Call Right&quot;</B> has the meaning provided in the Support Agreement. </FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Liquidation Date&quot;</B> has the meaning provided in Section 5.1 hereof.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;ParentCo&quot;</B> means Accenture Ltd, a corporation organized and existing under the laws of Bermuda and includes any successor corporation.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;ParentCo Call Notice&quot;</B> has the meaning provided in Section 6.3 hereof</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;ParentCo Dividend Declaration Date&quot;</B> means the date on which the board of directors of ParentCo declares any dividend on the Class A Shares.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;ParentCo Dividend Payment Date&quot;</B> means the date on which any dividend declared by the board of directors of ParentCo on the Class A Shares is to be paid.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Purchase Price&quot;</B> has the meaning provided in Section 6.3 hereof.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Redemption Call Purchase Price&quot;</B> has the meaning provided in the Support Agreement.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Redemption Call Right&quot;</B> has the meaning provided in the Support Agreement. </FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Redemption Price&quot;</B> has the meaning provided in Section 7.1 hereof.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Reorganization&quot;</B> means the reorganization of the capital structure of the Corporation pursuant to which the Corporation issued certain Exchangeable Shares.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Retracted Shares&quot;</B> has the meaning provided in Subsection 6.1(i) hereof.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Retraction Call Right&quot;</B> has the meaning provided in Subsection 6.1(iii) hereof. </FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Retraction Date&quot;</B> has the meaning provided in Subsection 6.1(ii) hereof.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Retraction Price&quot;</B> has the meaning provided in Section 6.1 hereof.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Retraction Request&quot;</B> has the meaning provided in Section 6.1 hereof.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Subsidiary&quot;</B>, in relation to any person, means any body corporate, partnership, joint venture, association or other entity of which more than 50% of the total voting power of
shares or units of
ownership or beneficial interest entitled in all circumstances to vote in the election of directors (or members of a comparable governing body) is owned or controlled, directly or indirectly, by such person.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Support Agreement&quot;</B> means the Support Agreement between ParentCo and the Corporation made as of the Effective Date.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Transfer Restrictions&quot;</B> means any restrictions to which either the Exchangeable Shares or Class A Shares may be subject pursuant to any contract or agreement between the
Corporation or any affiliate thereof and the holder of Exchangeable Shares or Class A Shares..</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>&quot;Trustee&quot;</B> means any trustee or any successor trustee appointed under the Exchange Trust Agreement.</FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 2</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>RANKING OF EXCHANGEABLE SHARES</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 2.1</B> &nbsp;The Exchangeable Shares shall be entitled to a preference over the Common Shares and any other shares ranking junior to the Exchangeable Shares, with respect to (i)
priority in payment of dividends, and (ii) the distribution of assets in the event of the liquidation, dissolution or winding-up of the Corporation, whether voluntary or involuntary, or any other distribution of the assets of the Corporation among
its shareholders for the purpose of winding-up its affairs.</FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 3</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>DIVIDENDS</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 3.1</B> &nbsp;The Board of Directors shall, subject to applicable law, on each ParentCo Dividend Declaration Date, declare a dividend on each Exchangeable Share, and a holder of
Exchangeable Shares shall, subject to applicable law, be entitled to receive on each ParentCo Dividend Payment Date, in each case, (a) in the case of a cash dividend declared on the Class A Shares, in an amount in cash for each Exchangeable Share
equal to the cash dividend declared on each Class A Share or (b) in the case of a share dividend declared on the Class A Share to be paid in Class A Shares, in such number of Exchangeable Shares for each Exchangeable Share as is equal to the number
of Class A Shares to be paid on each Class A Share or (c) in the case of a dividend declared on the Class A Shares in property (other than cash or Class A Shares) in such type and amount of property for each Exchangeable Share as is the same as the
type and amount of property declared as a dividend on each Class A Share. Such dividends shall be paid out of money, assets or property of the Corporation properly applicable to the payment of dividends, or out of authorized but unissued shares of
the Corporation.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 3.2</B> &nbsp;Cheques of the Corporation payable at par at any branch of the bankers of the Corporation shall be issued in respect of any cash dividends contemplated by Subsection
3.1(a) hereof and the sending of such a cheque to each holder of an Exchangeable Share (less any tax required to be deducted and withheld from such dividends paid or credited by the Corporation) at the address of such holder according to the share
register of the Corporation shall satisfy the cash
dividends represented thereby unless the cheque is not paid on presentation. Certificates registered in the name of the registered holder of Exchangeable Shares shall be issued or transferred in respect of any share dividends contemplated by
Subsection 3.1(b) hereof and the sending of such a certificate to each holder of an Exchangeable Share at the address for such holder according to the share register of the Corporation shall satisfy the share dividend represented thereby. Such other
type and amount of property in respect of any dividends contemplated by Subsection 3.1(c) hereof shall be issued, distributed or transferred by the Corporation in such manner as it shall determine and the issuance, distribution or transfer thereof
by the Corporation to each holder of an Exchangeable Share at the address for such holder according to the share register of the Corporation shall satisfy the dividend represented thereby. In all cases any such dividends shall be subject to any
reduction or adjustment for tax required to be deducted and withheld from such dividends paid or credited by the Corporation. No holder of an Exchangeable Share shall be entitled to recover by action or other legal process against the Corporation
any dividend which is represented by a cheque that has not been duly presented to the Corporation's bankers for payment or which otherwise remains unclaimed for a period of six years from the date on which such dividend was payable.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 3.3</B> &nbsp;&nbsp;The record date for the determination of the holders of Exchangeable Shares entitled to receive payment of, and the payment date for, any dividend declared on the
Exchangeable Shares under Section 3.1 hereof shall be the same dates as the record date and payment date, respectively, for the corresponding dividend declared on the Class A Shares.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 3.4</B> &nbsp;&nbsp;If on any payment date for any dividends declared on the Exchangeable Shares under Section 3.1 hereof the dividends are not paid in full on all of the Exchangeable
Shares then outstanding, any such dividends which remain unpaid shall be paid on a subsequent date or dates determined by the Board of Directors on which the Corporation shall have sufficient moneys, assets or property properly applicable to the
payment of such dividends.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 3.5</B> &nbsp;&nbsp;Except as provided in this Article 3, the holders of Exchangeable Shares shall not be entitled to receive dividends in respect thereof.</FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 4</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>CERTAIN RESTRICTIONS</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 4.1</B> &nbsp;&nbsp;So long as any of the Exchangeable Shares are outstanding, the Corporation shall not without, but may at any time with, the approval of the holders of the
Exchangeable Shares given as specified in Section 10.2 of these share provisions at any time amend the articles or by-laws of the Corporation in a manner which would prejudicially affect the holders of Exchangeable Shares in any material
respect.</FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 5</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>DISTRIBUTION ON LIQUIDATION</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 5.1</B> &nbsp;&nbsp;In the event of the liquidation, dissolution or winding-up of the Corporation or any other distribution of the assets of the Corporation among its shareholders for
the purpose of
winding-up its affairs, a holder of Exchangeable Shares shall be entitled, subject to applicable law, to receive from the assets of the Corporation in respect of each Exchangeable Share held by such holder on the effective date of such liquidation,
dissolution or winding-up (the &quot;Liquidation Date&quot;), before any distribution of any part of the assets of the Corporation to the holders of the Common Shares or any other shares ranking junior to the Exchangeable Shares, an amount equal to
the Exchangeable Share Price applicable on the last Business Day prior to the Liquidation Date (the &quot;Liquidation Amount&quot;) which, as set forth in section 5.2, shall be fully paid and satisfied by the delivery by or on behalf of the
Corporation of the Exchangeable Share Consideration representing such holder's total Liquidation Amount. In connection with payment of the Exchangeable Share Consideration representing the total Liquidation Amount, the Corporation shall be entitled
to liquidate some of the Class A Shares which would otherwise be deliverable to the particular holder of Exchangeable Shares in order to fund any statutory withholding tax obligation.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 5.2</B> &nbsp;&nbsp;As soon as practicable but in no event later than 5 Business Days after the Liquidation Date, and subject to (i) the exercise by ParentCo of the Liquidation Call
Right, (ii) the Transfer Restrictions, (iii) either the Corporation or ParentCo being subject to any trading 'blackout' or 'windows' period, and (iv) ParentCo determining, in its sole discretion, that the issuance of Class A Shares in a public
offering in the United States of America would be inadvisable at such time or during such period as a result of application of any United States federal or state law or regulation, and receipt by the Corporation of appropriate certificates or other
assurances in respect of applicable taxes related to the payment of the Exchangeable Share Consideration, the Corporation shall cause to be delivered to the holders of the Exchangeable Shares the Exchangeable Share Consideration representing the
Liquidation Amount for each such Exchangeable Share upon presentation and surrender of the certificates representing such Exchangeable Shares, together with such other documents and instruments as may be required to effect a transfer of Exchangeable
Shares under the Act and the by-laws of the Corporation and such additional documents and instruments as the Corporation may reasonably require, at the registered office of the Corporation or such other office in Ontario, Canada as may be specified
by the Corporation by notice to the holders of the Exchangeable Shares. The Exchangeable Share Consideration representing the total Liquidation Amount for such Exchangeable Shares shall be delivered to each holder, at the address of the holder
recorded in the securities register of the Corporation for the Exchangeable Shares or by holding for pick up by the holder at the registered office of the Corporation or at such other office in Ontario, Canada as may be specified by the Corporation
by notice to the holders of Exchangeable Shares. On and after the Liquidation Date, the holders of the Exchangeable Shares shall cease to be holders of such Exchangeable Shares and shall not be entitled to exercise any of the rights of holders in
respect thereof, other than the right to receive their respective Exchangeable Share Consideration, unless payment of the Exchangeable Share Consideration representing the total Liquidation Amount for such Exchangeable Shares shall not be made upon
presentation and surrender of share certificates in accordance with the foregoing provisions, in which case the rights of the holders shall remain unaffected until the Exchangeable Share Consideration representing the total Liquidation Amount has
been paid in the manner hereinbefore provided. The Corporation shall have the right at any time on or after the Liquidation Date to deposit or cause to be deposited the Exchangeable Share Consideration in respect of the Exchangeable Shares
represented by certificates that have not at the Liquidation Date been surrendered by the holders thereof in a custodial account or for safekeeping, in the case of non-cash items, with any chartered bank or trust company in Canada.
Upon such deposit being made, the rights of the holders of Exchangeable Shares after such deposit shall be limited to receiving their proportionate share of the Exchangeable Share Consideration representing the total Liquidation Amount for such
Exchangeable Shares so deposited, against presentation and surrender of the said certificates held by them, respectively, in accordance with the foregoing provisions. If such payment or deposit of such Exchangeable Share Consideration is made in
part in Class A Shares, the holders of the Exchangeable Shares shall thereafter be considered and deemed for all purposes to be the holders of the Class A Shares delivered to them. </FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 5.3</B> &nbsp;&nbsp;After the Corporation has satisfied its obligations to pay the holders of the Exchangeable Shares the Exchangeable Share Consideration representing the Liquidation
Amount per Exchangeable Share, such holders shall not be entitled to share in any further distribution of the assets of the Corporation.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 5.4</B> &nbsp;&nbsp;If ParentCo exercises the Liquidation Call Right, each holder of Exchangeable Shares shall be obligated to sell all the Exchangeable Shares held by such holder to
ParentCo on the Liquidation Date on payment by ParentCo to the holder of the Exchangeable Share Consideration representing the Liquidation Call Purchase Price for each such share.</FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 6</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>RETRACTION OF EXCHANGEABLE SHARES BY HOLDER</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 6.1</B> &nbsp;&nbsp;A holder of Exchangeable Shares shall be entitled at any time, subject to (i) the exercise by ParentCo of the Retraction Call Right which, if exercised by
ParentCo, shall be binding on the holders of Exchangeable Shares, (ii) the Transfer Restrictions, (iii) either the Corporation or ParentCo being subject to any trading 'blackout' or 'windows' period, and (iv) ParentCo determining, in its sole
discretion, that the issuance of Class A Shares in a public offering in the United States of America would be inadvisable at such time or during such period as a result of application of any United States federal or state law or regulation, and
otherwise upon compliance with the provisions of this Article 6, to require the Corporation to redeem any or all of the Exchangeable Shares registered in the name of such holder for the Exchangeable Share Price applicable on the Business Day
following the date of the Retraction Request (the &quot;Retraction Price&quot;) which as set forth in section 6.4 shall be fully paid and satisfied by the delivery by or on behalf of the Corporation of the Exchangeable Share Consideration
representing such holder's total Retraction Price. In connection with payment of the Exchangeable Share Consideration representing the total Retraction Price, the Corporation shall be entitled to liquidate some of the Class A Shares that would
otherwise be deliverable to the particular holder of Exchangeable Shares in order to fund any statutory withholding tax obligation. To effect such redemption, the holder shall present and surrender at the registered office of the Corporation or at
such other office in Ontario, Canada as may be specified by the Corporation by notice to the holders of Exchangeable Shares the certificate or certificates representing the Exchangeable Shares which the holder desires to have the Corporation redeem,
together with such other documents and instruments as may be required to effect a transfer of Exchangeable Shares under the Act and the by-laws of the Corporation and such additional documents and instruments as the Corporation may reasonably
require, and together with a duly
executed statement (the &quot;Retraction Request&quot;) in the form of Schedule A hereto or in such other form as may be acceptable to the Corporation:</FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(i)</FONT></TD>
<TD>&nbsp;&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">specifying that the holder desires to have all or any number specified therein of the Exchangeable Shares represented by such certificate or certificates (the &quot;Retracted Shares&quot;)
redeemed by the Corporation;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(ii)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">stating the Business Day on which the holder desires to have the Corporation redeem the Retracted Shares (the &quot;Retraction Date&quot;), provided that such date shall be not less than five
Business Days nor more than ten Business Days, or such other number of Business Days as the Corporation may determine, after the date on which the Retraction Request is received by the Corporation and further provided that, in the event that no such
Business Day is specified by the holder in the Retraction Request, the Retraction Date shall be deemed to be the fifth Business Day after the date on which the Retraction Request is received by the Corporation; </FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(iii)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">acknowledging the overriding right (the &quot;Retraction Call Right&quot;) of ParentCo to purchase all but not less than all of the Retracted Shares directly from the holder and that the
Retraction Request shall be deemed to be a revocable offer by the holder to sell the Retracted Shares in accordance with the Retraction Call Right on the terms and conditions set out in Section 6.3 below.</FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 6.2</B> &nbsp;Subject to the exercise by ParentCo of the Retraction Call Right, upon receipt by the Corporation in the manner specified in Section 6.l hereof of a certificate or
certificates representing the number of Exchangeable Shares which the holder desires to have the Corporation redeem, together with a Retraction Request as well as appropriate certificates or other assurances in respect of applicable taxes related to
the payment of the Exchange Share Consideration, and provided that the Retraction Request is not revoked by the holder in the manner specified in Section 6.7 hereof, the Corporation shall redeem the Retracted Shares effective at the close of
business on the Retraction Date and shall cause to be delivered on the Retraction Date to such holder the Exchangeable Share Consideration representing the total Retraction Price with respect to such shares in accordance with Section 6.4 hereof. If
only a part of the Exchangeable Shares represented by any certificate are redeemed or purchased by ParentCo pursuant to the Retraction Call Right, a new certificate for the balance of such Exchangeable Shares shall be issued on the Retraction Date
to the holder at the expense of the Corporation.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 6.3</B> &nbsp;Upon receipt by the Corporation of a Retraction Request, the Corporation shall immediately notify ParentCo thereof. In order to exercise the Retraction Call Right,
ParentCo must notify the Corporation in writing of its determination to do so (the &quot;ParentCo Call Notice&quot;) within two Business Days of such notification. If ParentCo does not so notify the Corporation within two Business Days, the
Corporation will notify the holder as soon as possible thereafter that ParentCo will not exercise the Retraction Call Right. If ParentCo delivers the ParentCo Call Notice within such two Business Days, and provided that the Retraction Request is not
revoked by the holder in the manner specified in Section 6.7, the Retraction Request shall thereupon be considered only to be an offer by the holder to sell the Retracted Shares to ParentCo in accordance with the Retraction Call Right. In such
event, the Corporation shall not redeem the
Retracted Shares and ParentCo shall purchase from such holder and such holder shall sell to ParentCo on the Retraction Date the Retracted Shares for a purchase price (the &quot;Purchase Price&quot;) per share equal to the Retraction Price per share
which as set forth in section 6.4, shall be fully paid and satisfied by the delivery by or on behalf of ParentCo of the Exchangeable Share Consideration representing such holder's total Purchase Price. For the purposes of completing a purchase
pursuant to the Retraction Call Right, ParentCo shall deposit with the Corporation, on or before the Retraction Date, the Exchangeable Share Consideration for each Exchangeable Share to be purchased. Provided that such Exchangeable Share
Consideration has been so deposited with the Corporation, the closing of the purchase and sale of the Retracted Shares pursuant to the Retraction Call Right shall be deemed to have occurred as at the close of business on the Retraction Date and, for
greater certainty, no redemption by the Corporation of such Retracted Shares shall take place on the Retraction Date. In the event that ParentCo does not deliver a ParentCo Call Notice within two Business Days or otherwise comply with these
Exchangeable Share provisions in respect thereto, and provided that the Retraction Request is not revoked by the holder in the manner specified in Section 6.7 hereof, the Corporation shall redeem the Retracted Shares on the Retraction Date and in
the manner otherwise contemplated in this Article&#160;6.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 6.4</B> &nbsp;&nbsp;Subject to receipt by the Corporation or ParentCo of appropriate certificates or other assurances in respect of applicable taxes related to the payment of the
Exchangeable Share Consideration, the Corporation or ParentCo, as the case may be, shall deliver on the Retraction Date the Exchangeable Share Consideration representing the total Retraction Price or the total Purchase Price, as the case may be, to
the relevant holder, at the address of the holder recorded in the securities register of the Corporation for the Exchangeable Shares or at the address specified in the holder's Retraction Request or by holding for pick-up by the holder at the
registered office of the Corporation or at such other office in Ontario, Canada as may be specified by the Corporation by notice to the holders of Exchangeable Shares and such delivery of such Exchangeable Share Consideration shall be deemed to be
payment of and shall satisfy and discharge all liability under this Article 6, except as to any cheque included therein which is not paid on due presentation.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 6.5</B>&nbsp; &nbsp;On and after the close of business on the Retraction Date, the holder of the Retracted Shares shall not be entitled to exercise any of the rights of a holder in
respect thereof, other than the right to receive the Exchangeable Share Consideration representing the total Retraction Price or total Purchase Price, as the case may be, unless upon presentation and surrender of certificates in accordance with the
foregoing provisions, payment of the Exchangeable Share Consideration representing the total Retraction Price or the total Purchase Price, as the case may be, shall not be made, in which case the rights of such holder shall remain unaffected until
the Exchangeable Share Consideration representing the total Retraction Price or the total Purchase Price, a the case may be, has been paid in the manner hereinbefore provided. On and after the close of business on the Retraction Date, provided that
presentation and surrender of certificates and payment of the total Retraction Price or the total Purchase Price, as the case may be, has been made in accordance with the foregoing provisions, the holder of the Retracted Shares so redeemed by the
Corporation or purchased by ParentCo shall thereafter be considered and deemed for all purposes to be a holder of the Class A Shares delivered to it.</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT> </P>
<P></P>
<P><FONT FACE="Times Roman"><B><FONT SIZE="2" FACE="Times New Roman, Times, serif">Section 6.6</FONT></B><FONT SIZE="2" FACE="Times New Roman, Times, serif"> &nbsp;&nbsp;Notwithstanding any other provision of this Article 6, the Corporation shall
not be obligated to redeem Retracted Shares specified by a holder in a Retraction Request to the extent that such redemption of Retracted Shares would be contrary to liquidity or solvency requirements or other provisions of applicable law. If the
Corporation believes that on any Retraction Date it would not be permitted by any of such provisions to redeem the Retracted Shares tendered for redemption on such date, and provided that ParentCo shall not have exercised the Retraction Call Right
with respect to the Retracted Shares, the Corporation shall only be obligated to redeem Retracted Shares specified by a holder in a Retraction Request to the extent of the maximum number that may be so redeemed (rounded down to a whole number of
shares) as would not be contrary to such provisions and shall notify the holder at least two Business Days prior to the Retraction Date as to the number of Retracted Shares which will not be redeemed by the Corporation. In any case in which the
redemption by the Corporation of Retracted Shares would be contrary to liquidity or solvency requirements or other provisions of applicable law, the Corporation shall redeem Retracted Shares in accordance with Section 6.2 of these share provisions
on a pro rata basis in respect of Exchangeable Shares to be redeemed on the applicable Retraction Date, and shall issue on the Retraction Date to each holder of Retracted Shares a new certificate, at the expense of the Corporation, representing the
Retracted Shares not redeemed by the Corporation pursuant to Section 6.2 hereof. Provided that the Retraction Request is not revoked by the holder in the manner specified in Section 6.7 hereof, the holder of any such Retracted Shares not redeemed by
the Corporation pursuant to Section 6.2 of these share provisions as a result of liquidity or solvency requirements or applicable law shall be deemed by giving the Retraction Request to require ParentCo to purchase such Retracted Shares from such
holder on the Retraction Date or as soon as practicable thereafter on payment by ParentCo to such holder of the Exchangeable Share Consideration representing the Purchase Price for each such Retracted Share, all as more specifically provided in the
Exchange Trust Agreement, and ParentCo shall make such purchase.</FONT></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 6.7</B> &nbsp;&nbsp;A holder of Retracted Shares may, by notice in writing given by the holder to the Corporation before the close of business on the Business Day immediately
preceding the Retraction Date, withdraw its Retraction Request in which event such Retraction Request shall be null and void and, for greater certainty, the revocable offer constituted by the Retraction Request to sell the Retracted Shares to
ParentCo shall be deemed to have been revoked.</FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 7</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>REDEMPTION OF EXCHANGEABLE SHARES BY THE CORPORATION</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 7.1</B> &nbsp;&nbsp;Subject to applicable law, and if ParentCo does not exercise the Redemption Call Right which, if exercised by ParentCo, shall be binding on the holders of
Exchangeable Shares, the Corporation shall on the Automatic Redemption Date redeem the whole of the then outstanding Exchangeable Shares for an amount equal to the Exchangeable Share Price applicable on the last Business Day prior to the Automatic
Redemption Date (the &quot;Redemption Price&quot;), which as set forth in section 7.3 below, shall be fully paid and satisfied by delivery by or on behalf of the Corporation of the Exchangeable Share Consideration representing the total Redemption
Price. In connection with payment of the Exchangeable Share Consideration representing the Redemption Price, the Corporation shall be entitled to liquidate some of the
Class A Shares which would otherwise be deliverable to the particular holder of Exchangeable Shares in order to fund any statutory withholding tax obligation.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 7.2</B> &nbsp;&nbsp;In any case of a redemption of Exchangeable Shares under this Article 7, the Corporation shall, at least 30 days before the Automatic Redemption Date, send or
cause to be sent to each holder of Exchangeable Shares a notice in writing of the redemption by the Corporation or the purchase by ParentCo under the Redemption Call Right, as the case may be, of the Exchangeable Shares held by such holder. Such
notice shall set out the Automatic Redemption Date and, if applicable, particulars of the Redemption Call Right. Any failure by the Corporation to send any such notice in writing shall not affect the right of the Corporation to redeem the
Exchangeable Shares on the Automatic Redemption Date.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 7.3</B> &nbsp;&nbsp;On the Automatic Redemption Date and subject to the exercise by ParentCo of the Redemption Call Right, and receipt by the Corporation of appropriate certificates
or other assurances in respect of applicable taxes related to the payment of the Exchangeable Share Consideration, the Corporation shall cause to be delivered to the holders of the Exchangeable Shares to be redeemed the Exchangeable Share
Consideration representing the Redemption Price for each such Exchangeable Share upon presentation and surrender at the registered office of the Corporation or at such other office in Ontario, Canada as may be specified by the Corporation in such
notice of the certificates representing such Exchangeable Shares, together with such other documents and instruments as may be required to effect a transfer of Exchangeable Shares under the Act and the by-laws of the Corporation and such additional
documents and instruments as the Corporation may reasonably require. The Exchangeable Share Consideration representing the total Redemption Price for such Exchangeable Shares shall be delivered to each holder, at the address of the holder recorded
in the securities register for the Exchangeable Shares. On the Automatic Redemption Date, the holders of the Exchangeable Shares called for redemption shall cease to be holders of such Exchangeable Shares and shall not be entitled to exercise any of
the rights of holders in respect thereof, other than the right to receive their respective Exchangeable Share Consideration unless payment of the Exchangeable Share Consideration representing the total Redemption Price for such Exchangeable Shares
shall not be made upon presentation and surrender of certificates in accordance with the foregoing provisions, in which case the rights of the holders shall remain unaffected until such Exchangeable Share Consideration has been paid in the manner
hereinbefore provided. The Corporation shall have the right at any time after the automatic Redemption Date to deposit or cause to be deposited the Exchangeable Share Consideration with respect to the Exchangeable Shares so called for redemption, or
of such of the said Exchangeable Shares represented by certificates that have not at the date of such deposit been surrendered by the holders thereof in connection with such redemption, in a custodial account or for safe keeping, in the case of
non-cash items, with any chartered bank or trust company in Canada named in such notice. Upon the later of such deposit being made and the Automatic Redemption Date, the Exchangeable Shares in respect whereof such deposit shall have been made shall
be redeemed and the rights of the holders thereof after such deposit or Automatic Redemption Date, as the case may be, shall be limited to receiving their respective Exchangeable Share Consideration so deposited, against presentation and surrender
of the said certificates held by them, respectively, in accordance with the foregoing provisions. Upon such payment or deposit of such Exchangeable Share Consideration, the holders of the Exchangeable Shares shall thereafter be considered and deemed
for all purposes to be holders of the Class A Shares delivered to them. </FONT></P>

<P></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 7.4</B>&nbsp;&nbsp; If ParentCo exercises the Redemption Call Right, each holder of Exchangeable Shares shall be obligated to sell all the Exchangeable Shares held by the holder to
ParentCo on the Automatic Redemption Date on payment by ParentCo to the holder of the Exchangeable Share Consideration representing the Redemption Call Purchase Price for each such share.</FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 8</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>EXCHANGE PUT RIGHT</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 8.1</B>&nbsp;&nbsp; Upon and subject to the terms and conditions contained in these Exchangeable Share Provisions and the Exchange Trust Agreement:</FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD><FONT SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">a holder of Exchangeable Shares shall have the right (the &quot;Exchange Put Right&quot;) at any time to require ParentCo to purchase all or any part of the Exchangeable Shares of the holder,
subject to (i) the Transfer Restrictions, (iii) either the Corporation or ParentCo being subject to any trading 'blackout' or 'windows' period, and (iv) ParentCo determining, in its sole discretion, that the issuance of Class A Shares in a public
offering in the United States of America would be inadvisable at such time or during such period as a result of application of any United States federal or state regulation; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD><FONT SIZE="2"></FONT></TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">upon the exercise by the holder of the Exchange Put Right, the holder shall be required to sell to ParentCo, and ParentCo shall be required to purchase from the holder, that number of
Exchangeable Shares in respect of which the Exchange Put Right is exercised, in consideration of the payment by ParentCo of the Exchangeable Share Price applicable thereto (which shall be the Exchangeable Share Price applicable on the Business Day
following the receipt of the notice required under section 8.2 hereof), to be satisfied by delivery by or on behalf of ParentCo of the Exchangeable Share Consideration. </FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 8.2</B> &nbsp;&nbsp;The Exchange Put Right provided in Section 8.1 hereof and in Article VII of the Exchange Trust Agreement may be exercised at any time by notice in writing in the
form of Schedule B hereto or in such other form as may be acceptable to ParentCo (the &quot;Notice of Exercise of Exchange Put Right&quot;) given by the holder to and received by the Corporation (the date of such receipt, the &quot;Exchange Put
Date&quot;) accompanied by presentation and surrender of the certificates representing such Exchangeable Shares, together with such documents and instruments as may be required to effect a transfer of Exchangeable Shares under the Act and the
by-laws of the Corporation and such additional documents and instruments as the Corporation may reasonably require, at the registered office of the Corporation or at such other office in Ontario, Canada as may be specified by the Corporation. The
Notice of Exercise of Exchange Put Right shall be irrevocable unless the exchange is not completed in accordance herewith and shall constitute the holder's authorization to the Corporation (and such other persons aforesaid) to effect the exchange on
behalf of the holder.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 8.3</B>&nbsp;&nbsp; The surrender by the holder of Exchangeable Shares under section 8.2 shall constitute the representation, warranty and covenant of the holder that the Exchangeable
Shares so purchased are sold free and clear of any lien, encumbrance, security interest or adverse claim or interest.</FONT></P>

<P></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 8.4</B> &nbsp;&nbsp;If a part only of the Exchangeable Shares represented by any certificate are to be sold and purchased pursuant to the exercise of the Exchange Put Right, a new
certificate for the balance of such Exchangeable Shares shall be issued to the holder at the expense of the Corporation within ten Business Days of the exercise of the Exchange Put Right.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 8.5</B> &nbsp;&nbsp;Upon receipt by the Corporation of the notice, certificates and other documents or instruments required by section 8.2, and receipt by the Corporation of
appropriate certificates or other assurance in respect of applicable taxes related to the payment of the Exchangeable Share Consideration, the Corporation shall deliver or cause to be delivered as soon as practicable but in no event later than the
fifth Business Day after the Exchange Put Date, on behalf of ParentCo and subject to receipt by the Corporation from ParentCo of the applicable Exchangeable Share Consideration, to the relevant holder at the address of the holder specified in the
notice or by holding for pick-up by the holder at the registered office of the Corporation, or at such other office in Ontario, Canada as may be specified by the Corporation, the Exchangeable Share Consideration. Delivery by ParentCo to the
Corporation and by the Corporation to the holder of such Exchangeable Share Consideration shall be deemed to be payment of and shall satisfy and discharge all liability for the total applicable Exchangeable Share Price, except as to any cheque
included therein which is not paid on due presentation.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 8.6</B> &nbsp;&nbsp;On and after the close of business on the day on which the Exchangeable Share Consideration is delivered to the holder of Exchangeable Shares in accordance with
Section 8.5, the holder of the Exchangeable Shares in respect of which the Exchange Put Right is exercised shall not be entitled to exercise any of the rights of a holder in respect thereof, other than the right to receive the Exchangeable Share
Consideration, unless upon presentation and surrender of certificates in accordance with the foregoing provisions, payment of such total price shall not be made, in which case the rights of such holder shall remain unaffected until such payment has
been made. On and after the close of business on the day on which the Exchangeable Share Consideration is delivered to the holder of Exchangeable Shares in accordance with Section 8.5, provided that presentation and surrender of certificates and
payment of such total price has been made in accordance with the foregoing provisions, the holder of the Exchangeable Shares so purchased by ParentCo shall thereafter be considered and deemed for all purposes to be a holder of the Class A Shares
delivered to it. </FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 9</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>VOTING RIGHTS</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 9.1</B> &nbsp;&nbsp;Except as required by applicable law and by Articles 4 and 10 hereof, the holders of the Exchangeable Shares shall not be entitled as such to receive notice of or
to attend any meeting of the shareholders of Corporation or to vote at any such meeting.</FONT></P>

<P></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 10</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>AMENDMENT AND APPROVAL</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 10.1</B> &nbsp;&nbsp;The rights, privileges, restrictions and conditions attaching to the Exchangeable Shares may be added to, changed or removed but, except as hereinafter provided,
only with the approval of the holders of the Exchangeable Shares given as hereinafter specified.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 10.2</B> &nbsp;&nbsp;Any approval given by the holders of the Exchangeable Shares to add to, change or remove any right, privilege, restriction or condition attaching to the
Exchangeable Shares or any other matter requiring the approval or consent of the holders of the Exchangeable Shares shall be deemed to have been sufficiently given if it shall have been given in accordance with applicable law subject to a minimum
requirement that such approval be evidenced by resolution passed by not less than 66 <SUP>2</SUP>
/<SUB>3</SUB>
% of the votes cast on such resolution by persons represented in person or by proxy at a meeting of holders of Exchangeable Shares duly called and held at which the holders of at least 25% of the outstanding Exchangeable Shares at that time are
present or represented by proxy (excluding Exchangeable Shares beneficially owned by ParentCo or its Subsidiaries). If at any such meeting the holders of at least 25% of the outstanding Exchangeable Shares at that time are not present or represented
by proxy within one-half hour after the time appointed for such meeting then the meeting shall be adjourned to such date not less than 24 hours thereafter and to such time and place as may be designated by the Chairman of such meeting. At such
adjourned meeting the holders of Exchangeable Shares present or represented by proxy thereat may transact the business for which the meeting was originally called and a resolution passed thereat by the affirmative vote of not less than 66
<SUP>2</SUP>
/<SUB>3</SUB>
% of the votes cast on such resolution by persons represented in person or by proxy at such meeting shall constitute the approval or consent of the holders of the Exchangeable Shares. For the purposes of this section, any spoiled votes, illegible
votes, defective votes and abstentions shall be deemed to be votes not cast.</FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 11</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>RECIPROCAL CHANGES, ETC. IN RESPECT OF
<BR>
</U></B></FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>CLASS A SHARES</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 11.1</B> &nbsp;&nbsp;Notwithstanding the provisions of Article 10, the Exchangeable Shares shall be automatically adjusted to fully reflect the effect of any stock split, subdivision,
combination, reverse split, stock dividend (including any dividend or distribution of securities convertible into Class A Shares), reclassification, reorganization, recapitalization or other like change with respect to Class A Stock occurring after
the Effective Date.</FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 12</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>ACTIONS BY THE CORPORATION UNDER
<BR>
</U></B></FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>SUPPORT AGREEMENT</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 12.1</B> &nbsp;&nbsp;The Corporation will take all such actions and do all such things as shall be necessary or advisable to perform and comply with and to ensure performance and
compliance by ParentCo with all provisions of the Support Agreement and the Exchange Trust Agreement in
accordance with the terms thereof including, without limitation, taking all such actions and doing all such things as shall be necessary or advisable to enforce to the fullest extent possible for the direct benefit of the Corporation or the holders
of the Exchangeable Shares all rights and benefits in favour of the Corporation or the holders of the Exchangeable Shares under or pursuant thereto.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 12.2</B> &nbsp;&nbsp;The Corporation shall not propose, agree to or otherwise give effect to any amendment to, or waive or forgive its rights or obligations under, the Support
Agreement or the Exchange Trust Agreement without the approval of the holders of the Exchangeable Shares given in accordance with Section 10.1 of these share provisions other than such amendments, waivers and/or forgiveness as may be necessary or
advisable for the purpose of:</FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD>&nbsp;&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">adding to the covenants of the other party or parties to such agreement for the protection of the Corporation or the holders of Exchangeable Shares; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">making such provisions or modifications not inconsistent with such agreement or certificate as may be necessary or desirable with respect to matters or questions arising thereunder which, in
the opinion of the Board of Directors, it may be expedient to make, provided that the Board of Directors shall be of the opinion, after consultation with counsel, that such provisions and modifications will not be prejudicial to the interests of the
holders of the Exchangeable Shares; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">making such changes in or corrections to such agreement or certificate which, on the advice of counsel to the Corporation, are required for the purpose of curing or correcting any ambiguity or
defect or inconsistent provision or clerical omission or mistake or manifest error contained therein, provided that the Board of Directors shall be of the opinion, after consultation with counsel, that such changes or corrections will not be
prejudicial to the interest of the holders of the Exchangeable Shares.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 13</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>LEGEND</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 13.1</B> &nbsp;&nbsp;The certificates evidencing the Exchangeable Shares shall contain or have affixed thereto a legend, in form and on terms approved by the Board of Directors, with
respect to the Support Agreement, the Liquidation Call Right and the Redemption Call Right, and the Exchange Trust Agreement (including the provisions with respect to the voting rights, exchange right and automatic exchange thereunder).</FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 14</B>
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>MISCELLANEOUS</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 14.1</B> &nbsp;&nbsp;Any notice, request or other communication to be given to the Corporation by a holder of Exchangeable Shares shall be in writing and shall be valid and effective
if given by mail (postage prepaid) or by telecopy or by delivery to the registered office of the Corporation and addressed to the attention of the President. Any such notice, request or other communication, if given by mail, telecopy or delivery,
shall only be deemed to have been given and received upon actual receipt thereof by the Corporation.</FONT></P>

<P></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 14.2</B> &nbsp;Any presentation and surrender by a holder of Exchangeable Shares to the Corporation of certificates representing Exchangeable Shares in connection with the
liquidation, dissolution or winding-up of the Corporation or the retraction or redemption of Exchangeable Shares shall be made by registered mail (postage prepaid) or by delivery to the registered office of the Corporation or to such other office in
Ontario, Canada as may be specified by the Corporation, in each case addressed to the attention of the President of the Corporation. Any such presentation and surrender of certificates shall only be deemed to have been made and to be effective upon
actual receipt thereof by the Corporation and the method of any such presentation and surrender of certificates shall be at the sole risk of the holder.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 14.3</B> &nbsp;Any notice, request or other communication to be given to a holder of Exchangeable Shares by or on behalf of the Corporation shall be in writing and shall be valid and
effective if given by mail (postage prepaid) or by delivery to the address of the holder recorded in the securities register of the Corporation or, in the event of the address of any such holder not being so recorded, then at the last known address
of such holder. Any such notice, request or other communication, if given by mail, shall be deemed to have been given and received on the fifth Business Day following the date of mailing and, if given by delivery, shall be deemed to have been given
and received on the date of delivery. Accidental failure or omission to give any notice, request or other communication to one or more holders of Exchangeable Shares shall not invalidate or otherwise alter or affect any action or proceeding to be or
intended to be taken by the Corporation.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 14.4</B> &nbsp;For greater certainty, the Corporation shall not be required for any purpose under these share provisions to recognize or take account of persons who are not so
recorded in such securities register.</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 14.5</B> &nbsp;All Exchangeable Shares acquired by the Corporation upon the redemption or retraction thereof shall be cancelled.</FONT></P>
<P></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>COMMON SHARES</U></B></FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">The holders of the Common Shares shall be entitled:</FONT></P>
</TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">1. </FONT></TD>
<TD>&nbsp;&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">To receive notice of, and to attend and to vote at all meetings of shareholders of the Corporation except meetings at which only holders of a specified class of shares other than the Common
Shares are entitled to vote, and to cast at all such meetings one vote per Common Share;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">2.</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the rights of the holders of Exchangeable Shares, to receive and the Corporation shall pay thereon, as and when declared by the Board of Directors out of monies of the Corporation
properly applicable to the payment of dividends, such amounts as may from time to time be declared by the Board of Directors; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">3.</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">Subject to the rights of the holders of Exchangeable Shares, to receive, subject to the rights of the holders of any other classes of shares, the remaining property of the Corporation on the
liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>SCHEDULE A</U></B></FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>RETRACTION REQUEST</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="19"><FONT FACE="Times New Roman, Times, serif" SIZE="2">To:</FONT></TD>
<TD WIDTH="10">&nbsp;&nbsp;</TD>
<TD WIDTH="943"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Accenture Canada Holdings Inc. (the &quot;Corporation&quot;)</FONT></TD>
</TR>
<TR>
<TD WIDTH="19">&nbsp;</TD>
<TD WIDTH="10">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="943"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Accenture Ltd (&quot;Accenture&quot;)</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="Times New Roman, Times, serif" SIZE="2">This notice is given pursuant to Article 6 of the provisions (the &quot;Share Provisions&quot;) attaching to the Exchangeable Shares of the
Corporation represented by the enclosed certificate and all capitalized words and expressions used in this notice which are defined in the Share Provisions have the meaning attributed to such words and expressions in such Share Provisions.</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby notifies the Corporation that, subject to the Retraction Call Right referred to below, the undersigned desires to have the
Corporation redeem in accordance with Article 6 of the Share Provisions:</FONT></P>

<TABLE WIDTH="690" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="15"><FONT FACE="wingdings">o</FONT></TD>
<TD WIDTH="10">&nbsp;&nbsp;</TD>
<TD WIDTH="665"><FONT FACE="Times New Roman, Times, serif" SIZE="2">all share(s) represented by the certificate(s) accompanying this notice; or</FONT></TD>
</TR>
<TR>
<TD WIDTH="15">&nbsp;</TD>
<TD WIDTH="10">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="665">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="15"><FONT FACE="wingdings">o</FONT></TD>
<TD WIDTH="10">&nbsp;</TD>
<TD WIDTH="665"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> share(s) only.</FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">The undersigned hereby notifies the Corporation that the Retraction Date shall be<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
 .</FONT></P>
<P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR>
<TD VALIGN="TOP" WIDTH=40>
<P><FONT FACE="Times Roman" SIZE="2">NOTE:</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH=10>&nbsp;&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=922>
<P><FONT FACE="Times Roman" SIZE="2">Retraction Date must be a Business Day and must not be less than 5 Business Days nor more than 10 Business Days, or such other number of days as the Corporation may agree, after the date upon which this notice is
received by the Corporation. In the event that no such Business Day is correctly specified above, the Retraction Date shall be deemed to be the fifth Business Day after the date on which this notice is received by the Corporation.</FONT></P>
</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned acknowledges the Retraction Call Right of Accenture to purchase all but not less than all of the Retracted Shares from the
undersigned and that notices shall be deemed to be a revocable offer by the undersigned to sell the Retracted Shares to Accenture in accordance with the Retraction Call Right on the Retraction Date for the Retraction Price and on the other terms and
conditions set out in Section 6.3 of the Share Provisions. If Accenture determines not to exercise the Retraction Call Right, the Corporation will notify the undersigned of such act as soon as possible. This notice of retraction, and offer to sell
the Retracted Shares to Accenture, may be revoked and withdrawn by the undersigned by notice in writing given to the Corporation at any time before the close of business on the Business Date immediately preceding the Retraction Date.</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned acknowledges that if, as a result of liquidity or solvency provisions of applicable law, the Corporation is unable to redeem all
Retracted Shares, the undersigned will be deemed, subject to revoking this notice in accordance with the Share Provisions, to have exercised the Exchange Right (as defined in the Exchange Trust Agreement) so as to require Accenture to purchase the
unredeemed Retracted Shares.</FONT></P>

<P></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby represents and warrants to the Corporation and Accenture that the undersigned has good title to, and owns, the Exchangeable
Share(s) that are the subject of this notice and are to be acquired by the Corporation or Accenture, as the case may be, free and clear of all Transfer Restrictions, liens, claims, encumbrances, security interests and adverse claims or
interests.</FONT></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="top">
<TD WIDTH="15"><FONT FACE="wingdings">o</FONT></TD>
<TD WIDTH="10">&nbsp;&nbsp;</TD>
<TD WIDTH="665"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Please check box if the legal or beneficial owner of the Retracted Shares is a non-resident of Canada.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="15">&nbsp;</TD>
<TD WIDTH="10">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="665">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="15"><FONT FACE="wingdings">o</FONT></TD>
<TD WIDTH="10">&nbsp;</TD>
<TD WIDTH="665"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Please check box if the securities and any cheque(s) or other non-cash assets resulting from the retraction of the Retracted Shares are to be held for pick-up by the shareholder at
the registered office of the Corporation, failing which the securities and any cheque(s) or other non-cash assets will be delivered to the shareholder in accordance with the Share Provisions.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0" BORDER="0">
<TR>
<TD VALIGN="TOP" WIDTH=438>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Name of Person in Whole Name Securities or Cheque(s) or Other Non-cash Assets Are To Be Registered, Issued or Delivered (please print)</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH=21>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=496>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Date</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH=438>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=21>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=496>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH=438>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Street Address or P.O. Box</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH=21>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=496>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Signature of Shareholder</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH=438>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=21>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=496>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH=438>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
City, Province</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH=21>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=496><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
</TABLE>

<P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0">
<TR>
<TD VALIGN="TOP">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">NOTE:</FONT></P>
</TD>
<TD VALIGN="TOP">&nbsp;&nbsp;</TD>
<TD VALIGN="TOP">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">This notice must be completed and the certificate(s) representing the Exchangeable Shares which are the subject of this notice, together with such additional documents as the Corporation may
require, must be deposited with the Corporation at its head office. The securities and any cheque(s) or other non-cash assets resulting from the retraction or purchase of the Retracted Shares will be issued and registered in, and made payable to, or
transferred into, respectively, the name of the shareholder as it appears on the register of the Corporation and the securities, cheque(s) and other non-cash assets resulting from such retraction or purchase will be delivered to the shareholder in
accordance with the Share Provisions.</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">NOTE:</FONT></P>
</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">If the notice of retraction is for less than all of the share(s) represented by the certificate(s) submitted with this notice, a certificate representing the remaining shares of the Corporation
will be issued and registered in the name of the shareholder as it appears on the register of the Corporation.</FONT></P>
</TD>
</TR>
</TABLE>

<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>SCHEDULE B</U></B></FONT></P>
<P ALIGN=CENTER><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>NOTICE OF EXERCISE OF EXCHANGE PUT RIGHT</B></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="19"><FONT FACE="Times New Roman, Times, serif" SIZE="2">To:</FONT></TD>
<TD WIDTH="10">&nbsp;&nbsp;</TD>
<TD WIDTH="943"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Accenture Ltd (&quot;Accenture&quot;)</FONT></TD>
</TR>
<TR>
<TD WIDTH="19">&nbsp;</TD>
<TD WIDTH="10">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="943"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Accenture Canada Holdings Inc. (the &quot;Corporation&quot;)</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="Times New Roman, Times, serif" SIZE="2">This notice is given pursuant to Article 8 of the provisions (the &quot;Share Provisions&quot;) attaching to the Exchangeable Shares of the
Corporation represented by the enclosed certificate and all capitalized words and expressions used in this notice which are defined in the Share Provisions have the meaning attributed to such words and expressions in such Share Provisions.
</FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby notifies Accenture that the undersigned desires to exercise the Exchange Put Right in accordance with Article 8 of the
Share Provisions with respect to:</FONT></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="top">
<TD WIDTH="15"><FONT FACE="wingdings">o</FONT></TD>
<TD WIDTH="10">&nbsp;&nbsp;</TD>
<TD WIDTH="665"><FONT FACE="Times New Roman, Times, serif" SIZE="2">all share(s) represented by the certificate(s) accompanying this notice; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="15">&nbsp;</TD>
<TD WIDTH="10">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="665">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="15"><FONT FACE="wingdings">o</FONT></TD>
<TD WIDTH="10">&nbsp;</TD>
<TD WIDTH="665"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </U> &nbsp;&nbsp;&nbsp;share(s) only.</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="Times New Roman, Times, serif" SIZE="2">The undersigned hereby represents and warrants to Accenture that the undersigned has good title to, and owns, the share(s) that are the subject of
this notice and are to be acquired by Accenture free and clear of all Transfer Restrictions, liens, claims, encumbrances, security interests and adverse claims or interests.</FONT></P>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="top">
<TD WIDTH="15"><FONT FACE="wingdings">o</FONT></TD>
<TD WIDTH="10">&nbsp;&nbsp;</TD>
<TD WIDTH="665"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Please check box if the legal or beneficial owner of the Exchangeable Shares is a nonresident of Canada.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="15">&nbsp;</TD>
<TD WIDTH="10">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="665">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="15"><FONT FACE="wingdings">o</FONT></TD>
<TD WIDTH="10">&nbsp;</TD>
<TD WIDTH="665"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Please check box if the securities and any cheque(s) or other non-cash assets resulting from the exchange of the Exchangeable Shares are to be held for pickup by the shareholder at
the registered office of the Corporation, failing which the securities and any cheque(s) or other non-cash assets will delivered to the shareholder in accordance with the Share Provisions.</FONT></TD>
</TR>
</TABLE>
<FONT FACE="Times New Roman, Times, serif" SIZE="2"><U></U></FONT>
<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0" BORDER="0">
<TR>
<TD VALIGN="TOP" WIDTH=463>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Name of Person in Whole Name Securities or Cheque(s) or Other Non-cash Assets Are To Be Registered, Issued or Delivered (please print) </FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH=22>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=471>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Date</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH=463>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=22>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=471>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH=463><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Street Address or PO Box</FONT></TD>
<TD VALIGN="TOP" WIDTH=22>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=471><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Signature of Shareholder</FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH=463>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=22>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=471>&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH=463><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
City, Province</FONT></TD>
<TD VALIGN="TOP" WIDTH=22>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=471>&nbsp;</TD>
</TR>
</TABLE>
<P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR>
<TD VALIGN="TOP" WIDTH=36>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">NOTE:</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH=10>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=926>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">This notice must be completed and the certificate(s) representing the Exchangeable Shares which are the subject of this notice, together with such additional documents as the Corporation may
require, must be deposited with the Corporation at its head office. The securities and any cheque(s) or other non-cash assets resulting from the exchange of the Exchangeable Shares will be issued and registered in, and made payable to, or
transferred into, respectively, the name of the shareholder as it appears on the register of the Corporation and the securities, cheque(s) and other non-cash assets resulting from such exchange will be delivered to the shareholder in accordance with
the Share Provisions.</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH=36><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP" WIDTH=10>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=926><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH=36>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">NOTE:</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH=10>&nbsp;</TD>
<TD VALIGN="TOP" WIDTH=926>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">If the notice of exercise of Exchange Put Right is for less than all of the share(s) represented by the certificate(s) submitted with this notice, a certificate representing the remaining shares
of the Corporation will be issued and registered in the name of the shareholder as it appears on the register of the Corporation.</FONT></P>
</TD>
</TR>
</TABLE>
<FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT>
<P> </P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="8%">
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Form 3
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">Business
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">Corporations
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">Act</FONT></P>
</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="8%">
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Formule 3
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">Loi sur les
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">soci&#233;t&#233;s par
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">actions</FONT></P>
</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2"><FONT SIZE="2" FACE="Times New Roman, Times, serif">5. The amendment has been duly authorized as required by Sections 168
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&amp; 170 (as applicable) of the Business Corporation Act.</FONT></TD>
<TD WIDTH="46%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">La modification a &#233;t&#233; d&#251;ment autoris&#233;e conformement aux articles 168 et 170 (selon le cas) de la Loi sur les soci&#233;t&#233;s par actions.</FONT></TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2"><FONT SIZE="2" FACE="Times New Roman, Times, serif">6. The resolution authorizing the amendment was approved by the
<BR>
&nbsp;&nbsp;&nbsp; shareholders/directors (as applicable) of the corporation on </FONT></TD>
<TD WIDTH="46%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Les actionnaires ou les administrateurs (selon le cas) de la soci&#233;t&#233; ont approuv&#233; la r&#233;solution autorisant la modification le</FONT></TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%"> <DIV ALIGN="center"></DIV>
</TD>
<TD COLSPAN="3"> <DIV ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">2001/05/23</FONT> <HR NOSHADE ALIGN="center" WIDTH="100%" SIZE="1"> </DIV>
</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">
<P ALIGN="center">&nbsp;</P>
</TD>
<TD COLSPAN="3">
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(Year, Month, Day)
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">(ann&#233;e, mois, jour)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2"><FONT SIZE="2" FACE="Times New Roman, Times, serif">These articles are signed in duplicate. </FONT></TD>
<TD WIDTH="46%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">Les pr&#233;sents status sont sign&#233;s en double exemplaire.</FONT></TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%"> <DIV ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">1102773 ONTARIO INC.</FONT> <HR NOSHADE ALIGN="center" WIDTH="100%" SIZE="1"> </DIV>
</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(Name of Corporation)
<BR>
</FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">(Denomination sociale de la soci&#233;t&#233;)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="29%">&nbsp;</TD>
<TD WIDTH="15%"> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">By: /Par:</FONT></DIV>
</TD>
<TD WIDTH="46%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> /s/ [ILLEGIBLE] &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PRESIDENT</FONT> <HR NOSHADE ALIGN="center"
WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(Signature) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Description of Office)
<BR>
(Signature) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Fonction) </FONT></TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="46%">&nbsp;</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>

<P ALIGN=left><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="50%">&nbsp;</TD>
<TD WIDTH="18%"> <DIV ALIGN="right"></DIV>
</TD>
<TD WIDTH="32%"> <DIV ALIGN="center"><I>Ontario Corporation Number
<BR>
Num&eacute;ro de la societ&eacute; en Ontario
<BR>
1102773 </I></DIV>
</TD>
</TR>
</TABLE>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">STAMP
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MAY &nbsp;31 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MAI,&nbsp; 2001</FONT></P>
<P ALIGN=CENTER></P>
<TABLE BORDER=0 CELLPADDING="0" CELLSPACING="0" WIDTH="700">
<TR>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD></TD>
</TR>
<TR>
<TD VALIGN="TOP" ALIGN="center" COLSPAN="33"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2"> ARTICLES OF AMENDMENT
<BR>
<I>STATUTS DE MODIFICATION</I></FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP" ALIGN="center">&nbsp;</TD>
<TD VALIGN="TOP" ALIGN="center">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="16">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="15">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Form 3
<BR>
Business
<BR>
Corporations
<BR>
Act</FONT></TD>
<TD VALIGN="TOP" ALIGN="center">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="16"><FONT FACE="Times New Roman, Times, serif" SIZE="2">1. &nbsp;&nbsp;&nbsp;The name of the corporation is:</FONT></TD>
<TD VALIGN="bottom" COLSPAN="15"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>D&eacute;nomination sociale de la soci&eacute;t&eacute;:</I></FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">A</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">C</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">C</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">E</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">N</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">T</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">U</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">R</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">E</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">C</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">A</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">N</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">A</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">D</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">A</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">H</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">O</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">L</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">D</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">I</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">N</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">G</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">S</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">I</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">N</FONT></P>
</TD>
<TD VALIGN="TOP" ALIGN="center">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">C</FONT></P>
</TD>
<TD VALIGN="TOP">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">.</FONT></P>
</TD>
<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
<TR>
<TD VALIGN="TOP">
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>Formule 3
<BR>
Loi sur les
<BR>
soci&eacute;t&eacute;s par
<BR>
actions</I></FONT></P>
</TD>
<TD VALIGN="TOP">&nbsp;</TD>
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<TD VALIGN="TOP" COLSPAN="16"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> 2.&nbsp;&nbsp;&nbsp; The name of the corporation is changed to (if
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;applicable): </FONT></TD>
<TD VALIGN="TOP" COLSPAN="15"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>Nouvelle d&eacute;nomination sociale de la soci&eacute;t&eacute; (s'il y a lieu):</I></FONT><I><FONT SIZE="2" FACE="Times New Roman, Times, serif"> &#160; &#160;
&#160; &#160; </FONT></I><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT><FONT SIZE="2"
FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
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<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP" COLSPAN="16"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> 3.&nbsp;&nbsp;&nbsp; Date of incorporation/amalgamation:</FONT></TD>
<TD VALIGN="TOP" COLSPAN="15"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>Date de la constitution ou de la fusion:</I></FONT><I><FONT SIZE="2" FACE="Times New Roman, Times, serif"> &#160;</FONT></I><FONT SIZE="2"
FACE="Times New Roman, Times, serif"> </FONT></TD>
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<TD VALIGN="TOP">&nbsp;</TD>
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<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP" ALIGN="center"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">1994/11/01 </FONT> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
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<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP">
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, serif" SIZE="2">(Year, Month, Day)
<BR>
<I>(ann&eacute;e, mois, jour) </I></FONT></P>
</TD>
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<TR>
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<TD VALIGN="TOP">&nbsp;</TD>
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</TR>
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<TD VALIGN="TOP">&nbsp;</TD>
<TD VALIGN="TOP" COLSPAN="16"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> 4.&nbsp;&nbsp;&nbsp; The articles of the corporation are amended as &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;follows:</FONT></TD>
<TD VALIGN="TOP" COLSPAN="15"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>Les statuts de la soci&eacute;t&eacute; sont modifi&eacute;s de la fa&ccedil;on suivante.&#160; </I> </FONT></TD>
</TR>
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<TD VALIGN="TOP">&nbsp;</TD>
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<TD COLSPAN=31 VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pages 1A and 1U are incorporated in this form</FONT></TD>
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<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
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<TD VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
<TD VALIGN="TOP">&nbsp;</TD>
<TD COLSPAN=31 VALIGN="TOP"><FONT SIZE="2" FACE="Times New Roman, Times, serif">&#160; </FONT></TD>
</TR>
</TABLE>
<FONT SIZE="2" FACE="Times New Roman, Times, serif"> </FONT>
<P></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">The articles of the Corporation are amended as follows:</FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(1)</FONT></TD>
<TD>&nbsp;&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">to create an unlimited number of New Zealand Exchangeable Shares;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(2)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">to declare that the capital of the Corporation after giving effect to the foregoing consists of an unlimited number of common shares, an unlimited number of Class A preference shares, an
unlimited number of Class B preference shares, an unlimited number of Class C preference shares, an unlimited number of Exchangeable Shares, and an unlimited number of New Zealand Exchangeable Shares; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(3)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">to provide that the rights, privileges, restrictions and conditions attaching to the New Zealand Exchangeable Shares are as set out in Schedule 1 hereto.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>SCHEDULE 1</U></B></FONT></P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>New Zealand Exchangeable Share Conditions</U></B></FONT></P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 1
<BR>
<U>INTERPRETATION</U></B></FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the purposes of these rights, privileges, restrictions and conditions:</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 1.1 &nbsp;&nbsp;<U>Definitions.</U></B></FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Act&quot; </B>means the <I>Business Corporations Act </I>(Ontario), as amended, consolidated or reenacted from time to time.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Automatic Redemption Date&quot; </B>means the date for the automatic redemption by the Corporation of Exchangeable Shares pursuant to Article 7 of these share provisions, which date
shall be the date as is set by the Board of Directors following receipt by the Corporation of an opinion satisfactory to the Board of Directors from an internationally recognized legal counsel or professional tax advisor to the effect that such
redemption (or the exercise of the redemption call right) should be able to effected on a basis such that with respect to the holders of the Exchangeable Shares resident in New Zealand that the redemption (or the exercise of the redemption call
right) will not result in any Canadian or New Zealand tax liability arising in respect of the redemption (or the exercise of the redemption call right) or any potential future tax liability as a result of holding Class A Shares pursuant to
either:</FONT></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Controlled Foreign Company or the Foreign Investment Fund provisions of the </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"><I>Income Tax Act 1994 (New </I>Zealand);
or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">the provisions of the <I>Income Tax Act </I>(Canada) governing dispositions of taxable Canadian property by non-residents of Canada to the extent that such provisions are not overridden by the
income tax convention between Canada and New Zealand.</FONT></TD>
</TR>
</TABLE>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Board of Directors&quot; </B>means the Board of Directors of the Corporation and any committee thereof acting within its authority.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Business Day&quot; </B>means any day other than a Saturday, a Sunday or a day when banks are not generally open for business in Toronto, Ontario, Hamilton, Bermuda, Auckland, New
Zealand and New York, New York.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Common Shares&quot; </B>means the common shares in the capital of the Corporation.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Class A Shares&quot; </B>means the Class A shares, par value $0.00001 per share in the capital of ParentCo and including any other securities issued by ParentCo in substitution therefor
or provided in section 2.6 of the Support Agreement.</FONT></P>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Corporation&quot; </B>means Accenture Canada Holdings Inc., a corporation incorporated and existing under the Act.</FONT></P>

<P></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Current Market Price&quot; </B>means, on any given day in respect of a Class A Share:</FONT></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">if the NZ Exchangeable Share Consideration is to be satisfied by the payment of money, the average price per share on such day, net of brokerage and similar transaction costs, at which ParentCo
sells Class A Shares for the purpose of satisfying the NZ Exchangeable Share Consideration in cash; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(d)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">if the NZ Exchangeable Share Consideration is to be satisfied by the delivery of Class A </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Shares, the average of the high and low sales
prices of the Class A Shares reported on the principal stock exchange or automated quotation system on which the Class A Shares are listed or quoted, as the case may be and as determined by the Board of Directors, on the Business Day following the
date of receipt of notice by the Corporation of the notice required to be received in order to calculate the NZ Exchangeable Share Consideration hereunder, net of customary brokerage and similar transaction costs.</FONT></TD>
</TR>
</TABLE>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Effective Date&quot; </B>means the date of the completion of the initial public offering of Class A Shares.</FONT></P>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Exchange Put Right&quot; </B>has the meaning provided in Article 8.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Exchange Trust Agreement&quot; </B>means the Exchange Trust Agreement between the Corporation, ParentCo and the Trustee made as of the Effective Date.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Liquidation Amount&quot; </B>has the meaning provided in Section 5.1 hereof.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Liquidation Call Right&quot; </B>has the meaning provided in the Support Agreement.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Liquidation Date&quot; </B>has the meaning provided in Section 5.1 hereof.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;NZ Exchangeable Share Consideration&quot; </B>means, with respect to each NZ Exchangeable Share, for any acquisition of, or redemption of, or distribution of assets of the Corporation
in respect of, or purchase pursuant to the Exchange Put Right of, NZ Exchangeable Shares pursuant to these share provisions, the Support Agreement or the Exchange Trust Agreement, that part of the relevant consideration which is:</FONT></P>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="top">
<TD WIDTH="1%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD WIDTH="1%">&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="98%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Current Market Price of a Class A Share, such consideration shall be fully paid and satisfied, at the option of ParentCo on the date of any payment of such consideration, by
either the payment of money by a cheque or cheques payable at par at any branch of bankers of the payor, or by the delivery of one Class A Share, as evidenced by certificates representing the aggregate number of such Class A Shares;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="98%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="1%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="98%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the amount of all declared and unpaid and undeclared but payable cash dividends deliverable in connection with such action, a cheque or cheques payable at par at any branch of
bankers of the payor; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="98%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="1%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="98%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">all declared and unpaid non-cash dividends deliverable in connection with such action, such consideration shall be fully satisfied by the delivery of such non-cash items;</FONT></TD>
</TR>
</TABLE>
<FONT SIZE="2" FACE="Times New Roman, Times, serif"><B></B></FONT>
<P></P>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="top">
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">provided that (i) any such share shall be duly issued as fully paid and non-assessable and any such property shall be delivered free and clear of any lien, claim, encumbrance,
security interest or adverse claim or interest created by or through the Corporation or ParentCo; and (ii) such consideration shall be paid less any tax required to be deducted and withheld therefrom, unless the holder provides to the Corporation a
certificate or such other assurance as is provided for under applicable legislation as is required to ensure that the Corporation is not liable for such tax, and without interest.</FONT></TD>
</TR>
</TABLE>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;NZ Exchangeable Share Price&quot; </B>means, for each NZ Exchangeable Share, at any given date, an amount equal to the aggregate of:</FONT></P>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="top">
<TD WIDTH="1%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD WIDTH="1%">&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="98%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">the Current Market Price of a Class A Share; plus</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="98%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="1%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(b)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="98%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">an additional amount equal to the full amount of all cash dividends declared and unpaid on such NZ Exchangeable Share; plus</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="98%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="1%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(c)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="98%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">an additional amount equal to all dividends declared on a Class A Share which have not been declared on each NZ Exchangeable Share in accordance herewith; plus</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="98%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="1%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(d)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="98%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">an additional amount representing the value of non-cash dividends declared and unpaid on such NZ Exchangeable Share.</FONT></TD>
</TR>
</TABLE>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;NZ Exchangeable Shares&quot; </B>means the New Zealand Exchangeable Shares of the Corporation having the rights, privileges, restrictions and conditions set forth herein. </FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;ParentCo&quot; </B>means Accenture Ltd, a corporation organized and existing under the laws of Bermuda and includes any successor corporation.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;ParentCo Call Notice&quot; </B>has the meaning provided in Section 6.3 hereof.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;ParentCo Dividend Declaration Date&quot; </B>means the date on which the board of directors of ParentCo declares any dividend on the Class A Shares.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;ParentCo Dividend Payment Date&quot; </B>means the date on which any dividend declared by the board of directors of ParentCo on the Class A Shares is to be paid.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Purchase Price&quot; </B>has the meaning provided in Section 6.3 hereof.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Redemption Call Purchase Price&quot; </B>has the meaning provided in the Support Agreement.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Redemption Call Right&quot; </B>has the meaning provided in the Support Agreement.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Redemption Price&quot; </B>has the meaning provided in Section 7.1 hereof.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Reorganization&quot; </B>means the reorganization of the capital structure of the Corporation pursuant to which the Corporation issued certain NZ Exchangeable Shares.</FONT></P>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Retracted Shares&quot; </B>has the meaning provided in Subsection 6.1 (i) hereof.</FONT></P>

<P></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Retraction Call Right&quot; </B>has the meaning provided in Subsection 6.1 (iii) hereof.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Retraction Date&quot; </B>has the meaning provided in Subsection 6.1 (ii) hereof.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Retraction Price&quot; </B>has the meaning provided in Section 6.1 hereof.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Retraction Request&quot; </B>has the meaning provided in Section 6.1 hereof.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Subsidiary&quot;</B>,<B> </B>in relation to any person, means any body corporate, partnership, joint venture, association or other entity of which more than 50% of the total voting
power of shares or units of ownership or beneficial interest entitled in all circumstances to vote in the election of directors (or members of a comparable governing body) is owned or controlled, directly or indirectly, by such person.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Support Agreement&quot; </B>means the Support Agreement between ParentCo and the Corporation made as of the Effective Date.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Transfer Restrictions&quot; </B>means any restrictions to which either the NZ Exchangeable Shares or Class A Shares may be subject pursuant to any contract or agreement between the
Corporation or any affiliate thereof and the holder of NZ Exchangeable Shares or Class A Shares.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>&quot;Trustee&quot; </B>means any trustee or any successor trustee appointed under the Exchange Trust Agreement.</FONT></P>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 2
<BR>
<U>RANKING OF EXCHANGEABLE SHARES</U></B></FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 2.1</B> &nbsp;&nbsp;The Exchangeable Shares shall rank equally with the NZ Exchangeable Shares and shall be entitled to a preference over the Common Shares and any other shares
ranking junior to the NZ Exchangeable Shares, with respect to (i) priority in payment of dividends, and (ii) the distribution of assets in the event of the liquidation, dissolution or winding-up of the Corporation, whether voluntary or involuntary,
or any other distribution of the assets of the Corporation among its shareholders for the purpose of winding-up its affairs.</FONT></P>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 3
<BR>
<U>DIVIDENDS</U></B></FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 3.1</B> &nbsp;&nbsp;The Board of Directors shall, subject to applicable law, on each ParentCo Dividend Declaration Date, declare a dividend on each NZ Exchangeable Share, and a holder
of NZ Exchangeable Shares shall, subject to applicable law, be entitled to receive on each ParentCo Dividend Payment Date, in each case, (a) in the case of a cash dividend declared on the Class A Shares, in an amount in cash for each NZ Exchangeable
Share equal to the cash dividend declared on each Class A Share or (b) in the case of a share dividend declared on the Class A Share to be paid in Class A Shares, in such number of NZ Exchangeable Shares for each NZ Exchangeable Share as is equal to
the number of Class A Shares to be paid on each Class A Share or (c) in the case of a dividend declared on the Class A Shares in property (other than cash
or Class A Shares) in such type and amount of property for each NZ Exchangeable Share as is the same as the type and amount of property declared as a dividend on each Class A Share. Such dividends shall be paid out of money, assets or property of
the Corporation properly applicable to the payment of dividends, or out of authorized but unissued shares of the Corporation.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 3.2</B> &nbsp;&nbsp;Cheques of the Corporation payable at par at any branch of the bankers of the Corporation shall be issued in respect of any cash dividends contemplated by
Subsection 3.1 (a) hereof and the sending of such a cheque to each holder of an NZ Exchangeable Share (less any tax required to be deducted and withheld from such dividends paid or credited by the Corporation) at the address of such holder according
to the share register of the Corporation shall satisfy the cash dividends represented thereby unless the cheque is not paid on presentation. Certificates registered in the name of the registered holder of NZ Exchangeable Shares shall be issued or
transferred in respect of any share dividends contemplated by Subsection 3.1 (b) hereof and the sending of such a certificate to each holder of an NZ Exchangeable Share at the address for such holder according to the share register of the
Corporation shall satisfy the share dividend represented thereby. Such other type and amount of property in respect of any dividends contemplated by Subsection 3.1(c) hereof shall be issued, distributed or transferred by the </FONT><FONT
FACE="Times New Roman, Times, serif" SIZE="2">Corporation in such manner as it shall determine and the issuance, distribution or transfer thereof by the Corporation to each holder of an NZ Exchangeable Share at the address for such holder according
to the share register of the Corporation shall satisfy the dividend represented thereby. In all cases any such dividends shall be subject to any reduction or adjustment for tax required to be deducted and withheld from such dividends paid or
credited by the Corporation. No holder of an NZ Exchangeable Share shall be entitled to recover by action or other legal process against the Corporation any dividend which is represented by a cheque that has not been duly presented to the
Corporation's bankers for payment or which otherwise remains unclaimed for a period of six years from the date on which such dividend was payable.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 3.3 </B>&nbsp;&nbsp;The record date for the determination of the holders of NZ Exchangeable Shares entitled to receive payment of, and the payment date for, any dividend declared on
the NZ Exchangeable Shares under Section 3.1 hereof shall be the same dates as the record date and payment date, respectively, for the corresponding dividend declared on the Class A Shares.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 3.4 </B>&nbsp;&nbsp;If on any payment date for any dividends declared on the NZ Exchangeable Shares under Section 3.1 hereof the dividends are not paid in full on all of the NZ
Exchangeable Shares then outstanding, any such dividends which remain unpaid shall be paid on a subsequent date or dates determined by the Board of Directors on which the Corporation shall have sufficient moneys, assets or property properly
applicable to the payment of such dividends.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 3.5 </B>&nbsp;&nbsp;Except as provided in this Article 3, the holders of NZ Exchangeable Shares shall not be entitled to receive dividends in respect thereof.</FONT></P>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 4
<BR>
<U>CERTAIN RESTRICTIONS</U></B></FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 4.1</B> &nbsp;&nbsp;So long as any of the NZ Exchangeable Shares are outstanding, the Corporation shall not without, but may at any time with, the approval of the holders of the NZ
Exchangeable</FONT></P>

<P></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">Shares given as specified in Section 10.2 of these share provisions at any time amend the articles or by-laws of the Corporation in a manner which would prejudicially affect the holders of NZ
Exchangeable Shares in any material respect.</FONT></P>
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 5
<BR>
<U>DISTRIBUTION ON LIQUIDATION</U></B></FONT></P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 5.1&nbsp;&nbsp; </B>In the event of the liquidation, dissolution or winding-up of the Corporation or any other distribution of the assets of the Corporation among its shareholders for
the purpose of winding-up its affairs, a holder of NZ Exchangeable Shares shall be entitled, subject to applicable law, to receive from the assets of the Corporation in respect of each NZ Exchangeable Share held by such holder on the effective date
of such liquidation, dissolution or winding-up (the &quot;Liquidation Date&quot;), before any distribution of any part of the assets of the Corporation to the holders of the Common Shares or any other shares ranking junior to the NZ Exchangeable
Shares, an amount equal to the NZ Exchangeable Share Price applicable on the last Business Day prior to the Liquidation Date (the &quot;Liquidation Amount&quot;) which, as set forth in section 5.2, shall be fully paid and satisfied by the delivery
by or on behalf of the Corporation of the NZ Exchangeable Share Consideration representing such holder's total Liquidation Amount. In connection with payment of the NZ Exchangeable Share Consideration representing the total Liquidation Amount, the
Corporation shall be entitled to liquidate some of the Class A Shares which would otherwise be deliverable to the particular holder of NZ Exchangeable Shares in order to fund any statutory withholding tax obligation.</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 5.2 </B>&nbsp;&nbsp;As soon as practicable but in no event later than 5 Business Days after the Liquidation Date, and subject to (i) the exercise by ParentCo of the Liquidation Call
Right, (ii) the Transfer Restrictions, (iii) either the Corporation or ParentCo being subject to any trading 'blackout' or 'windows' period, and (iv) ParentCo determining, in its sole discretion, that the issuance of Class A Shares in a public
offering in the United States of America would be inadvisable at such time or during such period as a result of application of any United States federal or state law or regulation, and receipt by the Corporation of appropriate certificates or other
assurances in respect of applicable taxes related to the payment of the NZ Exchangeable Share Consideration, the Corporation shall cause to be delivered to the holders of the NZ Exchangeable Shares the NZ Exchangeable Share Consideration
representing the Liquidation Amount for each such NZ Exchangeable Share upon presentation and surrender of the certificates representing such NZ Exchangeable Shares, together with such other documents and instruments as may be required to effect a
transfer of NZ Exchangeable Shares under the Act and the by-laws of the Corporation and such additional documents and instruments as the Corporation may reasonably require, at the registered office of the Corporation or such other office in Ontario,
Canada as may be specified by the Corporation by notice to the holders of the NZ Exchangeable Shares. The NZ Exchangeable Share Consideration representing the total Liquidation Amount for such NZ Exchangeable Shares shall be delivered to each
holder, at the address of the holder recorded in the securities register of the Corporation for the NZ Exchangeable Shares or by holding for pick up by the holder at the registered office of the Corporation or at such other office in Ontario, Canada
as may be specified by the Corporation by notice to the holders of NZ Exchangeable Shares. On and after the Liquidation Date, the holders of the NZ Exchangeable Shares shall cease to be holders of such NZ Exchangeable Shares and
shall not be entitled to exercise any of the rights of holders in respect thereof, other than the right to receive their respective NZ Exchangeable Share Consideration, unless payment of the NZ Exchangeable Share Consideration representing the total
Liquidation Amount for such NZ Exchangeable Shares shall not be made upon presentation and surrender of share certificates in accordance with the foregoing provisions, in which case the rights of the holders shall remain unaffected until the NZ
Exchangeable Share Consideration representing the total Liquidation Amount has been paid in the manner hereinbefore provided. The Corporation shall have the right at any time on or after the Liquidation Date to deposit or cause to be deposited the
NZ Exchangeable Share Consideration in respect of the NZ Exchangeable Shares represented by certificates that have not at the Liquidation Date been surrendered by the holders thereof in a custodial account or for safekeeping, in the case of non-cash
items, with any chartered bank or trust company in Canada. Upon such deposit being made, the rights of the holders of NZ Exchangeable Shares after such deposit shall be limited to receiving their proportionate share of the NZ Exchangeable Share
Consideration representing the total Liquidation Amount for such NZ Exchangeable Shares so deposited, against presentation and surrender of the said certificates held by them, respectively, in accordance with the foregoing provisions. If such
payment or deposit of such NZ Exchangeable Share Consideration is made in part in Class A Shares, the holders of the NZ Exchangeable Shares shall thereafter be considered and deemed for all purposes to be the holders of the Class A Shares delivered
to them.</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 5.3 </B>&nbsp;&nbsp;After the Corporation has satisfied its obligations to pay the holders of the NZ Exchangeable Shares the NZ Exchangeable Share Consideration representing the
Liquidation Amount per NZ Exchangeable Share, such holders shall not be entitled to share in any further distribution of the assets of the Corporation.</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 5.4&nbsp;&nbsp; </B>If ParentCo exercises the Liquidation Call Right, each holder of NZ Exchangeable Shares shall be obligated to sell all the NZ Exchangeable Shares held by such
holder to ParentCo on the Liquidation Date on payment by ParentCo to the holder of the NZ Exchangeable Share Consideration representing the Liquidation Call Purchase Price for each such share.</FONT></P>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 6
<BR>
<U>RETRACTION OF EXCHANGEABLE SHARES BY HOLDER</U></B></FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 6.1 </B>&nbsp;&nbsp;A holder of NZ Exchangeable Shares shall be entitled at any time, subject to (i) the exercise by ParentCo of the Retraction Call Right which, if exercised by
ParentCo, shall be binding on the holders of NZ Exchangeable Shares, (ii) the Transfer Restrictions, (iii) either the Corporation or ParentCo being subject to any trading 'blackout' or 'windows' period, and (iv) ParentCo determining, in its sole
discretion, that the issuance of Class A Shares in a public offering in the United States of America would be inadvisable at such time or during such period as a result of application of any United States federal or state law or regulation, and
otherwise upon compliance with the provisions of this Article 6, to require the Corporation to redeem any or all of the NZ Exchangeable Shares registered in the name of such holder for the NZ Exchangeable Share Price applicable on the Business Day
following the date of the Retraction Request (the &quot;Retraction Price&quot;) which as set forth in section 6.4 shall be fully paid and satisfied by the delivery by or on behalf of the Corporation of the NZ Exchangeable Share Consideration
representing such holder's total Retraction Price. In connection with payment of the NZ
Exchangeable Share Consideration representing the total Retraction Price, the Corporation shall be entitled to liquidate some of the Class A Shares that would otherwise be deliverable to the particular holder of NZ Exchangeable Shares in order to
fund any statutory withholding tax obligation. To effect such redemption, the holder shall present and surrender at the registered office of the Corporation or at such other office in Ontario, Canada as may be specified by the Corporation by notice
to the holders of NZ Exchangeable Shares the certificate or certificates representing the NZ Exchangeable Shares which the holder desires to have the Corporation redeem, together with such other documents and instruments as may be required to effect
a transfer of NZ Exchangeable Shares under the Act and the by-laws of the Corporation and such additional documents and instruments as the Corporation may reasonably require, and together with a duly executed statement (the &quot;Retraction
Request&quot;) in the form of Schedule A hereto or in such other form as may be acceptable to the Corporation:</FONT></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(i) </FONT></TD>
<TD>&nbsp;&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">specifying that the holder desires to have all or any number specified therein of the NZ </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Exchangeable Shares represented by such
certificate or certificates (the &quot;Retracted Shares&quot;) redeemed by the Corporation;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(ii)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">stating the Business Day on which the holder desires to have the Corporation redeem the Retracted Shares (the &quot;Retraction Date&quot;), provided that such date shall be not less than five
Business Days nor more than ten Business Days, or such other number of Business Days as the Corporation may determine, after the date on which the Retraction Request is received by the Corporation and further provided that, in the event that no such
Business Day is specified by the holder in the Retraction Request, the Retraction Date shall be deemed to be the fifth Business Day after the date on which the Retraction Request is received by the Corporation;</FONT></TD>
</TR>
<TR VALIGN="top">
<TD>&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">(iii)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">acknowledging the overriding right (the &quot;Retraction Call Right&quot;) of ParentCo to purchase all but not less than all of the Retracted Shares directly from the holder and that the
Retraction Request shall be deemed to be a revocable offer by the holder to sell the </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Retracted Shares in accordance with the Retraction Call Right on the terms and conditions set out in
Section 6.3 below.</FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 6.2</B> &nbsp;&nbsp;Subject to the exercise by ParentCo of the Retraction Call Right, upon receipt by the Corporation in the manner specified in Section 6.1 hereof of a certificate or
certificates representing the number of NZ Exchangeable Shares which the holder desires to have the Corporation redeem, together with a Retraction Request as well as appropriate certificates or other assurances in respect of applicable taxes related
to the payment of the NZ Exchange Share Consideration, and provided that the Retraction Request is not revoked by the holder in the manner specified in Section 6.7 hereof, the Corporation shall redeem the Retracted Shares effective at the close of
business on the Retraction Date and shall cause to be delivered on the Retraction Date to such holder the NZ Exchangeable Share Consideration representing the total Retraction Price with respect to such shares in accordance with Section 6.4 hereof.
If only a part of the NZ Exchangeable Shares represented by any certificate are redeemed or purchased by ParentCo pursuant to the Retraction Call Right, a new certificate for the balance of such NZ Exchangeable Shares shall be issued on the
Retraction Date to the holder at the expense of the Corporation.</FONT></P>

<P></P>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 6.3 </B>&nbsp;&nbsp;Upon receipt by the Corporation of a Retraction Request, the Corporation shall immediately notify ParentCo thereof. In order to exercise the Retraction Call Right,
ParentCo must notify the Corporation in writing of its determination to do so (the &quot;ParentCo Call Notice&quot;) within two Business Days of such notification. If ParentCo does not so notify the Corporation within two Business Days, the
Corporation will notify the holder as soon as possible thereafter that ParentCo will not exercise the Retraction Call Right. If ParentCo delivers the ParentCo Call Notice within such two Business Days, and provided that the Retraction Request is not
revoked by the holder in the manner specified in Section 6.7, the Retraction Request shall thereupon be considered only to be an offer by the holder to sell the Retracted Shares to ParentCo in accordance with the Retraction Call Right. In such
event, the Corporation shall not redeem the Retracted Shares and ParentCo shall purchase from such holder and such holder shall sell to ParentCo on the Retraction Date the Retracted Shares for a purchase price (the &quot;Purchase Price&quot;) per
share equal to the Retraction Price per share which as set forth in section 6.4, shall be fully paid and satisfied by the delivery by or on behalf of ParentCo of the NZ Exchangeable Share Consideration representing such holder's total Purchase
Price. For the purposes of completing a purchase pursuant to the Retraction Call Right, ParentCo shall deposit with the Corporation, on or before the Retraction Date, the NZ Exchangeable Share Consideration for each NZ Exchangeable Share to be
purchased. Provided that such NZ Exchangeable Share Consideration has been so deposited with the Corporation, the closing of the purchase and sale of the Retracted Shares pursuant to the Retraction Call Right shall be deemed to have occurred as at
the close of business on the Retraction Date and, for greater certainty, no redemption by the Corporation of such Retracted Shares shall take place on the Retraction Date. In the event that ParentCo does not deliver a ParentCo Call Notice within two
Business Days or otherwise comply with these NZ Exchangeable Share provisions in respect thereto, and provided that the Retraction Request is not revoked by the holder in the manner specified in Section 6.7 hereof, the Corporation shall redeem the
Retracted Shares on the Retraction Date and in the manner otherwise contemplated in this Article 6.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 6.4</B> &nbsp;&nbsp;Subject to receipt by the Corporation or ParentCo of appropriate certificates or other assurances in respect of applicable taxes related to the payment of the NZ
Exchangeable Share Consideration, the Corporation or ParentCo, as the case may be, shall deliver on the Retraction Date the NZ Exchangeable Share Consideration representing the total Retraction Price or the total Purchase Price, as the case may be,
to the relevant holder, at the address of the holder recorded in the securities register of the Corporation for the NZ Exchangeable Shares or at the address specified in the holder's Retraction Request and such delivery of such NZ Exchangeable Share
Consideration shall be deemed to be payment of and shall satisfy and discharge all liability under this Article 6, except as to any cheque included therein which is not paid on due presentation.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 6.5</B> &nbsp;&nbsp;On and after the close of business on the Retraction Date, the holder of the Retracted Shares shall not be entitled to exercise any of the rights of a holder in
respect thereof, other than the right to receive the NZ Exchangeable Share Consideration representing the total Retraction Price or total Purchase Price, as the case may be, unless upon presentation and surrender of certificates in accordance with
the foregoing provisions, payment of the NZ Exchangeable Share Consideration representing the total Retraction Price or the total Purchase Price, as the case may be, shall not be made, in which case the rights of such holder shall remain unaffected
until the NZ Exchangeable Share Consideration representing the total Retraction
Price or the total Purchase Price, as the case may be, has been paid in the manner hereinbefore provided. On and after the close of business on the Retraction Date, provided that presentation and surrender of certificates and payment of the total
Retraction Price or the total Purchase Price, as the case may be, has been made in accordance with the foregoing provisions, the holder of the Retracted Shares so redeemed by the Corporation or purchased by ParentCo shall thereafter be considered
and deemed for all purposes to be a holder of the Class A Shares delivered to it.</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 6.6 </B>&nbsp;&nbsp;Notwithstanding any other provision of this Article 6, the Corporation shall not be obligated to redeem Retracted Shares specified by a holder in a Retraction
Request to the extent that such redemption of Retracted Shares would be contrary to liquidity or solvency requirements or other provisions of applicable law. If the Corporation believes that on any Retraction Date it would not be permitted by any of
such provisions to redeem the Retracted Shares tendered for redemption on such date, and provided that ParentCo shall not have exercised the Retraction Call Right with respect to the Retracted Shares, the Corporation shall only be obligated to
redeem Retracted Shares specified by a holder in a Retraction Request to the extent of the maximum number that may be so redeemed (rounded down to a whole number of shares) as would not be contrary to such provisions and shall notify the holder at
least two Business Days prior to the Retraction Date as to the number of Retracted Shares which will not be redeemed by the Corporation. In any case in which the redemption by the Corporation of Retracted Shares would be contrary to liquidity or
solvency requirements or other provisions of applicable law, the Corporation shall redeem Retracted Shares in accordance with Section 6.2 of these share provisions on a pro rata basis in respect of NZ Exchangeable Shares to be redeemed on the
applicable Retraction Date, and shall issue on the Retraction Date to each holder of Retracted Shares a new certificate, at the expense of the Corporation, representing the Retracted Shares not redeemed by the Corporation pursuant to Section 6.2
hereof. Provided that the Retraction Request is not revoked by the holder in the manner specified in Section 6.7 hereof, the holder of any such Retracted Shares not redeemed by the Corporation pursuant to Section 6.2 of these share provisions as a
result of liquidity or solvency requirements or applicable law shall be deemed by giving the Retraction Request to require ParentCo to purchase such Retracted Shares from such holder on the Retraction Date or as soon as practicable thereafter on
payment by ParentCo to such holder of the NZ Exchangeable Share Consideration representing the Purchase Price for each such Retracted Share, all as more specifically provided in the Exchange Trust Agreement, and ParentCo shall make such
purchase.</FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 6.7 </B>&nbsp;&nbsp;A holder of Retracted Shares may, by notice in writing given by the holder to the </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Corporation before the
close of business on the Business Day immediately preceding the Retraction Date, withdraw its Retraction Request in which event such Retraction Request shall be null and void and, for greater certainty, the revocable offer constituted by the
Retraction Request to sell the Retracted Shares to ParentCo shall be deemed to have been revoked.</FONT></P>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 7
<BR>
<U>REDEMPTION OF EXCHANGEABLE SHARES BY THE CORPORATION</U></B></FONT></P>

<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 7.1</B> &nbsp;&nbsp;Subject to applicable law, and if ParentCo does not exercise the Redemption Call Right which, if exercised by ParentCo, shall be binding on the holders of NZ
Exchangeable Shares, the Corporation shall on the Automatic Redemption Date redeem the whole of the then
</FONT>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">outstanding NZ Exchangeable Shares for an amount equal to the NZ Exchangeable Share Price applicable on the last Business Day prior to the Automatic Redemption Date (the &quot;Redemption
Price&quot;), which as set forth in section 7.3 below, shall be fully paid and satisfied by delivery by or on behalf of the Corporation of the NZ Exchangeable Share Consideration representing the total Redemption Price. In connection with payment of
the NZ Exchangeable Share Consideration representing the Redemption Price, the Corporation shall be entitled to liquidate some of the Class A Shares which would otherwise be deliverable to the particular holder of NZ Exchangeable Shares in order to
fund any statutory withholding tax obligation.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 7.2</B>&nbsp;&nbsp; In any case of a redemption of NZ Exchangeable Shares under this Article 7, the Corporation shall, at least 30 days before the Automatic Redemption Date, send or
cause to be sent to each holder of NZ Exchangeable Shares a notice in writing of the redemption by the Corporation or the purchase by ParentCo under the Redemption Call Right, as the case may be, of the NZ Exchangeable Shares held by such holder.
Such notice shall set out the Automatic Redemption Date and, if applicable, particulars of the Redemption Call Right. Any failure by the Corporation to send any such notice in writing shall not affect the right of the Corporation to redeem the NZ
Exchangeable Shares on the Automatic Redemption Date.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 7.3</B> &nbsp;&nbsp;On the Automatic Redemption Date and subject to the exercise by ParentCo of the Redemption Call Right, and receipt by the Corporation of appropriate certificates
or other assurances in respect of applicable taxes related to the payment of the NZ Exchangeable Share Consideration, the Corporation shall cause to be delivered to the holders of the NZ Exchangeable Shares to be redeemed the NZ Exchangeable Share
Consideration representing the Redemption Price for each such NZ Exchangeable Share upon presentation and surrender at the registered office of the Corporation or at such other office in Ontario, Canada as may be specified by the Corporation in such
notice of the certificates representing such NZ Exchangeable Shares, together with such other documents and instruments as may be required to effect a transfer of NZ Exchangeable Shares under the Act and the by-laws of the Corporation and such
additional documents and instruments as the Corporation may reasonably require. The NZ Exchangeable Share Consideration representing the total Redemption Price for such NZ Exchangeable Shares shall be delivered to each holder, at the address of the
holder recorded in the securities register for the NZ Exchangeable Shares. On the Automatic Redemption Date, the holders of the NZ Exchangeable Shares called for redemption shall cease to be holders of such NZ Exchangeable Shares and shall not be
entitled to exercise any of the rights of holders in respect thereof, other than the right to receive their respective NZ Exchangeable Share Consideration unless payment of the NZ Exchangeable Share Consideration representing the total Redemption
Price for such NZ Exchangeable Shares shall not be made upon presentation and surrender of certificates in accordance with the foregoing provisions, in which case the rights of the holders shall remain unaffected until such NZ Exchangeable Share
Consideration has been paid in the manner hereinbefore provided. The Corporation shall have the right at any time after the automatic Redemption Date to deposit or cause to be deposited the NZ Exchangeable Share Consideration with respect to the NZ
Exchangeable Shares so called for redemption, or of such of the said NZ Exchangeable Shares represented by certificates that have not at the date of such deposit been surrendered by the holders thereof in connection with such redemption, in a
custodial account or for safe keeping, in the case of non-cash items, with any chartered bank or trust company in Canada named in such notice. Upon the later of such deposit being made and the Automatic Redemption Date, the NZ Exchangeable Shares in
respect whereof such deposit shall have been
made shall be redeemed and the rights of the holders thereof after such deposit or Automatic Redemption Date, as the case may be, shall be limited to receiving their respective NZ Exchangeable Share Consideration so deposited, against presentation
and surrender of the said certificates held by them, respectively, in accordance with the foregoing provisions. Upon such payment or deposit of such NZ Exchangeable Share Consideration, the holders of the NZ Exchangeable Shares shall thereafter be
considered and deemed for all purposes to be holders of the Class A Shares delivered to them.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 7.4 </B>&nbsp;&nbsp;If ParentCo exercises the Redemption Call Right, each holder of NZ Exchangeable Shares shall be obligated to sell all the NZ Exchangeable Shares held by the holder
to ParentCo on the Automatic Redemption Date on payment by ParentCo to the holder of the NZ Exchangeable Share Consideration representing the Redemption Call Purchase Price for each such share.</FONT></P>

<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 8
<BR>
<U>EXCHANGE PUT RIGHT</U></B></FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 8.1 </B>&nbsp;&nbsp;Upon and subject to the terms and conditions contained in these New Zealand Exchangeable Share Provisions and the Exchange Trust Agreement:</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="17"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a) </FONT></TD>
<TD WIDTH="10">&nbsp;&nbsp;</TD>
<TD WIDTH="945"><FONT FACE="Times New Roman, Times, serif" SIZE="2">a holder of NZ Exchangeable Shares shall have the right (the &quot;Exchange Put Right&quot;) at any time to require ParentCo to purchase all or any part of the NZ Exchangeable
Shares of the holder, subject to (i) the Transfer Restrictions, (ii) either the Corporation or ParentCo being subject to any trading 'blackout' or 'windows' period, and (iii) ParentCo determining, in its sole discretion, that the issuance of Class A
Shares in a public offering in the United States of America would be inadvisable at such time or during such period as a result of application of any United States federal or state regulation; and</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="17">&nbsp;</TD>
<TD WIDTH="10">&nbsp;</TD>
<TD WIDTH="945">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="17"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD WIDTH="10">&nbsp;</TD>
<TD WIDTH="945"><FONT FACE="Times New Roman, Times, serif" SIZE="2">upon the exercise by the holder of the Exchange Put Right, the holder shall be required to sell to ParentCo, and ParentCo shall be required to purchase from the holder, that number
of NZ Exchangeable Shares in respect of which the Exchange Put Right is exercised, in consideration of the payment by ParentCo of the NZ Exchangeable Share Price applicable thereto (which shall be the NZ Exchangeable Share Price applicable on the
Business Day following the receipt of the notice required under section 8.2 hereof), to be satisfied by delivery by or on behalf of ParentCo of the NZ Exchangeable Share Consideration.</FONT></TD>
</TR>
</TABLE>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 8.2 </B>&nbsp;&nbsp;The Exchange Put Right provided in Section 8.1 hereof and in Article VII of the Exchange Trust Agreement may be exercised at any time by notice in writing in the
form of Schedule B hereto or in such other form as may be acceptable to ParentCo (the &quot;Notice of Exercise of Exchange Put Right&quot;) given by the holder to and received by the Corporation (the date of such receipt, the &quot;Exchange Put
Date&quot;) accompanied by presentation and surrender of the certificates representing such NZ Exchangeable Shares, together with such documents and instruments as may be required to effect a transfer of NZ Exchangeable Shares under the Act and the
by-laws of the Corporation and such additional documents and instruments as the Corporation may reasonably require, at the registered office of the Corporation or at such other
</FONT>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">office in Ontario, Canada as may be specified by the Corporation. The Notice of Exercise of Exchange Put Right shall be irrevocable unless the exchange is not completed in accordance herewith
and shall constitute the holder's authorization to the Corporation (and such other persons aforesaid) to effect the exchange on behalf of the holder.</FONT></P>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 8.3 </B>&nbsp;&nbsp;The surrender by the holder of NZ Exchangeable Shares under section 8.2 shall constitute the representation, warranty and covenant of the holder that the NZ
Exchangeable Shares so purchased are sold free and clear of any lien, encumbrance, security interest or adverse claim or interest.</FONT></P>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 8.4 </B>&nbsp;&nbsp;If a part only of the NZ Exchangeable Shares represented by any certificate are to be sold and purchased pursuant to the exercise of the Exchange Put Right, a new
certificate for the balance of such NZ Exchangeable Shares shall be issued to the holder at the expense of the Corporation within ten Business Days of the exercise of the Exchange Put Right.</FONT></P>

<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 8.5 </B>&nbsp;&nbsp;Upon receipt by the Corporation of the notice, certificates and other documents or instruments required by section 8.2, and receipt by the Corporation of
appropriate certificates or other assurance in respect of applicable taxes related to the payment of the NZ Exchangeable Share Consideration, the Corporation shall deliver or cause to be delivered as soon as practicable but in no event later than
the fifth Business Day after the Exchange Put Date, on behalf of ParentCo and subject to receipt by the Corporation from ParentCo of the applicable NZ Exchangeable Share Consideration, to the relevant holder at the address of the holder specified in
the notice or by holding for pick-up by the holder at the registered office of the Corporation, or at such other office in Ontario, Canada as may be specified by the Corporation, the NZ Exchangeable Share Consideration. Delivery by ParentCo to the
Corporation and by the Corporation to the holder of such NZ Exchangeable Share Consideration shall be deemed to be payment of and shall satisfy and discharge all liability for the total applicable NZ Exchangeable Share Price, except as to any cheque
included therein which is not paid on due presentation.</FONT></P>
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 8.6</B> &nbsp;&nbsp;On and after the close of business on the day on which the NZ Exchangeable Share Consideration is delivered to the holder of NZ Exchangeable Shares in accordance
with Section 8.5, the holder of the NZ Exchangeable Shares in respect of which the Exchange Put Right is exercised shall not be entitled to exercise any of the rights of a holder in respect thereof, other than the right to receive the NZ
Exchangeable Share Consideration, unless upon presentation and surrender of certificates in accordance with the foregoing provisions, payment of such total price shall not be made, in which case the rights of such holder shall remain unaffected
until such payment has been made. On and after the close of business on the day on which the NZ Exchangeable Share Consideration is delivered to the holder of NZ Exchangeable Shares in accordance with Section 8.5, provided that presentation and
surrender of certificates and payment of such total price has been made in accordance with the foregoing provisions, the holder of the NZ Exchangeable Shares so purchased by ParentCo shall thereafter be considered and deemed for all purposes to be a
holder of the Class A Shares delivered to it.</FONT></P>

<P ALIGN="center"><B><FONT FACE="Times New Roman"></FONT></B></P>
<TD>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="center">
<TD COLSPAN="3"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">ARTICLE 9
<BR>
<U>VOTING RIGHTS</U></FONT></B></TD>
</TR>
<TR>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">Section 9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT FACE="Times New Roman, Times, serif" SIZE="2">Except as required by applicable law and by Articles 4
and 10 hereof, the holders of the NZ Exchangeable Shares shall not be entitled as such to receive notice of or to attend any meeting of the shareholders of the Corporation or to vote at any such meeting.</FONT></TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR ALIGN="center">
<TD COLSPAN="3"> <DIV ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>ARTICLE 10</B></FONT>
<BR>
<FONT FACE="Times New Roman, Times, serif" SIZE="2"><B><U>AMENDMENT AND APPROVAL</U></B></FONT> </DIV>
</TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The rights, privileges, restrictions and conditions attaching to the NZ Exchangeable Shares may be added to,
changed or removed but, except as hereinafter provided, only with the approval of the holders of the NZ Exchangeable Shares given as hereinafter specified.</FONT></TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Any approval given by the holders of the NZ Exchangeable Shares to add to, change or remove any right, privilege,
restriction or condition attaching to the NZ Exchangeable Shares or any other matter requiring the approval or consent of the holders of the NZ Exchangeable Shares shall be deemed to have been sufficiently given if it shall have been given in
accordance with applicable law subject to a minimum requirement that such approval be evidenced by resolution passed by not less than 90% of the votes cast on such resolution by persons represented in person or by proxy at a meeting of holders of NZ
Exchangeable Shares duly called and held at which the holders of at least 85% of the outstanding NZ Exchangeable Shares at that time are present or represented by proxy (excluding NZ Exchangeable Shares beneficially owned by ParentCo or its
Subsidiaries). If at any such meeting the holders of at least 85% of the outstanding NZ Exchangeable Shares at that time are not present or represented by proxy within one-half hour after the time appointed for such meeting then the meeting shall be
adjourned to such date not less than 24 hours thereafter and to such time and place as may be designated by the Chairman of such meeting. At such adjourned meeting the holders of NZ Exchangeable Shares present or represented by proxy thereat may
transact the business for which the meeting was originally called and a resolution passed thereat by the affirmative vote of not less than 90% of the votes cast on such resolution by persons represented in person or by proxy at such meeting shall
constitute the approval or consent of the holders of the NZ Exchangeable Shares. For the purposes of this section, any spoiled votes, illegible votes, defective votes and abstentions shall be deemed to be votes not cast.</FONT></TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR ALIGN="center">
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>ARTICLE 11
<BR>
<U>RECIPROCAL CHANGES, ETC. IN RESPECT OF</U>
<BR>
<U>CLASS A SHARES</U></B></FONT></TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 11.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Notwithstanding the provisions of Article 10, the NZ Exchangeable Shares shall be automatically adjusted to fully
reflect the effect of any stock split, subdivision, combination, reverse split, stock dividend (including any dividend or distribution of securities convertible into Class A Shares), reclassification, reorganization, recapitalization or other like
change with respect to Class A Stock occurring after the Effective Date.</FONT></TD>
</TR>
</TABLE>

<P></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="center">
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>ARTICLE 12
<BR>
<U>ACTIONS BY THE CORPORATION UNDER</U>
<BR>
<U>SUPPORT AGREEMENT</U></B></FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 12.1 </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Corporation will take all such actions and do all such things as shall be necessary or advisable to perform
and comply with and to ensure performance and compliance by ParentCo with all provisions of the Support Agreement and the Exchange Trust Agreement in accordance with the terms thereof including, without limitation, taking all such actions and doing
all such things as shall be necessary or advisable to enforce to the fullest extent possible for the direct benefit of the Corporation or the holders of the NZ Exchangeable Shares all rights and benefits in favour of the Corporation or the holders
of the NZ Exchangeable Shares under or pursuant thereto.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp; </TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 12.2 </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Corporation shall not propose, agree to or otherwise give effect to any amendment to, or waive or forgive its
rights or obligations under, the Support Agreement or the Exchange Trust Agreement without the approval of the holders of the NZ Exchangeable Shares given in accordance with Section 10.1 of these share provisions other than such amendments, waivers
and/or forgiveness as may be necessary or advisable for the purpose of:</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(a)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">adding to the covenants of the other party or parties to such agreement for the protection of the Corporation or the holders of NZ Exchangeable Shares; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(b)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">making such provisions or modifications not inconsistent with such agreement or certificate as may be necessary or desirable with respect to matters or questions arising thereunder
which, in the opinion of the Board of Directors, it may be expedient to make, provided that the Board of Directors shall be of the opinion, after consultation with counsel, that such provisions and modifications will not be prejudicial to the
interests of the holders of the NZ Exchangeable Shares; or</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(c)</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">making such changes in or corrections to such agreement or certificate which, on the advice of counsel to the Corporation, are required for the purpose of curing or correcting any
ambiguity or defect or inconsistent provision or clerical omission or mistake or manifest error contained therein, provided that the Board of Directors shall be of the opinion, after consultation with counsel, that such changes or corrections will
not be prejudicial to the interest of the holders of the NZ Exchangeable Shares.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR ALIGN="center">
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>ARTICLE 13
<BR>
<U>LEGEND</U></B></FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Section 13.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The certificates evidencing the NZ Exchangeable Shares shall contain or have affixed thereto a legend, in form and
on terms approved by the Board of Directors, with respect to the Support Agreement, the Liquidation Call Right and the Redemption Call Right, and the Exchange Trust Agreement (including the provisions with respect to the voting rights, exchange
right and automatic exchange thereunder).</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
</TABLE>

<P></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="center">
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>ARTICLE 14
<BR>
<U>MISCELLANEOUS</U></B></FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 14.1 </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any notice, request or other communication to be given to the Corporation by a holder of NZ Exchangeable Shares shall
be in writing and shall be valid and effective if given by mail (postage prepaid) or by telecopy or by delivery to the registered office of the Corporation and addressed to the attention of the President. Any such notice, request or other
communication, if given by mail, telecopy or delivery, shall only be deemed to have been given and received upon actual receipt thereof by the Corporation.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 14.2 </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any presentation and surrender by a holder of NZ Exchangeable Shares to the Corporation of certificates representing NZ
Exchangeable Shares in connection with the liquidation, dissolution or winding-up of the Corporation or the retraction or redemption of NZ Exchangeable Shares shall be made by registered mail (postage prepaid) or by delivery to the registered office
of the Corporation or to such other office in Ontario, Canada as may be specified by the Corporation, in each case addressed to the attention of the President of the Corporation. Any such presentation and surrender of certificates shall only be
deemed to have been made and to be effective upon actual receipt thereof by the Corporation and the method of any such presentation and surrender of certificates shall be at the sole risk of the holder.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 14.3</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any notice, request or other communication to be given to a holder of NZ Exchangeable Shares by or on behalf of
the Corporation shall be in writing and shall be valid and<B> </B>effective if given by mail (postage prepaid) or by delivery to the address of the holder recorded in the securities register of the Corporation or, in the event of the address of any
such holder not being so recorded, then at the last known address of such holder. Any such notice, request or other communication, if given by mail, shall be deemed to have been given and received on the fifth Business Day following the date of
mailing and, if given by delivery, shall be deemed to have been given and received on the date of delivery. Accidental failure or omission to give any notice, request or other communication to one or more holders of NZ Exchangeable Shares shall not
invalidate or otherwise alter or affect any action or proceeding to be or intended to be taken by the Corporation.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 14.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>For greater certainty, the Corporation shall not be required for any purpose under these share provisions to
recognize or take account of persons who are not so recorded in such securities register.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>Section 14.5 </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All NZ Exchangeable Shares acquired by the Corporation upon the redemption or retraction thereof shall be
cancelled.</FONT></TD>
</TR>
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="96%">&nbsp;</TD>
</TR>
</TABLE>
<FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U></U></B></FONT>
<P></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="center">
<TD COLSPAN="3">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>SCHEDULE A</U></B></FONT></P>

<P></P>
</TD>
</TR>
<TR ALIGN="center">
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B> </B></FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>RETRACTION REQUEST</B></FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">To:</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Accenture Canada Holdings Inc. (the &quot;Corporation&quot;)
<BR>
Accenture Ltd (&quot;Accenture&quot;)</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This notice is given pursuant to Article 6 of the provisions (the &quot;Share Provisions&quot;)
attaching to the NZ Exchangeable Shares of the Corporation represented by the enclosed certificate and all capitalized words and expressions used in this notice which are defined in the Share Provisions have the meaning attributed to such words and
expressions in such Share Provisions.</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby notifies the Corporation that, subject to the Retraction Call Right
referred to below, the undersigned desires to have the Corporation redeem in accordance with Article 6 of the Share Provisions:</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%"><FONT FACE="Wingdings">o</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> all share(s) represented by the certificate(s) accompanying this notice; or</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%"><FONT FACE="Wingdings">o</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> ___________________________ share(s) only.</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The undersigned hereby notifies the Corporation that the Retraction Date shall be ___________________________.</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">NOTE:</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Retraction Date must be a Business Day and must not be less than 5 Business Days nor more than 10 Business Days, or such other number of days as the Corporation may agree, after the
date upon which this notice is received by the Corporation. In the event that no such Business Day is correctly specified above, the Retraction Date shall be deemed to be the fifth Business Day after the date on which this notice is received by the
Corporation.</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned acknowledges the Retraction Call Right of Accenture to purchase all but not less than
all of the Retracted Shares from the undersigned and that notice shall be deemed to be a revocable offer by the undersigned to sell the Retracted Shares to Accenture in accordance with the Retraction Call Right on the Retraction Date for the
Retraction Price and on the other terms and conditions set out in Section 6.3 of the Share Provisions. If Accenture determines not to exercise the Retraction Call Right, the Corporation will notify the undersigned of such act as soon as possible.
This notice of retraction, and offer to sell the Retracted Shares to Accenture, may be revoked and withdrawn by the undersigned by notice in writing given to the Corporation at any time before the close of business on the Business Date immediately
preceding the Retraction Date.</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned acknowledges that if, as a result of liquidity or solvency provisions of applicable
law, the Corporation is unable to redeem all Retracted Shares, the undersigned will be deemed, subject to revoking this notice in accordance with the Share Provisions, to have exercised the Exchange Right (as defined in the Exchange Trust Agreement)
so as to require Accenture to purchase the unredeemed Retracted Shares.</FONT></TD>
</TR>
</TABLE>

<P></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD COLSPAN="5"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby represents and warrants to the Corporation and Accenture that the
undersigned has good title to, and owns, the NZ Exchangeable Share(s) that are the subject of this notice and are to be acquired by the Corporation or Accenture, as the case may be, free and clear of all Transfer Restrictions, liens, claims,
encumbrances, security interests and adverse claims or interests.</FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%"><FONT FACE="Wingdings">o</FONT></TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Please check box if the legal or beneficial owner of the Retracted Shares is a non-resident of Canada.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%"><FONT FACE="Wingdings">o</FONT></TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Please check box if the securities and any cheque(s) or other non-cash assets resulting from the retraction of the Retracted Shares are to be held for pick-up by the shareholder at
the registered office of the Corporation, failing which the securities and any cheque(s) or other non-cash assets will be delivered to the shareholder in accordance with the Share Provisions.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Name of Person in Whose Name Securities
<BR>
or Cheque(s) or Other Non-cash Assets Are
<BR>
To Be Registered, Issued or Delivered (please print)</FONT> </TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="54%"> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT SIZE="2" FACE="Times New Roman, Times, serif"> Date</FONT></TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="54%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="54%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Street Address or P.O. Box</FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="54%"> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Signature of Shareholder</FONT></TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="54%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="54%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">City, Province, Country</FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="54%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
</TABLE>

<BR>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">NOTE: </FONT></TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="92%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">This notice must be completed and the certificate(s) representing the NZ Exchangeable Shares which are the subject of this notice, together with such additional
documents as the Corporation may require, must be deposited with the Corporation at its head office. The securities and any cheque(s) or other non-cash assets resulting from the retraction or purchase of the Retracted Shares will be issued and
registered in, and made payable to, or transferred into, respectively, the name of the shareholder as it appears on the register of the Corporation and the securities, cheque(s) and other non-cash assets resulting from such retraction or purchase
will be delivered to the shareholder in accordance with the Share Provisions.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="92%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">NOTE:</FONT></TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="92%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If the notice of retraction is for less than all of the share(s) represented by the certificate(s) submitted with this notice, a certificate representing the remaining
shares of the Corporation will be issued and registered in the name of the shareholder as it appears on the register of the Corporation.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="92%">&nbsp;</TD>
</TR>
</TABLE>
<FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U></U></B></FONT>
<P></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="center">
<TD COLSPAN="3">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><U>SCHEDULE B </U></B></FONT></P>
</TD>
</TR>
<TR ALIGN="center">
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="center">
<TD COLSPAN="3"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B> </B></FONT><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B>NOTICE OF EXERCISE OF EXCHANGE PUT RIGHT</B></FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">To:</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Accenture Ltd (&quot;Accenture&quot;)
<BR>
Accenture Canada Holdings Inc. (the &quot;Corporation&quot;) </FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This notice is given pursuant to Article 8 of the provisions (the &quot;Share Provisions&quot;)
attaching to the NZ Exchangeable Shares of the Corporation represented by the enclosed certificate and all capitalized words and expressions used in this notice which are defined in the </FONT><FONT FACE="Times New Roman, Times, serif"
SIZE="2">Share Provisions have the meaning attributed to such words and expressions in such Share Provisions.</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby notifies Accenture that the undersigned desires to exercise the Exchange
Put Right in accordance with Article 8 of the Share Provisions with respect to:</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%"><FONT FACE="Wingdings">o</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> all share(s) represented by the certificate(s) accompanying this notice; or</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%"><FONT FACE="Wingdings">o</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> _________________ share(s) only.</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby represents and warrants to Accenture that the undersigned has good title
to, and owns, the share(s) that are the subject of this notice and are to be acquired by Accenture free and clear of all Transfer Restrictions, liens, claims, encumbrances, security interests and adverse claims or interests.</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%"><FONT FACE="Wingdings">o</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Please check box if the legal or beneficial owner of the NZ Exchangeable Shares is a non-resident of Canada.</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%" VALIGN="top"><FONT FACE="Wingdings">o</FONT></TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Please check box if the securities and any cheque(s) or other non-cash assets resulting from the exchange of the NZ Exchangeable Shares are to be held for pick-up by the shareholder
at the registered office of the Corporation, failing which the securities and any cheque(s) or other non-cash assets will delivered to the shareholder in accordance with the Share Provisions.</FONT></TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="93%">&nbsp;</TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD COLSPAN="3"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Name of Person in Whose Name Securities
<BR>
or Cheque(s) or Other Non-cash Assets Are
<BR>
To Be Registered, Issued or Delivered (please print)</FONT> </TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="54%"> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT SIZE="2" FACE="Times New Roman, Times, serif"> Date</FONT></TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="54%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="54%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Street Address or P.O. Box</FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="54%"> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Signature of Shareholder</FONT></TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="54%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="54%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD COLSPAN="3"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">City, Province, Country</FONT></TD>
<TD WIDTH="4%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
<TD WIDTH="54%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"></FONT></TD>
</TR>
</TABLE>

<BR>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">NOTE: </FONT></TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="92%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">This notice must be completed and the certificate(s) representing the NZ Exchangeable Shares which are the subject of this notice, together with such additional
documents as the Corporation may require, must be deposited with the Corporation at its head office. The securities and any cheque(s) or other non-cash assets resulting from the exchange of the NZ Exchangeable Shares will be issued and registered
in, and made payable to, or transferred into, respectively, the name of the shareholder as it appears on the register of the Corporation and the securities, cheque(s) and other non-cash assets resulting from such exchange will be delivered to the
shareholder in accordance with the Share Provisions.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="92%">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">NOTE:</FONT></TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="92%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">If the notice of exercise of Exchange Put Right is for less than all of the share(s) represented by the certificate(s) submitted with this notice, a certificate
representing the remaining shares of the Corporation will be issued and registered in the name of the shareholder as it appears on the register of the Corporation.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="92%">&nbsp;</TD>
</TR>
</TABLE>

<P> </P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="4%" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">5.</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> The amendment has been duly authorized as required by Sections 168 &amp; 170 (as applicable) of the Business Corporations Act.</FONT></TD>
<TD WIDTH="44%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><I>La modification a &#233;t&#233; d&#251;ment autoris&#233;e conformement aux articles 168 et 170 (selon le cas) de la Loi sur les soci&#233;t&#233;s par actions.</I></FONT></TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="44%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="4%" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif">6.</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="top"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> The resolution authorizing the amendment was approved by the shareholders/directors (as applicable) of the corporation on </FONT></TD>
<TD WIDTH="44%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><I>Les actionnaires ou les administrateurs (selon le cas) de la soci&#233;t&#233; ont approuv&#233; la r&#233;solution autorisant la modification le</I></FONT></TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="center">
<TD COLSPAN="5"> <FONT SIZE="2" FACE="Times New Roman, Times, serif">2001/05/30</FONT> <HR NOSHADE ALIGN="center" WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">
<P ALIGN="center">&nbsp;</P>
</TD>
<TD COLSPAN="3" ALIGN="center">
<P><FONT SIZE="2" FACE="Times New Roman, Times, serif">(Year, Month, Day)
<BR>
<I>(ann&#233;e, mois, jour)</I></FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="44%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2"><FONT SIZE="2" FACE="Times New Roman, Times, serif">These articles are signed in duplicate. </FONT></TD>
<TD WIDTH="44%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><I>Les pr&#233;sents status sont sign&#233;s en double exemplaire.</I></FONT></TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="44%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="44%"> <DIV ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">ACCENTURE CANADA HOLDINGS INC.</FONT> <HR NOSHADE ALIGN="center" WIDTH="100%" SIZE="1"> </DIV>
</TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="44%">
<P ALIGN="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(Name of Corporation)
<BR>
<I>(Denomination sociale de la soci&#233;t&#233;)</I></FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="44%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="34%">&nbsp;</TD>
<TD WIDTH="17%"> <DIV ALIGN="right"><FONT SIZE="2" FACE="Times New Roman, Times, serif">By: /Par:</FONT></DIV>
</TD>
<TD WIDTH="44%"><FONT SIZE="2" FACE="Times New Roman, Times, serif"> &nbsp;/s/ [ILLEGIBLE] &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT> <HR NOSHADE ALIGN="center" WIDTH="100%"
SIZE="1"> </TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="44%"><FONT SIZE="2" FACE="Times New Roman, Times, serif">(Signature) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Description of Office)
<BR>
<I>(Signature) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Fonction) </I> </FONT></TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="44%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="1%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
<TD WIDTH="44%">&nbsp;</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>9
<FILENAME>dex1012.htm
<DESCRIPTION>EXCHANGE SHARE TRUST AGREEMENT
<TEXT>

<HTML>
<HEAD>
 <TITLE>EXCHANGE SHARE TRUST AGREEMENT</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">

<P ALIGN="right"><FONT FACE="Times New Roman" SIZE="2">Exhibit 10.12</FONT></P>
<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="2">EXCHANGE TRUST AGREEMENT</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="2">BETWEEN</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="2">ACCENTURE LTD</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="2">AND</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="2">ACCENTURE CANADA HOLDINGS INC.</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="2">AND</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="2">CIBC MELLON TRUST COMPANY</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="2">MADE AS OF</FONT></B></P>

<P ALIGN="CENTER"><B><FONT FACE="Times New Roman" SIZE="2">May 23, 2001</FONT></B></P>

<P ALIGN="CENTER"> </P>
<P ALIGN="left"></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B></B></FONT></P>
<P ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EXCHANGE TRUST AGREEMENT</B></FONT></P>
<P><FONT FACE="Times New Roman" SIZE="2"><B> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS EXCHANGE TRUST AGREEMENT</B> is entered into as of May 23, 2001, by and
between ACCENTURE LTD, an exempted company registered under the laws of Bermuda (&#147;ParentCo&#148;), and ACCENTURE CANADA HOLDINGS INC., a corporation incorporated under the laws of Ontario (the &#147;Corporation&#148;), and CIBC MELLON TRUST
COMPANY, a Canadian trust company (&#147;Trustee&#148;).</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS</B> pursuant to a reorganization of the capital structure of the
Corporation (the &#147;Reorganization&#148;) the Corporation created a new class of preferred shares (the &#147;Exchangeable Shares&#148;) having the rights, privileges, restrictions and conditions attached hereto as Schedule &#147;A&#148;
(collectively, the &#147;Exchangeable Share Provisions&#148;);</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS</B> the parties desire to make appropriate provision and to establish a
procedure whereby holders of Exchangeable Shares may exchange their Exchangeable Shares for Class A Shares by and through the Trustee and whereby the rights to require ParentCo or, at the option of ParentCo, ParentCo Sub (as hereinafter defined) to
purchase Exchangeable Shares from the holders thereof (other than ParentCo and its Subsidiaries) shall be exercisable by such holders of Exchangeable Shares by and through the Trustee, who will hold the covenant of ParentCo to purchase the
Exchangeable Shares for the benefit of such holders;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS</B>, these recitals and any statements of fact in this agreement are
made by ParentCo and the Corporation and not by the Trustee;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE</B>, in consideration of the respective covenants and agreements
provided in this agreement and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties agree as follows:</FONT></P>

<P ALIGN="CENTER"><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 1 - DEFINITIONS AND INTERPRETATION</FONT></U></B></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">1.1</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT FACE="Times New Roman" SIZE="2">Definitions.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>In this agreement, the following terms shall have the following
meanings:</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Authorized Investment&#148;</B> means short term interest bearing or discount debt obligations issued or guaranteed by the Government of Canada or a province or a Canadian Chartered Bank (which may
include an affiliate of the Trustee) provided that each such obligation is rated at least R1 (middle) by DBRS Inc. or an equivalent rating by Canadian Bond Rating Services;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Automatic Exchange Rights&#148; </B>means the obligation of ParentCo to effect the automatic exchange of Class A Shares for Exchangeable Shares pursuant to Section 3.11 hereof;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Board of Directors&#148;</B> means the Board of Directors of the Corporation;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Business Day&#148;</B> has the meaning provided in the Exchangeable Share Provisions;</FONT></P>

<P></P>
<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Class A Share&#148;</B> has the meaning provided in the Exchangeable Share Provisions; </FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Exchange Put Right&#148;</B> has the meaning provided in the Exchangeable Share Provisions;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Exchange Right&#148;</B> has the meaning provided in Section 3.1(b) hereof;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Exchangeable Share Consideration&#148;</B> has the meaning provided in the Exchangeable Share Provisions;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Exchangeable Share Price&#148;</B> has the meaning provided in the Exchangeable Share Provisions;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Exchangeable Share Provisions&#148;</B> has the meaning provided in the recitals hereto;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Exchangeable Shares&#148;</B> has the meaning provided in the recitals hereto;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Holders&#148;</B> means the registered holders from time to time of Exchangeable Shares, other than ParentCo and its Subsidiaries;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Insolvency Event&#148;</B> means the institution by the Corporation of any proceeding to be adjudicated a bankrupt or insolvent or to be dissolved or wound-up, or the consent of the Corporation to
the institution of bankruptcy, insolvency, dissolution or winding-up proceedings against it, or the filing of a petition, answer or consent seeking dissolution or winding-up under any bankruptcy, insolvency or analogous laws, including without
limitation the <I>Companies Creditors' Arrangement Act </I>(Canada) and the <I>Bankruptcy and Insolvency Act</I> (Canada), and the failure by the Corporation to contest in good faith any such proceedings commenced in respect of the Corporation
within 15 days of becoming aware thereof, or the consent by the Corporation to the filing of any such petition or to the appointment of a receiver, or the making by the Corporation of a general assignment for the benefit of creditors, or the
admission in writing by the Corporation of its inability to pay its debts generally as they become due, or the Corporation's not being permitted, pursuant to liquidity or solvency requirements of applicable law, to redeem any Retracted Shares
pursuant to Section 6.6 of the Exchangeable Share Provisions;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Liquidation Call Right&#148;</B> has the meaning provided in the Exchangeable Share Provisions;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Liquidation Event&#148;</B> has the meaning provided in subsection 3.12(b) hereof;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Liquidation Event Effective Time&#148;</B> has the meaning provided in subsection 3.12(c) hereof;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Officer's Certificate&#148;</B> means, with respect to ParentCo or the Corporation, as the case may be, a certificate signed by any one of the Chairman of the Board, the Vice-Chairman of the Board
(if there be one), the President, Managing Partner or any Vice-President or other similarly senior officer of ParentCo or the Corporation, as the case may be;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;ParentCo Sub&#148;</B> means any Subsidiary of ParentCo incorporated under the <I>Business Corporations Act</I> (Ontario)<I> </I>for the purpose of delivering Class A Shares as provided in this
agreement, the Exchangeable Share Provisions or the Support Agreement;</FONT></P>

<P></P>
<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Successor&#148;</B> has the meaning provided in Section 8.1 hereof;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Person&#148;</B> includes an individual, body corporate, partnership, company, unincorporated syndicate or organization, trust, trustee, executor, administrator and other legal
representative;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Redemption Call Right&#148;</B> has the meaning provided in the Exchangeable Share Provisions;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Reorganization&#148;</B> has the meaning provided in the recitals hereto;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Retracted Shares&#148;</B> has the meaning provided in Section 3.7 hereof;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Retraction Call Right&#148;</B> has the meaning provided in the Exchangeable Share Provisions;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Subsidiary&#148;</B> has the meaning provided in the Exchangeable Share Provisions;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Support Agreement&#148;</B> means that certain support agreement made as of the date hereof by and between ParentCo and the Corporation;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Trust&#148;</B> means the trust created by this agreement;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Trust Estate&#148;</B> means the Exchange Right, the Automatic Exchange Rights and any money or other property which may be held by the Trustee from time to time pursuant to this agreement;</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;Trustee&#148;</B> means CIBC Mellon Trust Company and, subject to the provisions of Article 7 hereof, includes any successor trustee or permitted assigns; and</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&#147;US$&#148; </B>means the lawful currency of the United States of America.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">1.2</FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</B><U><FONT FACE="Times New Roman" SIZE="2">Integration Not Affected by Headings, Etc.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The division of this agreement into articles, sections and paragraphs and the
insertion of headings are for convenience of reference only and shall not affect the construction or interpretation of this agreement.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">1.3</FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><U><FONT FACE="Times New Roman" SIZE="2">Number, Gender, Etc.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Words importing the singular number only shall include the plural and vice versa.
Words importing the use of any gender shall include all genders.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">1.4</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U><FONT FACE="Times New Roman" SIZE="2">Date for Any Action.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>If any date on which any action is required to be taken under this agreement is
not a Business Day, such action shall be required to be taken on the next succeeding Business Day.</FONT></P>

<P></P>
<P><B><FONT FACE="Times New Roman Bold" SIZE="2">1.5</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;<U><FONT FACE="Times New Roman" SIZE="2">Exhibits and Schedules.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The following are the Exhibits and Schedules annexed hereto and
incorporated by reference in this agreement:</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedule A - Exchangeable Share Provisions; and
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT FACE="Times New Roman" SIZE="2">Schedule B - Support Agreement.</FONT> </P>

<P ALIGN="CENTER"><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 2 - PURPOSE OF AGREEMENT</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purpose of this agreement is to create the Trust for the benefit of the Holders, as
herein provided. The Trustee will hold the Exchange Right, the Exchange&nbsp;</FONT><FONT FACE="Times New Roman" SIZE="2">Put Right and the Automatic Exchange Rights in order to enable the Trustee to exercise such rights, in each case as trustee for
and on behalf of the Holders as provided in this agreement.</FONT></P>
<P ALIGN="CENTER"><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 3 - EXCHANGE RIGHT AND AUTOMATIC EXCHANGE</FONT></U></B></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">3.1</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT FACE="Times New Roman" SIZE="2">Grant and Ownership of the Exchange Right.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>ParentCo hereby grants to the Trustee as trustee for and on behalf of, and
for the use and benefit of, the Holders:</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="2" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">the Exchange Put Right,</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="89%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="2" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">the right (the &#147;Exchange Right&#148;), upon the occurrence and during the continuance of an Insolvency Event, to require ParentCo to purchase or to cause ParentCo Sub to purchase
from each or any Holder all or any part of the Exchangeable Shares held by the Holders, and</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="89%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="2" WIDTH="89%">
<P><FONT FACE="Times New Roman" SIZE="2">the Automatic Exchange Rights,</FONT></P>
</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2">all in accordance with the provisions of this agreement and the Exchangeable Share Provisions, as the case may be. ParentCo hereby acknowledges receipt from the Trustee as trustee for and on behalf of the
Holders of good and valuable consideration (and the sufficiency and adequacy thereof) for the grant of the Exchange Put Right, the Exchange Right and the Automatic Exchange Rights by ParentCo to the Trustee. During the term of the Trust and subject
to the terms and conditions of this agreement, the Trustee shall possess and be vested with full legal ownership of the Exchange Put Right, the Exchange Right and the Automatic Exchange Rights and shall be entitled to exercise and enforce for the
benefit of the Holders all of the rights and powers of an owner with respect to the Exchange Put Right, the Exchange Right and the Automatic Exchange Rights, provided that the Trustee shall:</FONT></P>

<P></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(d)</FONT></TD>
<TD COLSPAN="2" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">hold the Exchange Put Right, the Exchange Right and the Automatic Exchange Rights and the legal title thereto as trustee solely for the use and benefit of the Holders in accordance
with the provisions of this agreement; and</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="89%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(e)</FONT></TD>
<TD COLSPAN="2" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">except as specifically authorized by this agreement, have no power or authority to exercise or otherwise deal in or with the Exchange Put Right, the Exchange Right or the Automatic
Exchange Rights, and the Trustee shall not exercise any such rights for any purpose other than the purposes for which this Trust is created pursuant to this agreement.</FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2"> </FONT><B><FONT FACE="Times New Roman Bold" SIZE="2">3.2</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U><FONT FACE="Times New Roman" SIZE="2">Legended Share
Certificates.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Corporation will cause each certificate representing Exchangeable
Shares to bear an appropriate legend notifying the Holders of:</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="2" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">their right to instruct the Trustee with respect to the exercise of the Exchange Put Right and the Exchange Right in respect of the Exchangeable Shares held by a Holder;
and</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="89%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="2" WIDTH="89%">
<P><FONT FACE="Times New Roman" SIZE="2">the Automatic Exchange Rights.</FONT></P>
</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2"> </FONT><B><FONT FACE="Times New Roman Bold" SIZE="2">3.3</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT FACE="Times New Roman" SIZE="2">General Exercise of
Exchange Put Right and Exchange.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Exchange Put Right and the Exchange Right shall be and remain vested in
and exercised by the Trustee. Subject to Section 4.15 hereof, the Trustee shall exercise the Exchange Put Right and the Exchange Right only on the basis of instructions received pursuant to this Article 3 from Holders entitled to instruct the
Trustee as to the exercise thereof. To the extent that no instructions are received from a Holder with respect to the Exchange Put Right and the Exchange Right, the Trustee shall not exercise or permit the exercise of the Exchange Put Right and the
Exchange Right.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">3.4</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT FACE="Times New Roman" SIZE="2">Purchase Price.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The purchase price payable by ParentCo or ParentCo Sub for each
Exchangeable Share to be purchased by ParentCo or ParentCo Sub (a) under the Exchange Put Right shall be the amount determined under the Exchangeable Share Provisions, and (b) under the Exchange Right shall be an amount equal to the Exchangeable
Share Price on the last Business Day prior to the day of closing of the purchase and sale of such Exchangeable Share under the Exchange Right. In connection with each exercise of the Exchange Right, ParentCo will provide to the Trustee an Officer's
Certificate setting forth the calculation of the applicable Exchangeable Share Price for each Exchangeable Share. The applicable Exchangeable Share Price for each such Exchangeable Share so purchased may be satisfied only by ParentCo or ParentCo
Subsidiary delivering or causing to be delivered to the Trustee, on behalf of the relevant Holder, the applicable Exchangeable Share Consideration representing the total applicable Exchangeable Share Price. </FONT></P>

<P></P>
<P><B><FONT FACE="Times New Roman Bold" SIZE="2">3.5</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT FACE="Times New Roman" SIZE="2">Exercise Instructions.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Subject to the terms and conditions herein set forth, a Holder shall be
entitled, upon the occurrence and during the continuance of an Insolvency Event, to instruct the Trustee to exercise the Exchange Right with respect to all or any part of the Exchangeable Shares registered in the name of such Holder on the books of
the Corporation. To cause the exercise of the Exchange Right by the Trustee, the Holder shall deliver to the Trustee, in person or by certified or registered mail, at its principal transfer office in Toronto, Ontario or at such other places in
Canada as the Trustee may from time to time designate by written notice to the Holders, the certificates representing the Exchangeable Shares which such Holder desires ParentCo to purchase, duly endorsed in blank, and accompanied by such other
documents and instruments as may be required to effect a transfer of Exchangeable Shares under the <I>Business Corporations Act</I> (Ontario) and the by-laws of the Corporation and such additional documents and instruments as the Trustee may
reasonably require, together with:</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">a duly completed form of notice of exercise of the Exchange Right, contained on the reverse of or attached to the Exchangeable Share certificates, stating:</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(i)</FONT></TD>
<TD WIDTH="85%">
<P><FONT FACE="Times New Roman" SIZE="2">that the Holder thereby instructs the Trustee to exercise the Exchange Right so as to require ParentCo to purchase from the Holder the number of Exchangeable Shares specified therein,</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="85%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(ii)</FONT></TD>
<TD WIDTH="85%"><FONT FACE="Times New Roman" SIZE="2">that such Holder has good title to and owns all such Exchangeable Share to be acquired by ParentCo free and clear of all liens, claims, encumbrances, security interests and adverse claims or
interests,</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="85%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(iii)</FONT></TD>
<TD WIDTH="85%">
<P><FONT FACE="Times New Roman" SIZE="2">the names in which the Class A Shares issuable in connection with the exercise of the Exchange Right are to be issued, and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="85%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(iv)</FONT></TD>
<TD WIDTH="85%">
<P><FONT FACE="Times New Roman" SIZE="2">the names and addresses of the persons to whom the Exchangeable Share Consideration should be delivered; and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="85%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="2">
<P><FONT FACE="Times New Roman" SIZE="2">payment (or evidence satisfactory to the Trustee, the Corporation and ParentCo of payment) of the taxes (if any) payable as contemplated by Section 3.8 of this agreement.</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>If only a part of the Exchangeable Shares represented by any certificate or
certificates delivered to the Trustee are to be purchased by ParentCo or ParentCo Sub under the Exchange Right, the Corporation shall issue a new certificate for the balance of such Exchangeable Shares to the Holder at the expense of the
Corporation.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">3.6</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;<U><FONT FACE="Times New Roman" SIZE="2">Delivery of Exchangeable Share Consideration; Effect of
Exercise.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Promptly after receipt of the certificates representing the Exchangeable
Shares which the Holder desires ParentCo to purchase under the Exchange Put Right or the Exchange Right </FONT></P>

<P></P>
<P><FONT FACE="Times New Roman" SIZE="2">(together with such documents and instruments of transfer and a duly completed form of notice of exercise of the Exchange Put Right or the Exchange Right), duly endorsed for transfer to ParentCo, the Trustee
shall notify ParentCo and the Corporation of its receipt of the same, which notice to ParentCo and the Corporation shall constitute exercise of the Exchange Put Right or the Exchange Right by the Trustee on behalf of the Holder of such Exchangeable
Shares, and ParentCo shall immediately thereafter deliver or cause ParentCo Sub to deliver to the Trustee, for delivery to the Holder of such Exchangeable Shares (or to such other persons, if any, properly designated by such Holder), the
Exchangeable Share Consideration deliverable in connection with the exercise of the Exchange Put Right or the Exchange Right; provided, however, that no such delivery shall be made unless and until the Holder requesting the same shall have paid (or
provided evidence satisfactory to the Trustee, the Corporation and ParentCo of the payment of) the taxes (if any) payable as contemplated by Section 3.8 of this agreement. Immediately upon the giving of notice by the Trustee to ParentCo and the
Corporation of the exercise of the Exchange Put Right or the Exchange Right, as provided in this Section 3.6, the closing of the transaction of purchase and sale contemplated by the Exchange Put Right or the Exchange Right shall be deemed to have
occurred, and the Holder of such Exchangeable Shares shall be deemed to have transferred to ParentCo (or at ParentCo's option, to ParentCo Sub) all of its right, title and interest in and to such Exchangeable Shares and the related interest in the
Trust Estate, shall cease to be a holder of such Exchangeable Shares and shall not be entitled to exercise any of the rights of a holder in respect thereof, other than the right to receive his proportionate part of the total purchase price therefor,
unless such Exchangeable Share Consideration is not delivered by ParentCo or ParentCo Sub to the Trustee, for delivery to such Holder (or to such other persons, if any, properly designated by such Holder), within five Business Days of the date of
the giving of such notice by the Trustee, in which case the rights of the Holder shall remain unaffected until such Exchangeable Share Consideration is delivered by ParentCo or ParentCo Sub and any cheque included therein is paid. Concurrently with
such Holder ceasing to be a holder of Exchangeable Shares, the Holder shall be registered as the holder of the Class A Shares delivered to it pursuant to the Exchange Put Right or the Exchange Right. </FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">3.7</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U><FONT FACE="Times New Roman" SIZE="2"> Exercise of Exchange Right Subsequent to Retraction.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</B>In the event that a Holder has exercised its right under Article 6 of the Exchangeable Share
Provisions to require the Corporation to redeem any or all of the Exchangeable Shares held by the Holder (the &#147;Retracted Shares&#148;) and is notified by the Corporation pursuant to Section 6.6 of the Exchangeable Share Provisions that the
Corporation will not be permitted as a result of liquidity or solvency requirements of applicable law to redeem all such Retracted Shares, subject to receipt by the Trustee of written notice to that effect from the Corporation and provided that
ParentCo shall not have exercised the Retraction Call Right with respect to the Retracted Shares and that the Holder has not revoked the retraction request delivered by the Holder to the Corporation pursuant to Section 6.1 of the Exchangeable Share
Provisions, the retraction request will constitute and will be deemed to constitute notice from the Holder to the Trustee instructing the Trustee to exercise the Exchange Right with respect to those Retracted Shares which the Corporation is unable
to redeem. In any such event, the Corporation hereby agrees with the Trustee and in favour of the Holder immediately to notify the Trustee of such prohibition against </FONT></P>

<P></P>
<P><FONT FACE="Times New Roman" SIZE="2">the Corporation's redeeming all of the Retracted Shares and immediately to forward or cause to be forwarded to the Trustee all relevant materials delivered by the Holder to the Corporation (including without
limitation a copy of the retraction request delivered pursuant to Section 6.1 of the Exchangeable Share Provisions) in connection with such proposed redemption of the Retracted Shares, and the Trustee will thereupon exercise the Exchange Right with
respect to the Retracted Shares which the Corporation is not permitted to redeem and will require ParentCo or ParentCo Sub to purchase such shares in accordance with the provisions of this Article 3.</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">3.8</FONT></B></TD>
<TD COLSPAN="3"><B><U><FONT FACE="Times New Roman" SIZE="2">Stamp or Other Transfer Taxes.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B></B></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">Upon any sale of Exchangeable Shares to ParentCo pursuant to the Exchange Put Right, the Exchange Right or the Automatic Exchange Rights, the Class A Shares to be </FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">issued anddelivered or transferred in connection with the payment of the total purchase price therefor shall be registered in the name of the Holder of the Exchangeable Shares so sold or in such
names as such Holder may otherwise direct in writing without charge to the holder of the Exchangeable Shares so sold, provided, however, that such Holder:</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
</TR>
</TABLE>
<P>&nbsp;</P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="2">
<P><FONT FACE="Times New Roman" SIZE="2">shall pay (and none of ParentCo, ParentCo Sub, the Corporation or the Trustee shall be required to pay) any documentary, stamp, transfer or other similar taxes that may be payable in respect of any transfer
involved in the issuance or delivery of such shares to a person other than such Holder; or</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">shall have established to the satisfaction of the Trustee, ParentCo and the Corporation that such taxes, if any, have been paid.</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2">The Corporation and the Trustee (as directed in writing by the Corporation) shall be entitled to deduct and withhold from any consideration otherwise payable under this Agreement to any Holder such amounts as
the Corporation or the Trustee is required or permitted to deduct and withhold with respect to such payment under the <I>Income Tax Act</I> (Canada), the United States Internal Revenue Code of 1986 or any provision of provincial, state, local or
foreign tax law, in each case as amended or succeeded unless such Holder provides to the Corporation certificates or such other assurances as are provided for under the <I>Income Tax Act</I> (Canada), the United States Internal Revenue Code of 1986
or such other applicable taxation provisions. To the extent that amounts are so withheld, such withheld amounts shall be treated for all purposes as having been paid to the Holder in respect of which such deduction and withholding was made, provided
that such withheld amounts are actually remitted to the appropriate taxing authority as and when required. To the extent that the amount so required or permitted to be deducted or withheld from any payment to a Holder exceeds the cash portion, if
any, of the consideration otherwise payable to the Holder, the Corporation and the Trustee are hereby authorized to sell or otherwise dispose of such portion of the consideration as is necessary to provide sufficient funds to the Corporation or the
Trustee, as the case may be, to enable it to comply with such deduction or withholding requirement and the Corporation or the Trustee shall notify the Holder and remit to such Holder any unapplied balance of the net proceeds of such sale. </FONT></P>

<P></P>
<P><B><FONT FACE="Times New Roman Bold" SIZE="2"></FONT></B></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">3.9</FONT>&nbsp;</B></TD>
<TD COLSPAN="3"><B><U><FONT FACE="Times New Roman" SIZE="2">Notice of Insolvency Event.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Immediately upon the occurrence of an Insolvency Event or any event which with the giving of notice or the passage of time or both would be an Insolvency</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">Event, the Corporation shall give written notice thereof to the Trustee and ParentCo. As soon as practicable after receiving notice from the Corporation of the occurrence of an Insolvency Event,
the Trustee will mail to each Holder, at the expense of ParentCo, a notice of such Insolvency Event in the form provided by ParentCo, which notice shall contain a brief statement of the right of the Holders with respect to the Exchange
Right.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">3.10</FONT>&nbsp;</B></TD>
<TD COLSPAN="3"><B><U><FONT FACE="Times New Roman" SIZE="2">Reservation of Class A Shares.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">ParentCo hereby represents, warrants and covenants with the Trustee for the benefit of the Holders that it has irrevocably reserved for issuance, and will at </FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">all times keep available, free from pre-emptive and other rights, within its authorized and unissued share capital such number of Class A Shares:</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman" SIZE="2">as is equal to the number of Exchangeable Shares issued and outstanding from time to time; and</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="2">
<P><FONT FACE="Times New Roman" SIZE="2">as are now and may hereafter be required to enable and permit the Corporation to meet its obligations hereunder, under the Support Agreement and under the Exchangeable Share Provisions. </FONT></P>
</TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">3.11</FONT>&nbsp;</B></TD>
<TD COLSPAN="3"><B><U><FONT FACE="Times New Roman" SIZE="2">Automatic Exchange on Liquidation of ParentCo.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">ParentCo will give the Trustee written notice of each of the following events at the time set forth below:</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%"><FONT FACE="Times New Roman" SIZE="2">(i)</FONT></TD>
<TD COLSPAN="2">
<P><FONT FACE="Times New Roman" SIZE="2">in the event of any determination by the board of directors of the ParentCo to institute voluntary liquidation, dissolution or winding-up proceedings with respect to ParentCo or to effect any other
distribution of assets of ParentCo among its shareholders for the purpose of winding up its affairs, at least 60 days prior to the proposed effective date of such liquidation, dissolution, winding-up or other distribution; and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%"><FONT FACE="Times New Roman" SIZE="2">(ii)</FONT></TD>
<TD COLSPAN="2">
<P><FONT FACE="Times New Roman" SIZE="2">immediately, upon the earlier of</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%"><FONT FACE="Times New Roman" SIZE="2">A.</FONT></TD>
<TD WIDTH="79%"><FONT FACE="Times New Roman" SIZE="2">receipt by ParentCo of notice of; and</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%"><FONT FACE="Times New Roman" SIZE="2">B.</FONT></TD>
<TD WIDTH="79%">
<P><FONT FACE="Times New Roman" SIZE="2">ParentCo's otherwise becoming aware of; </FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="79%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD COLSPAN="2">
<P><FONT FACE="Times New Roman" SIZE="2">any threatened or instituted claim, suit, petition or other proceedings with respect to the involuntary liquidation, dissolution or winding-up of </FONT></P>
</TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD COLSPAN="2">
<P><FONT FACE="Times New Roman" SIZE="2"> ParentCo or to effect any other distribution of assets of ParentCo among its shareholders for the purpose of winding up its affairs.</FONT></P>
</TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">Immediately following receipt by the Trustee from ParentCo of notice of any event (a &#147;Liquidation Event&#148;) contemplated by Section 3.11(a) above, the Trustee will give notice thereof to the Holders.
Such notice will be provided by ParentCo to the Trustee and shall include a brief description of the automatic exchange of Exchangeable Shares for Class A Shares provided for in Section 3.11(c) below.</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">In order that the Holders will be able to participate on a pro rata basis with the holders of Class A Shares in the distribution of assets of ParentCo in connection with a Liquidation Event,
immediately prior to the effective time (the &#147;Liquidation Event Effective Time&#148;) of a Liquidation Event, all of the then outstanding Exchangeable Shares shall be automatically exchanged for Class A Shares. To effect such automatic
exchange, ParentCo shall be deemed to have purchased each Exchangeable Share held by Holders outstanding immediately prior to the Liquidation Event Effective Time, and each Holder shall be deemed to have sold the Exchangeable Shares held by it at
such time, for a purchase price per share equal to the Exchangeable Share Price applicable at such time. In connection with such automatic exchange, ParentCo will provide to the Trustee an Officer's Certificate setting forth the calculation of the
purchase price for each Exchangeable Share.</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(d)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">The closing of the transaction of purchase and sale contemplated by Section 3.11(c) above shall be deemed to have occurred immediately prior to the Liquidation Event Effective Time, and each Holder of
Exchangeable Shares shall have transferred to ParentCo all of the Holder's right, title and interest in and to such Exchangeable Shares and, upon such transfer, each such Holder shall cease to be a holder of such Exchangeable Shares, and ParentCo
shall deliver to the Holder the Exchangeable Share Consideration deliverable upon such exchange of Exchangeable Shares. Concurrently with such Holder's ceasing to be a holder of Exchangeable Shares, the Holder shall be registered as the holder of
the Class A Shares to be issued to it pursuant to such exchange of Exchangeable Shares for Class A Shares, and the certificates held by the Holder previously representing the Exchangeable Shares exchanged by the Holder with ParentCo pursuant to such
exchange shall thereafter represent the right to receive the Class A Shares registered in the name of the Holder by ParentCo pursuant to such exchange. Upon the request of a Holder and the surrender by the Holder of Exchangeable Share certificates
duly endorsed in blank and accompanied by such instruments of transfer as ParentCo may reasonably require, ParentCo shall deliver or cause to be delivered to the Holder certificates representing the Class A Shares of which the Holder is the holder.
</FONT></P>
</TD>
</TR>
</TABLE>

<P></P>
<P><B><FONT FACE="Times New Roman Bold" SIZE="2"></FONT></B></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">3.12</FONT><FONT FACE="Times New Roman" SIZE="2"><B></B></FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Certain Restrictions</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For greater certainty, the rights and obligations of each of the Holders and
ParentCo set forth herein are subject to their respective rights and obligations, and any restrictions on the transfer, registration,qualification or approval of Class A Shares set forth in the Exchangeable Share Provisions, any Transfer
Restrictions (as defined in the Exchangeable Share Provisions) and any other agreements or restrictions agreed to by, or binding upon, the Holders or ParentCo, as the case may be.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="CENTER"><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 4 - CONCERNING THE TRUSTEE</FONT></U></B></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">4.1</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Powers and Duties of the Trustee.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">The rights, powers and authorities of the Trustee under this agreement, in its capacity as trustee of the Trust, shall </FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">include:</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">receiving the grant of the Exchange Put Right, the Exchange Right and the Automatic Exchange Rights from ParentCo as trustee for and on behalf of the Holders in accordance with the provisions of this
agreement;</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">exercising the Exchange Put Right and the Exchange Right and enforcing the benefit of the Automatic Exchange Rights, in each case in accordance with the provisions of this agreement, and in connection
therewith receiving from Holders certificates representing Exchangeable Shares and other requisite documents, and distributing to such Holders the Class A Shares and cheques, if any, to which such Holders are entitled upon the exercise of the
Exchange Put Right and the Exchange Right or pursuant to the Automatic Exchange Rights, as the case may be;</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">holding title to the Trust Estate;</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(d)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">investing any moneys forming, from time to time, a part of the Trust Estate as provided in this agreement;</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(e)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">taking action at the direction of a Holder or Holders to enforce the obligations of ParentCo under this agreement; and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(f)</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2">taking such other actions and doing such other things as are specifically provided in this agreement.</FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>In the exercise of such rights, powers and authorities the Trustee shall
have (and is granted) such incidental and additional rights, powers and authority not in conflict with any of the provisions of this agreement as the Trustee, acting in good faith and in the reasonable exercise of its discretion, may deem necessary,
appropriate or desirable to effect the purpose of the Trust. Any exercise of such discretionary rights, powers and authorities by the Trustee shall </FONT></P>

<P></P>
<P><FONT FACE="Times New Roman" SIZE="2">be final, conclusive and binding upon all persons. For greater certainty, the Trustee shall have only those duties as are set out specifically in this agreement. The Trustee in exercising its rights, powers,
duties and authorities hereunder shall act honestly and in good faith with a view to the best interests of the Holders and the terms of this agreement and shall exercise the care, diligence and skill that a reasonably prudent trustee would exercise
in comparable circumstances. The Trustee shall not be bound to give any notice or do or take any act, action or proceeding by virtue of the powers conferred on it hereby unless and until it shall be specifically required to do so under the terms
hereof; nor shall the Trustee be required to take any notice of, or to do or to take any act, action or proceeding as a result of, any default or breach of any provision hereunder, unless and until notified in writing of such default or breach,
which notices shall distinctly specify the default or breach desired to be brought to the attention of the Trustee and in the absence of such notice the Trustee may for all purposes of this agreement conclusively assume that no default or breach has
been made in the observance or performance of any of the representations, warranties, covenants, agreements or conditions contained herein.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">4.2</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">No Conflict of Interest. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Trustee represents to the Corporation and ParentCo that at the date of
execution and delivery of this agreement there exists no material conflict of interest in the role of the Trustee as a fiduciary hereunder and the role of the Trustee in any other capacity. The Trustee shall, within 90 days after it becomes aware
that such a material conflict of interest exists, either eliminate such material conflict of interest or resign in the manner and with the effect specified in Article 7 hereof. If, notwithstanding the foregoing provisions of this Section 4.2, the
Trustee has such a material conflict of interest, the validity and enforceability of this agreement shall not be affected in any manner whatsoever by reason only of the existence of such material conflict of interest. If the Trustee contravenes the
foregoing provisions of this Section 4.2, any interested party may apply to the superior court of the province in which the Corporation has its registered office for an order that the Trustee be replaced as trustee hereunder.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">4.3</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Dealings with Transfer Agents, Registrars, Etc.</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Corporation and ParentCo irrevocably authorize the Trustee, from time
to time, to:</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">consult, communicate and otherwise deal with the respective registrars and transfer agents, and with any such subsequent registrar or transfer agent, of the Class A Shares; and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">requisition, from time to time,</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="85%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(i)</FONT></TD>
<TD COLSPAN="2" WIDTH="85%">
<P><FONT FACE="Times New Roman" SIZE="2">from the Corporation or any such registrar or transfer agent of the Exchangeable Shares any information readily available from the records maintained by it and any certificates representing the Exchangeable
Shares which the Trustee may reasonably require for the discharge of its duties and responsibilities under this agreement; and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="85%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="85%">&nbsp;</TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(ii)</FONT></TD>
<TD COLSPAN="2" WIDTH="85%">
<P><FONT FACE="Times New Roman" SIZE="2">from the transfer agent of Class A Shares, and any subsequent transfer agent of such shares, to complete the exercise from time to time of the Exchange Put Right, the Exchange Right and the Automatic Exchange
Rights in the manner specified in Article 3 hereof, the share certificates issuable upon such exercise, if any.</FONT></P>
</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Corporation and ParentCo irrevocably authorize their respective
registrars and transfer agents to comply with all such requests. ParentCo covenants that if the Class A Shares are to be represented by share certificates, it will supply its transfer agent with duly executed share certificates for the purpose of
completing the exercise from time to time of the Exchange Put Right, the Exchange Right and the Automatic Exchange Rights, in each case pursuant to Article 3 hereof.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">4.4</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman" SIZE="2">Books
and Records. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Trustee shall keep available for inspection by ParentCo and the
Corporation, at the Trustee's principal transfer office in Toronto, Ontario, correct and complete books and records of account relating to the Trustee's actions under this agreement, including without limitation all information relating to mailings
and instructions to and from Holders and all transactions pursuant to the Exchange Put Right, the Exchange Right and the Automatic Exchange Rights for the term of this agreement. </FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">4.5</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Income Tax Returns and Reports. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Corporation shall, to the extent necessary, prepare and file on behalf
of the Trust appropriate United States and Canadian income tax returns and any other returns or reports as may be required by applicable law or pursuant to the rules and regulations of any securities exchange or other trading system through which
the Class A Shares are traded and, in connection therewith, may obtain the advice and assistance of such experts as the Trustee may consider necessary or advisable. If requested by the Trustee, ParentCo shall retain such experts for purposes of
providing such advice and assistance.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">4.6</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Indemnification Prior to Certain Actions by Trustee. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Trustee shall exercise any or all of the rights, duties, powers or
authorities vested in it by this agreement at the written request, order or direction of any Holder upon such Holder's furnishing to the Trustee reasonable funding, security and indemnity against the costs, expenses and liabilities which may be
incurred by the Trustee therein or thereby; provided that no Holder shall be obligated to furnish to the Trustee any such funding, security or indemnity in connection with the exercise by the Trustee of any of its rights, duties, powers and
authorities with respect to the Exchange Put Right and the Exchange Right as specifically provided for in Article 3 hereof, subject to Section 4.15 hereof, and with respect to the Automatic Exchange Rights pursuant to Article 3 hereof. None of the
provisions contained in this agreement shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the exercise of any of its </FONT></P>

<P></P>
<P><FONT FACE="Times New Roman" SIZE="2">rights, powers, duties or authorities unless funded, given funds, security and indemnified as aforesaid.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">4.7</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Actions by Holders. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>No Holder shall have the right to institute any action, suit or proceeding
or to exercise any other remedy authorized by this agreement for the purpose of enforcing any of its rights or for the execution of any trust or power hereunder unless the Holder has requested the Trustee to take or institute such action, suit or
proceeding and furnished the Trustee with the funding, security and indemnity referred to in Section 4.6 hereof and the Trustee shall have failed to act within a reasonable time thereafter. In such case, but not otherwise, the Holder shall be
entitled to take proceedings in any court of competent jurisdiction such as the Trustee might have taken; it being understood and intended that no one or more Holders shall have any right in any manner whatsoever to affect, disturb or prejudice the
rights hereby created by any such action, or to enforce any right hereunder or under the Exchange Put Right, the Exchange Right or the Automatic Exchange Rights, except subject to the conditions and in the manner herein provided, and that all powers
and trusts hereunder shall be exercised and all proceedings at law shall be instituted, had and maintained by the Trustee, except only as herein provided, and in any event for the equal benefit of all Holders.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">4.8</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Reliance Upon Declarations. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Trustee shall not be considered to be in contravention of any of its
rights, powers, duties and authorities hereunder if, when required, it acts and relies in good faith upon lists, mailing labels, notices, statutory declarations, certificates, opinions, reports or other papers or documents furnished pursuant to the
provisions hereof or required by the Trustee to be furnished to it in the exercise of its rights, powers, duties and authorities hereunder, and such lists, mailing labels, notices, statutory declarations, certificates, opinions, reports or other
papers or documents comply with the provisions of Section 4.9 hereof, if applicable, and with any other applicable provisions of this agreement.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">4.9</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Evidence and Authority to Trustee. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Corporation and/or ParentCo shall furnish to the Trustee evidence of
compliance with the conditions provided for in this agreement relating to any action or step required or permitted to be taken by the Corporation and/or ParentCo or the Trustee under this agreement or as a result of any obligation imposed under this
agreement, including, without limitation, in respect of the Exchange Put Right, the Exchange Right or the Automatic Exchange Rights and the taking of any other action to be taken by the Trustee at the request of or on the application of the
Corporation and/or ParentCo forthwith if and when:</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">such evidence is required by any other section of this agreement to be furnished to the Trustee in accordance with the terms of this Section 4.9; or</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">the Trustee, in the exercise of its rights, powers, duties and authorities under this agreement, gives the Corporation and/or ParentCo written notice requiring it to furnish such evidence in relation to any
particular action or obligation specified in such notice.</FONT></P>
</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Such evidence shall consist of an Officer's Certificate of the Corporation
and/or ParentCo or a statutory declaration or a certificate made by persons entitled to sign an Officer's Certificate stating that any such condition has been complied with in accordance with the terms of this agreement.</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Whenever such evidence relates to a matter other than the Exchange Put
Right, the Exchange Right or the Automatic Exchange Rights, and except as otherwise specifically provided herein, such evidence may consist of a report or opinion of any solicitor, auditor, accountant, appraiser, valuer, engineer or other expert or
any other person whose qualifications give authority to a statement made by him, provided that if such report or opinion is furnished by a director, officer or employee of the Corporation and/or ParentCo it shall be in the form of an Officer's
Certificate or a statutory declaration.</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Each statutory declaration, certificate, opinion or report furnished to the
Trustee as evidence of compliance with a condition provided for in this agreement shall include a statement by the person giving the evidence:</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">declaring that he has read and understands the provisions of this agreement relating to the condition in question;</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(d)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">describing the nature and scope of the examination or investigation upon which he based the statutory declaration, certificate, statement or opinion; and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(e)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">declaring that he has made such examination or investigation as he believes is necessary to enable him to make the statements or give the opinions contained or expressed therein.</FONT></P>
</TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">4.10</FONT><FONT FACE="Times New Roman" SIZE="2"><B></B></FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Experts, Advisers and Agents.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">The Trustee may:</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">in relation to these presents act and rely, and shall be protected in acting and relying, on the opinion or advice of or information obtained from or prepared by any solicitor, auditor, accountant, appraiser,
valuer, engineer or other expert, whether retained by the Trustee or by the Corporation and/or ParentCo or otherwise, and may employ such assistants as may be necessary to the proper determination and discharge of its powers and duties and
determination of its rights hereunder and may pay proper and reasonable compensation for all such legal and other advice or assistance as aforesaid; and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman" SIZE="2"> </FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">retain and employ such agents and other assistants as it may reasonably require for the proper determination and discharge of its powers and duties hereunder, and may pay reasonable remuneration for all
services performed for it (and shall be entitled to receive reasonable remuneration for all services performed by it) in the discharge of the trusts hereof and compensation for all disbursements, costs and expenses made or incurred by it in the
determination and discharge of its duties hereunder and in the management of the Trust.</FONT></P>
</TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">4.11</FONT></B></TD>
<TD COLSPAN="4"><B><FONT FACE="Times New Roman" SIZE="2"></FONT><U><FONT FACE="Times New Roman" SIZE="2">Investment of Moneys Held by Trustee.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Unless otherwise provided in this agreement, any moneys held by or on behalf of the Trustee which under the terms </FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">of this agreement may or ought to be invested or which may be on deposit with the Trustee or which may be in the hands of the Trustee, may be invested and reinvested in the name or under the
control of the Trustee in securities in which, under the laws of the Province of Ontario, trustees are authorized to invest trust moneys; provided that such securities are stated to mature within two years after their purchase by the Trustee, and
the Trustee shall so invest such moneys on the timely written direction of the Corporation. Pending the investment of any moneys as hereinbefore provided, such moneys may be deposited in the name of the Trustee in any chartered bank in Canada or,
with the consent of the Corporation, in the deposit department of the Trustee or any other loan or trust company authorized to accept deposits under the laws of Canada or any province thereof at the rate of interest then current on similar
deposits.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">4.12</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Trustee Not Required to Give Security. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">The Trustee shall not be required to give any bond or security in respect of the execution of the trusts, rights, duties, </FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">powers and authorities of this agreement or otherwise in respect of the premises.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">4.13</FONT><FONT FACE="Times New Roman" SIZE="2"><B></B></FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Trustee Not Bound to Act on Request.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;</B>Except as in this agreement otherwise specifically provided, the Trustee shall not be bound to act in accordance with </FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2"> any direction or request of the Corporation and/or ParentCo or of the directors thereof until a duly authenticated copy of the instrument or resolution containing such direction or request shall
have been delivered to the Trustee, and the Trustee shall be empowered to act and rely upon any such copy purporting to be authenticated and believed by the Trustee to be genuine.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">4.14</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Authority to Carry on Business.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">The Trustee represents to the Corporation and ParentCo that at the date of execution and delivery by it of this </FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">agreement it is authorized to carry on the business of a trust company in the Province of Ontario but if, notwithstanding the provisions of this Section 4.14, it ceases to be so authorized to
carry on business, the validity and enforceability of this agreement and the Exchange Put Right, the Exchange Right and the Automatic Exchange Rights shall not be </FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></P>

<P></P>
<P><FONT FACE="Times New Roman" SIZE="2">affected in any manner whatsoever by reason only of such event; provided, however, the Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province
of Ontario, either become so authorized or resign in the manner and with the effect specified in Article 7 hereof.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">4.15</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Conflicting Claims. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>If conflicting claims or demands are made or asserted with respect to any
interest of any Holder in any Exchangeable Shares, including any disagreement between the heirs, representatives, successors or assigns succeeding to all or any part of the interest of any Holder in any Exchangeable Shares resulting in conflicting
claims or demands being made in connection with such interest, then the Trustee shall be entitled, at its sole discretion, to refuse to recognize or to comply with any such claim or demand. In so refusing, the Trustee may elect not to exercise any
Exchange Put Right, Exchange Right or Automatic Exchange Rights subject to such conflicting claims or demands and, in so doing, the Trustee shall not be or become liable to any person on account of such election or its failure or refusal to comply
with any such conflicting claims or demands. The Trustee shall be entitled to continue to refrain from acting and to refuse to act until:</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">the rights of all adverse claimants with respect to the Exchange Put Right, Exchange Right or Automatic change Rights subject to such conflicting claims or demands have been adjudicated by a final judgment of
a court of competent jurisdiction; or</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">the differences with respect to the Exchange Put Right, Exchange Right or Automatic Exchange Rights subject to such conflicting claims or demands have been conclusively settled by a valid written agreement
binding on all such adverse claimants, and the Trustee shall have been furnished with an executed copy of such agreement.</FONT></P>
</TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2"> </FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>If the Trustee elects to
recognize any claim or comply with any demand made by any such adverse claimant, it may in its discretion require such claimant to furnish such surety bond or other security satisfactory to the Trustee as it shall deem appropriate fully to indemnify
it as between all conflicting claims or demands.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">4.16</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Acceptance of Trust. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Trustee hereby accepts the Trust created and provided for by and in
this agreement and agrees to perform the same upon the terms and conditions herein set forth and to hold all rights, privileges and benefits conferred hereby and by law in trust for the various persons who shall from time to time be Holders, subject
to all the terms and conditions herein set forth.</FONT></P>

<P></P>

<P ALIGN="CENTER"><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 5 - COMPENSATION</FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>ParentCo and the Corporation jointly and severally agree to pay to the
Trustee reasonable compensation for all of the services rendered by it under this agreement and will reimburse the Trustee for all reasonable expenses (including but not limited to taxes, compensation paid to experts, agents and advisors and travel
expenses) and disbursements, including the cost and expense of any suit or litigation of any character and any proceedings before any governmental agency, reasonably incurred by the Trustee in connection with its rights and duties under this
agreement; provided that ParentCo and the Corporation shall have no obligation to reimburse the Trustee for any expenses or disbursements paid, incurred or suffered by the Trustee in any suit or litigation in which the Trustee is determined to have
acted in bad faith or with negligence or wilful misconduct.</FONT></P>

<P ALIGN="CENTER"><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 6 - INDEMNIFICATION AND LIMITATION OF LIABILITY</FONT></U></B></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">6.1</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Indemnification of the Trustee. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>ParentCo and the Corporation jointly and severally agree to indemnify and
hold harmless the Trustee, and each of its directors, officers, employees and agents appointed and acting in accordance with this agreement (for whom it is expressly agreed that the Trustee is holding the benefit of this indemnity and rights of
enforcement thereof in trust) (collectively, the &#147;Indemnified Parties&#148;) against all claims, losses, damages, costs, penalties, fines and reasonable expenses (including reasonable expenses of the Trustee's legal counsel) which, without
fraud, negligence, wilful misconduct or bad faith on the part of such Indemnified Party, may be paid, incurred or suffered by the Indemnified Party by reason of or as a result of the Trustee's acceptance or administration of the Trust, its
compliance with and completion of its duties set forth in this agreement, or any written or oral instructions delivered to the Trustee by ParentCo or the Corporation pursuant hereto. In no case shall ParentCo or the Corporation be liable under this
indemnity for any claim against any of the Indemnified Parties unless ParentCo and the Corporation shall be notified by the Trustee of the written assertion of a claim or of any action commenced against the Indemnified Parties, promptly after any of
the Indemnified Parties shall have received any such written assertion of a claim or shall have been served with a summons or other first legal process giving information as to the nature and basis of the claim and such failure prejudices the
ability of the ParentCo or the Corporation to respond to any such claim or action. Subject to (i) below, ParentCo and the Corporation shall be entitled to participate at their own expense in the defense and, if ParentCo or the Corporation so elect
at any time after receipt of such notice, either of them may assume the defense of any suit brought to enforce any such claim. The Trustee shall have the right to employ separate counsel in any such suit and participate in the defense thereof, but
the fees and expenses of such counsel shall be at the expense of the Trustee unless: (i) the employment of such counsel has been authorized by ParentCo or the Corporation, such authorization not to be unreasonably withheld; or (ii) the named parties
to any such suit include both the Trustee and ParentCo or the Corporation and the Trustee shall have been advised by counsel acceptable to ParentCo or the Corporation that there may be one or more legal defenses available to the Trustee that are
different from or in addition</FONT></P>

<P></P>
<P><FONT FACE="Times New Roman" SIZE="2"> to those available to ParentCo or the Corporation and that an actual or potential conflict of interest exists (in which case ParentCo and the Corporation shall not have the right to assume the defense of
such suit on behalf of the Trustee, but shall be liable to pay the reasonable fees and expenses of counsel for the Trustee).</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">6.2</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Limitation of Liability. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Trustee shall not be held liable for any loss which may occur by reason
of depreciation of the value of any part of the Trust Estate or any loss incurred on any investment of funds pursuant to this agreement, except to the extent that such loss is attributable to the fraud, negligence, wilful misconduct or bad faith on
the part of the Trustee.</FONT></P>

<P ALIGN="CENTER"><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 7 - CHANGE OF TRUSTEE</FONT></U></B></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">7.1</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Resignation. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Trustee, or any trustee hereafter appointed, may at any time resign by
giving written notice of such resignation to ParentCo and the Corporation specifying the date on which it desires to resign, provided that such notice shall never be given less than 60 days before such desired resignation date unless ParentCo and
the Corporation otherwise agree and provided further that such resignation shall not take effect until the date of the appointment of a successor trustee and the acceptance of such appointment by the successor trustee. Upon receiving such notice of
resignation, ParentCo and the Corporation shall promptly appoint a successor trustee by written instrument in duplicate, one copy of which shall be delivered to the resigning trustee and one copy to the successor trustee. Failing acceptance by a
successor trustee, a successor trustee may be appointed by an order of the superior court of the province in which the Corporation has its registered office upon application of one or more of the parties hereto at the Corporation's
expense.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">7.2</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></FONT><U><FONT FACE="Times New Roman" SIZE="2">
Removal. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Trustee, or any trustee hereafter appointed, may be removed with or
without cause, at any time on 60 days' prior notice by written instrument executed by ParentCo and the Corporation, in duplicate, one copy of which shall be delivered to the trustee so removed and one copy to the successor trustee, provided that, in
connection with such removal, provision is made for a replacement trustee similar to that contemplated in Section 7.1.</FONT></P>

<P><B><FONT FACE="Times New Roman Bold" SIZE="2">7.3</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman"
SIZE="2">Successor Trustee. </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Any successor trustee appointed as provided under this agreement shall
execute, acknowledge and deliver to ParentCo and the Corporation and to its predecessor trustee an instrument accepting such appointment. Thereupon the resignation or removal of the predecessor trustee shall become effective and such successor
trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its </FONT></P>

<P></P>
<P><FONT FACE="Times New Roman" SIZE="2">predecessor under this agreement, with like effect as if originally named as trustee in this agreement. However, on the written request of ParentCo and the Corporation or of the successor trustee, the trustee
ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of the agreement, execute and deliver an instrument transferring to such successor trustee all the rights and powers of the trustee so ceasing to act. Upon the
request of any such successor trustee, ParentCo, the Corporation and such predecessor trustee shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and
powers.</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">7.4</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Notice of Successor Trustee.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Upon acceptance of appointment by a successor trustee as provided herein, ParentCo and the Corporation shall</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">cause to be mailed notice of the succession of such trustee hereunder to each Holder specified in a List. If ParentCo or the Corporation shall fail to cause such notice to be mailed within 10
days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of ParentCo and the Corporation.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="CENTER"><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 8 - SUCCESSORS TO PARENTCO OR THE CORPORATION </FONT></U></B><B><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U></U></B></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">8.1</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Certain Requirements in Respect of Combination, Etc. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">If either ParentCo or the Corporation shall enter into any transaction (whether by way of reconstruction,</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">reorganization, consolidation, merger, transfer, sale, lease or otherwise) whereby all or substantially all of its undertaking, property and assets would become the property of any other Person
or, in the case of a merger, of the continuing corporation resulting therefrom, it shall ensure that:</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">
<P>&nbsp;</P>

<P>&nbsp;</P>
</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">such other Person or continuing corporation (the &#147;Successor&#148;), by operation of law, becomes, without more, bound by the terms and provisions of this agreement or, if not so bound, executes, prior to
or contemporaneously with the consummation of such transaction an agreement supplemental hereto and such other instruments (if any) are necessary or advisable to evidence the assumption by the Successor of liability for all moneys payable and
property deliverable hereunder, the covenant of such Successor to pay and deliver or cause to be delivered the same and its agreement to observe and perform all the covenants and obligations of ParentCo under this agreement; and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">such transaction shall be upon such terms which substantially preserve and do not impair in any material respect any of the rights, duties, powers and authorities of the Trustee or of the Holders
hereunder.</FONT></P>
</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman" SIZE="2"> </FONT></P>
<P><B><FONT FACE="Times New Roman Bold" SIZE="2"></FONT></B></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">8.2</FONT><FONT FACE="Times New Roman" SIZE="2"><B></B></FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Vesting of Powers in Successor.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;</B>In the event that Section 8.1 applies, the Trustee, the Successor, ParentCo and the Corporation shall execute</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">and deliver the supplemental agreement provided for in Article 9 hereof, and thereupon the Successor shall possess and from time to time may exercise each and every right and power of ParentCo
under this agreement in the name of ParentCo or otherwise and any act or proceeding by any provision of this agreement required to be done or performed by the board of directors of ParentCo or any officers of ParentCo may be done and performed with
like force and effect by the directors or officers of such Successor.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">8.3</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Wholly-owned Subsidiaries. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Nothing herein shall be construed as preventing the amalgamation or merger of any wholly-owned subsidiary of</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">ParentCo with or into ParentCo or the winding-up, liquidation or dissolution of any wholly-owned subsidiary of ParentCo provided that all of the assets of such subsidiary are transferred to
ParentCo or another wholly-owned subsidiary of ParentCo, and any such transactions are expressly permitted by this Article 8.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;</B></FONT><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 9 - AMENDMENTS AND SUPPLEMENTAL AGREEMENTS</FONT></U></B></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">9.1</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Amendments, Modifications, Etc.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;</B>Subject to Section 9.4, this agreement may not be amended, modified or waived except by an agreement in</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2"> writing executed by the Corporation, ParentCo and the Trustee and approved by the Holders in accordance with Section 10.1 of the Exchangeable Share Provisions. No amendment to or modification or
waiver of any of the provisions of this agreement otherwise permitted hereunder shall be effective unless made in writing and signed by all of the parties hereto.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">9.2</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Ministerial Amendments.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Notwithstanding the provisions of Section 9.1 hereof, the parties to this agreement may in writing, at any time</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2"> and from time to time, without the approval of the Holders, amend or modify this agreement for the purposes of:</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">adding to the covenants of any or all of the parties hereto for the protection of the Holders hereunder;</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">making such amendments or modifications not inconsistent with this agreement as may be necessary or desirable with respect to matters or questions which, in the opinion of the board of directors of each of
ParentCo and the Corporation and in the opinion of the Trustee, relying upon its counsel, having in mind the best interests of the Holders as a whole, it may be expedient to make, provided that such boards of directors and the Trustee, relying on
its counsel, shall be of the</FONT></P>
</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman" SIZE="2"> </FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="89%">
<P><FONT FACE="Times New Roman" SIZE="2">opinion that such amendments and modifications will not be prejudicial to the interests of the Holders as a whole;</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="89%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="3" WIDTH="89%">
<P><FONT FACE="Times New Roman" SIZE="2">making such changes or corrections which, on the advice of counsel to the Corporation, ParentCo and the Trustee, are required for the purpose of curing or correcting any ambiguity or defect or inconsistent
provision or clerical omission or mistake or manifest error; provided that the Trustee and, relying on its counsel, and the board of directors of each of the Corporation and ParentCo shall be of the opinion that such changes or corrections will not
be prejudicial to the interests of the Holders as a whole; or</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="89%">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(d)</FONT></TD>
<TD COLSPAN="3" WIDTH="89%">
<P><FONT FACE="Times New Roman" SIZE="2">making such changes as may be necessary or appropriate to implement or give effect to any assignment or assumption made pursuant to Section 11.8 hereof.</FONT></P>
</TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">9.3</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Meeting to Consider Amendments.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">The Corporation, at the request of ParentCo, shall call a meeting or meetings of the Holders for the purpose of</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">considering any proposed amendment or modification requiring approval pursuant hereto. Any such meeting or meetings shall be called and held in accordance with the by-laws of the Corporation, the
Exchangeable Share Provisions and all applicable laws.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">9.4</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;</B></FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Changes in Capital of ParentCo and the Corporation.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">At all times after the occurrence of any event effected pursuant to Section 2.6 or Section&#160;2.7 of the Support</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">Agreement, as a result of which the Class A Shares or the Exchangeable Shares or any of them are in any way changed, this agreement shall forthwith be amended and modified as necessary in order
that it shall apply with full force and effect, mutatis mutandis, to all new securities into which Class A Shares or the Exchangeable Shares or any of them are so changed, and the parties hereto shall execute and deliver a supplemental agreement
giving effect to and evidencing such necessary amendments and modifications.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">9.5</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Execution of Supplemental Agreements. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;</B>From time to time the Corporation (when authorized by a resolution of its Board of Directors), ParentCo (when</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">authorized by a resolution of its board of directors) and the Trustee may, subject to the provisions of these presents, and they shall, when so directed by these presents, execute and deliver by
their proper officers, agreements or other instruments supplemental hereto, which thereafter shall form part hereof, for any one or more of the following purposes:</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">evidencing the succession of any Successors to ParentCo and the covenants of and obligations assumed by each such Successor in accordance with the provisions of Article 8 and the successor of any successor
trustee in accordance with the provisions of Article 7;</FONT></P>
</TD>
</TR>
</TABLE>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">making any additions to, deletions from or alterations of the provisions of this agreement, the Exchange Put Right, the Exchange Right or the Automatic Exchange Rights which, in the opinion of the Trustee and
its counsel, will not be prejudicial to the interests of the Holders as a whole or are in the opinion of counsel to the Trustee necessary or advisable in order to incorporate, reflect or comply with any legislation the provisions of which apply to
ParentCo, the Corporation, the Trustee or this agreement; and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">for any other purposes not inconsistent with the provisions of this agreement, including without limitation to make or evidence any amendment or modification to this agreement as contemplated hereby, provided
that, in the opinion of the Trustee and its counsel, the rights of the Trustee and the Holders as a whole will not be prejudiced thereby.</FONT></P>
</TD>
</TR>
</TABLE>
<P ALIGN="center"><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 10 - TERMINATION</FONT></U></B></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">10.1</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Term.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2"><B></B>The Trust created by this agreement shall continue until the earliest to occur of the following events:</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">no outstanding Exchangeable Shares are held by a Holder;</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">each of the Corporation and ParentCo elects in writing to terminate the Trust and such termination is approved by the Holders of the Exchangeable Shares in accordance with Section 10.2 of the Exchangeable
Share Provisions; and</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">21 years after the death of the last survivor of the descendants of Her Majesty Queen Elizabeth II of the United Kingdom of Great Britain and Northern Ireland living on the date of the creation of the
Trust.</FONT></P>
</TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">10.2</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Survival of Agreement. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">This agreement shall survive any termination of the Trust and shall continue until there are no Exchangeable</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">Shares outstanding held by a Holder; provided, however, that the provisions of Articles 6 and 7 hereof shall survive any such termination of this agreement.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="CENTER"><B><U><FONT FACE="Times New Roman" SIZE="2">ARTICLE 11 - GENERAL</FONT></U></B></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">11.1</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Severability. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;</B>If any provision of this agreement is held to be invalid, illegal or unenforceable, the validity, legality or</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">enforceability of the remainder of this agreement shall not in any way be</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<P><B><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman" SIZE="2"> </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></P>

<P></P>
<P><FONT FACE="Times New Roman" SIZE="2"> affected or impaired thereby, and the agreement shall be carried out as nearly as possible in accordance with its original terms and conditions.</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">11.2</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Enurement. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">This agreement shall be binding upon and inure to the benefit of the parties hereto and their respective</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2"> successors and permitted assigns and to the benefit of the Holders.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">11.3</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;</B></FONT></B></TD>
<TD COLSPAN="4"><B><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;</B></FONT><U><FONT FACE="Times New Roman" SIZE="2">Notices to Parties. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">All notices and other communications between the parties hereunder shall be in writing and shall be deemed to</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2"> have been given if delivered personally or by confirmed telecopy to the parties at the following addresses (or at such other address for such party as shall be specified in like
notice):</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">if to ParentCo to:</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2">Accenture Ltd
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">c/o Accenture LLP
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">1661 Page Mill Road
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">Palo Alto, CA 94304</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2">Attention: President
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">Fax: (650) 213-2222</FONT></P>
</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">if to the Corporation to:</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2">Accenture Canada Holdings Inc.
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">5450 Explorer Drive
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">Suite 400
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">Mississauga, ON L4W 5M1</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2">Attention: President
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">Fax: (416) 641-5090</FONT></P>
</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman" SIZE="2"> </FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD COLSPAN="3">
<P><FONT FACE="Times New Roman" SIZE="2">if to the Trustee to:</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2">CIBC Mellon Trust Company
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">320 Bay Street
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">6th Floor
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">Toronto, Ontario
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">M5H 4A6</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2">Attention: Sophie Arcaro, Account Manager
<BR>
</FONT><FONT FACE="Times New Roman" SIZE="2">Fax:&nbsp;(416) 643-5570</FONT></P>
</TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Any notice or other communication given personally shall be deemed to have been given and received upon</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">delivery thereof, and if given by telecopy shall be deemed to have been given and received on the date of receipt thereof unless such day is not a Business Day in which case it shall be deemed to
have been given and received upon the immediately following Business Day.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">11.4</FONT></B></TD>
<TD COLSPAN="4"><B><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;</B></FONT><U><FONT FACE="Times New Roman" SIZE="2">Notice to Holders. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Any and all notices to be given and any documents to be sent to any Holders may be given or sent to the address</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="bottom">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">of such Holder shown on the register of Holders of Exchangeable Shares in any manner permitted by the Exchangeable Share Provisions and shall be deemed to be received (if given or sent in such
manner) at the time specified in such Exchangeable Share Provisions, the provisions of which Exchangeable Share Provisions shall apply mutatis mutandis to notices or documents as aforesaid sent to such Holders.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">11.5</FONT><FONT FACE="Times New Roman" SIZE="2"><B></B></FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Risk of Payments by Post. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Whenever payments are to be made or documents are to be sent to any Holder by the Trustee, by the</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">Corporation or by ParentCo or by such Holder to the Trustee or to ParentCo or the Corporation, the making of such payment or sending of such document sent through the post shall be at the risk of
the Corporation or ParentCo, in the case of payments made or documents sent by the Trustee or the Corporation or ParentCo, and the Holder, in the case of payments made or documents sent by the Holder.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">11.6</FONT><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></B></TD>
<TD COLSPAN="4"><B><FONT FACE="Times New Roman" SIZE="2"></FONT><U><FONT FACE="Times New Roman" SIZE="2">Counterparts. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">This agreement may be executed in counterparts, each of which shall be deemed an original, but all of which</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">taken together shall constitute one and the same instrument.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">11.7</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Governing Law.</FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4"><FONT FACE="Times New Roman" SIZE="2">This agreement shall be construed and enforced in accordance with the laws of the Province of Ontario and the</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">laws of Canada applicable therein.</FONT></TD>
</TR>
</TABLE>
<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></P>

<P><B><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman" SIZE="2"> </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></P>

<P><B><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U><FONT FACE="Times New Roman" SIZE="2"> </FONT></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></P>

<P></P>
<P><B><FONT FACE="Times New Roman Bold" SIZE="2"></FONT></B></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%"><B><FONT FACE="Times New Roman Bold" SIZE="2">11.8</FONT></B></TD>
<TD COLSPAN="4"><B><U><FONT FACE="Times New Roman" SIZE="2">Permitted Assignment. </FONT></U></B></TD>
</TR>
</TABLE>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD COLSPAN="4" VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">ParentCo may assign any or all of its rights and obligations under this agreement to any Subsidiary of ParentCo,</FONT></TD>
</TR>
</TABLE>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="5"><FONT FACE="Times New Roman" SIZE="2">organized under the laws of Canada or any province thereof, provided that each of ParentCo and such Subsidiary shall thereafter be jointly and severally liable for the performance by such
Subsidiary of the obligations of ParentCo pursuant to this agreement. Any and all of the obligations of ParentCo may be performed and satisfied by any such Subsidiary of ParentCo, except that nothing in this Section 11.8 shall permit any change to
the rights, privileges, restrictions and conditions attaching to the Class A Shares or the Exchangeable Shares.</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<P><B><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><U></U></B></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></P>
<P>&nbsp;</P>

<P></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>IN WITNESS WHEREOF, the parties hereby have caused this agreement to be
duly executed as of the date first above written.</FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="40%">&nbsp;</TD>
<TD COLSPAN="3" WIDTH="53%">
<P><FONT FACE="Times New Roman" SIZE="2"><B>ACCENTURE LTD</B>
<BR>

<BR>

<BR>
By:___________________________
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael L. Emmons
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Managing Director</FONT>
<BR>
</P>

<P><FONT FACE="Times New Roman" SIZE="2"><B>ACCENTURE CANADA HOLDINGS INC.</B>
<BR>

<BR>
By: ______________________________
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;David E. Seibel
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2"><B> CIBC MELLON TRUST COMPANY</B>
<BR>

<BR>

<BR>
By: ______________________________
<BR>
Name:
<BR>
Title:</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2">
<BR>
By: ______________________________
<BR>
Name:
<BR>
Title:</FONT></P>
</TD>
</TR>
</TABLE>
 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.13
<SEQUENCE>10
<FILENAME>dex1013.htm
<DESCRIPTION>FORM OF LETTER AGREEMENT 5/21/01
<TEXT>

<HTML>
<HEAD>
 <TITLE>FORM OF LETTER AGREEMENT 5/21/01</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">

<P ALIGN="right">Exhibit 10.13
<BR>
</P>
<P ALIGN="right"><FONT FACE="Times New Roman">May 21, 2001</FONT></P>
<P><FONT FACE="Times New Roman">Accenture Ltd
<BR>
1661 Page Mill Road
<BR>
Palo Alto, CA 94304 </FONT></P>

<P><FONT FACE="Times New Roman">Ladies and Gentlemen: </FONT></P>

<P><FONT FACE="Times New Roman">(1) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference is made to the Voting Agreement, dated as of April 18, 2001 (as amended, supplemented, waived or otherwise modified in accordance with its terms, the &quot;Voting
Agreement&quot;; terms defined therein used herein as so defined), among Accenture Ltd, an exempted company limited by shares organized under the laws of Bermuda, and the covered persons from time to time party thereto. </FONT></P>

<P><FONT FACE="Times New Roman">(2) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stichting Naritaweg I, with seat in Amsterdam, the Netherlands, Naritaweg 155, a legal entity established under the law of the Netherlands (the &quot;Foundation&quot;), hereby agrees
that it will not Transfer any Common Shares without the consent of the Partners Representatives, which consent may be conditioned upon the requirement that any transferee become a party to the Voting Agreement and/or any other agreement that the
Partners Representatives may require in their sole discretion.</FONT></P>

<P><FONT FACE="Times New Roman">(3) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Foundation understands and agrees that all Common Shares beneficially owned by the Foundation shall, at the sole discretion of the Partners Representatives, be registered in the
name of a nominee for the Foundation and/or shall be held in the custody of a custodian until otherwise determined by the Partners Representatives and, by its signature hereto, the Foundation appoints the Partners Representatives, and each member
thereof individually, with full power of substitution and resubstitution, its true and lawful attorney-in-fact to assign, endorse and register for transfer into such nominee's name or deliver to such custodian any such Common Shares which are not so
registered or so held, as the case may be, and to enter into any custody agreement with respect to such Common Shares, granting to such attorneys, and each of them, full power and authority to do and perform each and every act and thing whatsoever
that such attorney or attorneys may deem necessary, advisable or appropriate to carry out fully the intent of this paragraph 3 of this letter agreement as the Foundation might or could do personally, hereby ratifying and confirming all acts and
things that such attorney or attorneys may do or cause to be done by virtue of this power of attorney. It is understood and agreed by the Foundation that this appointment, empowerment and authorization may be exercised by the aforementioned persons
with respect to all Common Shares of the Foundation, and held of record by another person. The form of the custody agreement and the identity of the custodian and/or nominee shall be as determined by the Partners Representatives from time to time.
</FONT></P>

<P><FONT FACE="Times New Roman">(4) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) By its signature hereto, the Foundation<B> </B>hereby (i) gives the Partners Representatives, and each member thereof individually, with full power of substitution and
resubstitution, an irrevocable proxy to vote or otherwise act with respect to all of the Foundation's Common Shares, as fully, to the same extent and with the same effect as the Foundation might or could do under any applicable laws or regulations
governing the rights and powers of shareholders of a Bermuda company, (ii) directs that such proxy shall be voted in connection with such matters as are the subject of a Preliminary Vote as provided in the Voting Agreement in accordance with such
Preliminary Vote, (iii) authorizes the holder of such proxy to vote on such other matters as may come before a meeting</FONT></P>

<P></P>

<P><FONT FACE="Times New Roman">are related, directly or indirectly, to the matter which was the subject of the Preliminary Vote as the aforementioned persons see fit in their discretion but in a manner consistent with the Preliminary Vote, and (iv)
authorizes the holder of such proxy to vote on such other matters as may come before a meeting of shareholders of Accenture Ltd or any adjournment thereof (including matters related to adjournment thereof) as the aforementioned persons see fit in
their discretion but not to cast any vote under this clause (iv) which is inconsistent with the Preliminary Vote or which would achieve an outcome that would frustrate the intent of the Preliminary Vote. The Foundation<B> </B>hereby affirms that
this proxy is given as a term of this letter agreement and as such is coupled with an interest and is irrevocable. It is further understood and agreed by the Foundation that this proxy may be exercised by the aforementioned persons with respect to
all Common Shares of the Foundation. </FONT></P>

<P><FONT FACE="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) By its signature hereto, the Foundation<B> </B>appoints the Partners Representatives, and each member thereof individually, with full power of
substitution and resubstitution, its true and lawful attorney-in-fact to direct, in accordance with the provisions of this letter agreement, the voting of any Common Shares held of record by any other person but beneficially owned by the Foundation,
granting to such attorneys, and each of them, full power and authority to do and perform each and every act and thing whatsoever that such attorney or attorneys may deem necessary, advisable or appropriate to carry out fully the intent of Section
4.2 of the Voting Agreement and paragraph 4(a) of this letter agreement as the Foundation might or could do personally, hereby ratifying and confirming all acts and things that such attorney or attorneys may do or cause to be done by virtue of this
power of attorney. It is understood and agreed by the Foundation that this appointment, empowerment and authorization may be exercised by the aforementioned persons with respect to all Common Shares of the Foundation, and held of record by another
person. </FONT></P>

<P><FONT FACE="Times New Roman">(5) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Foundation<B> </B>hereby agrees that it shall comply with, and be bound by Section 2.3, Section 2.5, Section 5.1 and Section 5.4 of the Voting Agreement as if it were an Employee
Covered Person party thereto. </FONT></P>

<P><FONT FACE="Times New Roman">(6) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Foundation<B> </B>agrees to execute such additional documents and take such further action as may be reasonably necessary to effect the provisions of this letter agreement.
</FONT></P>

<P><FONT FACE="Times New Roman">(7) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This letter agreement may not be amended except by an instrument signed in writing by each of Accenture Ltd, the Foundation and the Partners Representatives or waived except by the
party granting the waiver; provided that no consent shall be required from the Partners Representatives if such body shall not exist at the time in question.</FONT></P>

<P><FONT FACE="Times New Roman">(8) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This agreement shall be governed by and construed in accordance with the laws of Bermuda. </FONT></P>

<P></P>
<P>&nbsp;</P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%">&nbsp;</TD>
<TD WIDTH="45%"><FONT FACE="Times New Roman">Very truly yours, </FONT></TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%">&nbsp;</TD>
<TD WIDTH="45%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%">&nbsp;</TD>
<TD WIDTH="45%"><FONT FACE="Times New Roman">STICHTING NARITAWEG I </FONT></TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%">&nbsp;</TD>
<TD WIDTH="45%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%">&nbsp;</TD>
<TD WIDTH="45%"><FONT FACE="Times New Roman">By&nbsp;_________________________________ </FONT></TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%">&nbsp;</TD>
<TD WIDTH="45%"><FONT FACE="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: </FONT></TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman">Acknowledged and agreed: </FONT></TD>
<TD WIDTH="45%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%">&nbsp;</TD>
<TD WIDTH="45%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman">ACCENTURE LTD </FONT></TD>
<TD WIDTH="45%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%">&nbsp;</TD>
<TD WIDTH="45%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman">By&nbsp;_________________________________</FONT></TD>
<TD WIDTH="45%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="0%">&nbsp;</TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: </FONT></TD>
<TD WIDTH="45%">&nbsp;</TD>
</TR>
</TABLE>
<P>&nbsp;</P>

<P>&nbsp;</P>

<P>&nbsp;</P>

<P><FONT FACE="Times New Roman">
<BR>
</FONT></P>

<P>&nbsp;</P>

<P>&nbsp;</P>

<P><FONT FACE="Times New Roman"> </FONT></P>
 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.14
<SEQUENCE>11
<FILENAME>dex1014.htm
<DESCRIPTION>FORM OF LETTER AGREEMENT DATED 5/21/01
<TEXT>

<HTML>
<HEAD>
 <TITLE>FORM OF LETTER AGREEMENT DATED 5/21/01</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">
<P>
<A NAME="TopOfPage"> </A>
</P>
<P ALIGN="right">Exhibit 10.14
<BR>
</P>
<P ALIGN="right"><FONT FACE="Times New Roman">May 21, 2001</FONT></P>
<P><FONT FACE="Times New Roman">Accenture Ltd
<BR>
1661 Page Mill Road
<BR>
Palo Alto, CA 94304 </FONT></P>

<P><FONT FACE="Times New Roman">Ladies and Gentlemen: </FONT></P>

<P><FONT FACE="Times New Roman">(1) &nbsp;&nbsp;&nbsp;&nbsp;Reference is made to the Voting Agreement, dated as of April 18, 2001 (as amended, supplemented, waived or otherwise modified in accordance with its terms, the &quot;Voting Agreement&quot;;
terms defined therein used herein as so defined), among Accenture Ltd, an exempted company limited by shares organized under the laws of Bermuda, and the covered persons from time to time party thereto. </FONT></P>

<P><FONT FACE="Times New Roman">(2) &nbsp;&nbsp;&nbsp;&nbsp;Stichting Naritaweg II, with seat in Amsterdam, the Netherlands, Naritaweg 155, a legal entity established under the law of the Netherlands (the &quot;Foundation&quot;), hereby agrees that
it will not Transfer any Common Shares without the consent of the Partners Representatives, which consent may be conditioned upon the requirement that any transferee become a party to the Voting Agreement and/or any other agreement that the Partners
Representatives may require in their sole discretion. </FONT></P>

<P><FONT FACE="Times New Roman">(3) &nbsp;&nbsp;&nbsp;&nbsp;The Foundation understands and agrees that all Common Shares beneficially owned by the Foundation shall, at the sole discretion of the Partners Representatives, be registered in the name of
a nominee for the Foundation and/or shall be held in the custody of a custodian until otherwise determined by the Partners Representatives and, by its signature hereto, the Foundation appoints the Partners Representatives, and each member thereof
individually, with full power of substitution and resubstitution, its true and lawful attorney-in-fact to assign, endorse and register for transfer into such nominee's name or deliver to such custodian any such Common Shares which are not so
registered or so held, as the case may be, and to enter into any custody agreement with respect to such Common Shares, granting to such attorneys, and each of them, full power and authority to do and perform each and every act and thing whatsoever
that such attorney or attorneys may deem necessary, advisable or appropriate to carry out fully the intent of this paragraph 3 of this letter agreement as the Foundation might or could do personally, hereby ratifying and confirming all acts and
things that such attorney or attorneys may do or cause to be done by virtue of this power of attorney. It is understood and agreed by the Foundation that this appointment, empowerment and authorization may be exercised by the aforementioned persons
with respect to all Common Shares of the Foundation, and held of record by another person. The form of the custody agreement and the identity of the custodian and/or nominee shall be as determined by the Partners Representatives from time to time.
</FONT></P>

<P><FONT FACE="Times New Roman">(4) &nbsp;&nbsp;&nbsp;&nbsp;(a) By its signature hereto, the Foundation<B> </B>hereby (i) gives the Partners Representatives, and each member thereof individually, with full power of substitution and resubstitution,
an irrevocable proxy to vote or otherwise act with respect to all of the Foundation's Common Shares, as fully, to the same extent and with the same effect as the Foundation might or could do under any applicable laws or regulations governing the
rights and powers of shareholders of a Bermuda company, (ii) directs that such proxy shall be voted in connection with such matters as are the subject of a Preliminary Vote as provided in the Voting Agreement in accordance with such Preliminary
Vote, (iii) authorizes the holder of such proxy to vote on such other matters as may come before a meeting of shareholders of Accenture Ltd or any adjournment thereof and as</FONT></P>

<P><FONT FACE="Times New Roman"> </FONT></P>
<UL> <UL> <UL> <UL> <UL> <UL> </UL>
</UL>
</UL>
</UL>
</UL>
</UL>
<P><FONT FACE="Times New Roman"> of shareholders of Accenture Ltd or any adjournment thereof (including matters related to adjournment thereof) as the aforementioned persons see fit in their discretion but not to cast any vote under this clause (iv)
which is inconsistent with the Preliminary Vote or which would achieve an outcome that would frustrate the intent of the Preliminary Vote. The Foundation<B> </B>hereby affirms that this proxy is given as a term of this letter agreement and as such
is coupled with an interest and is irrevocable. It is further understood and agreed by the Foundation that this proxy may be exercised by the aforementioned persons with respect to all Common Shares of the Foundation. </FONT></P>

<P><FONT FACE="Times New Roman"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) By its signature hereto, the Foundation<B> </B>appoints the Partners Representatives, and each member thereof individually, with full power of
substitution and resubstitution, its true and lawful attorney-in-fact to direct, in accordance with the provisions of this letter agreement, the voting of any Common Shares held of record by any other person but beneficially owned by the Foundation,
granting to such attorneys, and each of them, full power and authority to do and perform each and every act and thing whatsoever that such attorney or attorneys may deem necessary, advisable or appropriate to carry out fully the intent of Section
4.2 of the Voting Agreement and paragraph 4(a) of this letter agreement as the Foundation might or could do personally, hereby ratifying and confirming all acts and things that such attorney or attorneys may do or cause to be done by virtue of this
power of attorney. It is understood and agreed by the Foundation that this appointment, empowerment and authorization may be exercised by the aforementioned persons with respect to all Common Shares of the Foundation, and held of record by another
person. </FONT></P>

<P><FONT FACE="Times New Roman">(5) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Foundation<B> </B>hereby agrees that it shall comply with, and be bound by Section 2.3, Section 2.5, Section 5.1 and Section 5.4 of the Voting Agreement as if it were an Employee
Covered Person party thereto. </FONT></P>

<P><FONT FACE="Times New Roman">(6) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Foundation<B> </B>agrees to execute such additional documents and take such further action as may be reasonably necessary to effect the provisions of this letter agreement.
</FONT></P>

<P><FONT FACE="Times New Roman">(7) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This letter agreement may not be amended except by an instrument signed in writing by each of Accenture Ltd, the Foundation and the Partners Representatives or waived except by the
party granting the waiver; provided that no consent shall be required from the Partners Representatives if such body shall not exist at the time in question.</FONT></P>

<P><FONT FACE="Times New Roman">(8) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This agreement shall be governed by and construed in accordance with the laws of Bermuda.</FONT></P>

<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0" ALIGN="center">
<TR>
<TD WIDTH="215">&nbsp;</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281"><FONT FACE="Times New Roman">Very truly yours, </FONT></TD>
</TR>
<TR>
<TD WIDTH="215">&nbsp;</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="215">&nbsp;</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281"><FONT FACE="Times New Roman">STICHTING NARITAWEG II </FONT></TD>
</TR>
<TR>
<TD WIDTH="215">&nbsp;</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="215">&nbsp;</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281"><FONT FACE="Times New Roman">By_________________________________</FONT></TD>
</TR>
<TR>
<TD WIDTH="215">&nbsp;</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281"><FONT FACE="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:
<BR>
</FONT><FONT FACE="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: </FONT></TD>
</TR>
<TR>
<TD WIDTH="215"><FONT FACE="Times New Roman">Acknowledged and agreed: </FONT></TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="215">&nbsp;</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="215"><FONT FACE="Times New Roman">ACCENTURE LTD </FONT></TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="215">&nbsp;</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="215"><FONT FACE="Times New Roman">By_________________________________</FONT></TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="215">
<P><FONT FACE="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:
<BR>
</FONT><FONT FACE="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: </FONT></P>
</TD>
<TD WIDTH="104">&nbsp;</TD>
<TD WIDTH="281">&nbsp;</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>

<P>&nbsp;</P>

<P><FONT FACE="Times New Roman"> </FONT></P>
<P>&nbsp;</P>

<P>&nbsp;</P>

<P><FONT FACE="Times New Roman"> </FONT></P>
 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21.1
<SEQUENCE>12
<FILENAME>dex211.htm
<DESCRIPTION>SUBSIDIARIES OF THE REGISTRANT
<TEXT>

<HTML>
<HEAD>
 <TITLE>SUBSIDIARIES OF THE REGISTRANT</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">

<P ALIGN="right"><FONT FACE="Times New Roman">Exhibit 21.1</FONT></P>
<P ALIGN="CENTER"><FONT FACE="Times New Roman">Subsidiaries of the Registrant</FONT></P>

<P><FONT FACE="Times New Roman">Certain subsidiaries of the Registrant and their subsidiaries are listed below. The names of certain subsidiaries, which considered in the aggregate would not constitute a significant subsidiary, have been
omitted.</FONT></P>
<P><CENTER>
<TABLE>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><B><U><FONT FACE="Times New Roman">Name </FONT></U></B></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><B><U><FONT FACE="Times New Roman">Country of Organization</FONT></U></B></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Sistemes Consulting S.A</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Andorra</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Argentina</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Solutions Pty Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Australia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Holdings Pty Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Australia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Services Pty Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Australia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture MSL Pty Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Australia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Australia Holdings Pty Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Australia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture 1</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Australia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture 2</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Australia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture 3</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Australia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Diversiti Pty ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Australia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture GmbH</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Austria</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Unternehmensberatung GmbH</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Austria</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture LLC</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Azerbaijan</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture S.A.\N.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Belgium</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture PBM S.C.R.L.\C.V.B.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Belgium</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">BPM Belgium NV</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Belgium</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Technology Ventures S.P.R.L.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Belgium</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Bermuda</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Partners Security Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Bermuda</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Australia Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Bermuda</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Australia (1) Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Bermuda</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Australia (2) Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Bermuda</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Australia (3) Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Bermuda</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Services, s.r.o.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Czech Republic</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">ENMAX Technology Bolivia S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Bolivia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture do Brazil Ltda</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Brazil</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Canada Holdings Inc.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Canada</FONT></P>
</TD>
</TR>
</TABLE>
</CENTER>

<P><FONT FACE="Times New Roman"></FONT> </P>
<TABLE ALIGN="center">
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><B><U><FONT FACE="Times New Roman">Name </FONT></U></B></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><B><U><FONT FACE="Times New Roman">Country of Organization</FONT></U></B></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&nbsp;</TD>
<TD VALIGN="TOP" WIDTH="288">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture, Inc</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Canada</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Chile Asesorias y Servicios Ltda</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Chile</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture (Shanghai) Co Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">China</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Ltda</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Colombia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture I/S</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Denmark</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Denmark Holdings A/S</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Denmark</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Avenade ApS</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Denmark</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Australia Holdings ApS</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Denmark</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Enmaxtechnology Ecuador S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Ecuador</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Holdings Oy</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Finland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Oy</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Finland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Software Oy</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Finland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture S.A.S.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">France</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture GmbH</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Germany</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Dienstleistungen GmbH</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Germany</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">UNAMITE GmbH</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Germany</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture plc</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Gibraltar</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture US Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Gibraltar</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Finance Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Gibraltar</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Minority IV Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Gibraltar</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Technology Ventures (Gibraltar) Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Gibraltar</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Greece</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture PBM S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Greece</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Company Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Hong Kong</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Hong Kong</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Bulasky Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Hong Kong</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Tanacsado Korlatolt Felelossegu Tarsasag KFT</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Hungary</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture India Private Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">India</FONT></P>
</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman"></FONT></P>
<TABLE ALIGN="center">
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><B><U><FONT FACE="Times New Roman">Name </FONT></U></B></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><B><U><FONT FACE="Times New Roman">Country of Organization</FONT></U></B></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&nbsp;</TD>
<TD VALIGN="TOP" WIDTH="288">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Services Private Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">India</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Indonesia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">P.T. Accenture</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Indonesia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Ireland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Ireland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture European Service Center Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Ireland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Israel</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture SpA</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Italy</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Holdings Italia SRL</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Italy</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">IT Next SpA</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Italy</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Itaca Service SpA</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Italy</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">O.P.E.R.A. S.R.L.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Italy</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Marketplug SpA</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Italy</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Kabushiki Kaisha</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Japan</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Luxembourg</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Holdings and Finance Sarl</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Luxembourg</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Participations Sarl</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Luxembourg</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Ventures Sarl</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Luxembourg</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture S.C.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Luxembourg</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture International Sarl</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Luxembourg</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Minority III Norway 1 S.C.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Luxembourg</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Minority III Norway 2 S.C.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Luxembourg</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Sdn Bhd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Malaysia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Hikkayha Jaya Sdn. Bhd.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Malaysia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Everest Realty Sdn. Bhd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Malaysia</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">Accenture Solutions Sdn. Bhd.</TD>
<TD VALIGN="TOP" WIDTH="288">Malaysia</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&nbsp;</TD>
<TD VALIGN="TOP" WIDTH="288">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Mauritius</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">Beaumont Holdings Ltd</TD>
<TD VALIGN="TOP" WIDTH="288">Mauritius</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&nbsp;</TD>
<TD VALIGN="TOP" WIDTH="288">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture S.C.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Mexico</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture BPM S.A. de C.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Mexico</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Holdings B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Branch Holdings B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Services B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Finance B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Properties (2) B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Echitaa Properties B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman"></FONT></P>
<TABLE ALIGN="center">
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><B><U><FONT FACE="Times New Roman">Name </FONT></U></B></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><B><U><FONT FACE="Times New Roman">Country of Organization</FONT></U></B></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&nbsp;</TD>
<TD VALIGN="TOP" WIDTH="288">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture India Holdings B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Middle East B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Central Europe B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Greece B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Australia Holding B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Korea BV</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Technology Ventures B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Participations B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Minority I B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Minority II B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">H.J. Blom Advies B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Ivo H.J. Consulting B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Mark Hillen Services B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Prudens B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Alexcenture B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Brood Op De Plank B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Rolf Ketelaar Business Consulting B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">MJB Consulting B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Bosmann Management Consulting B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Ter Braak Management Consultants B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Do B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Het Aanbeeld Advies B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">EJB Werk B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Hupi Advies B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Sabik Advies B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Frevinka B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Diep Consulting B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Pits Top Consulting B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Zwaaneveld Advies B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">P. B. Boelens Services B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Kay Nadine Operating B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Anja Groenewoud Advies B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Trophy Advies B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Peter Karremans Consulting B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Marc Vrouenraets Consulting B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Rosework B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Myriac Consulting B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Velders Advies B.V.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Netherlands</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture New Zealand Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">New Zealand</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">New Zealand</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">New Zealand</FONT></P>
</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman"></FONT></P>
<TABLE ALIGN="center">
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><B><U><FONT FACE="Times New Roman">Name </FONT></U></B></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><B><U><FONT FACE="Times New Roman">Country of Organization</FONT></U></B></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Nigeria</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture A.N.S.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Norway</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Software Products A.N.S.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Norway</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture A.S.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Norway</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Capital A.S.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Norway</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture, Inc</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Philippines</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Sp. z.o.o.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Poland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Consultores de Gestao S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Portugal</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Coritel Solucoes Informaticas Integradaqs S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Portugal</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Pte Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Singapore</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture software Pte Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Singapore</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture s.r.o.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Slovak Republic</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture (South Africa) Pty Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">South Africa</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Services (South Africa) Pty Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">South Africa</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture (South Africa) Trustees Pty Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">South Africa</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Autris Pty Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">South Africa</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Antech Pty Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">South Africa</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">South Korea</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture S.L.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Spain</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Coritel S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Spain</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Integration Services S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Spain</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Alnova Technologies Corporation S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Spain</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Business Process Management S.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Spain</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Informacio I Technologia de Cataluna S.L.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Spain</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Information de Euskadi S.L.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Spain</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Formacion Ssociedad Civil</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Spain</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Cash Management Consulting S.L.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Spain</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Coritel Soluciones Integrates S.L.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Spain</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture A.B.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Sweden</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture k.B.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Sweden</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Solutions A.B.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Sweden</FONT></P>
</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman"></FONT></P>
<TABLE ALIGN="center">
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><B><U><FONT FACE="Times New Roman">Name </FONT></U></B></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><B><U><FONT FACE="Times New Roman">Country of Organization</FONT></U></B></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture A.G.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Switzerland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Partners S.C.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Switzerland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Holding GmbH</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Switzerland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Global Services GmbH</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Switzerland</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Co Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Taiwan</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Co ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Thailand</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Solutions Co Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Thailand</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Technologies Co Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Thailand</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Danismanlik Limited Sirketi</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Turkey</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture BPM Is Yonetimi Limited Sirketi</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Turkey</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture A</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture B</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture C</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture D</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture E</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture F</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture G</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture H</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture I</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture J</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture K</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture L</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture M</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture N</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture O</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture P</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture R</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Scientific Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Software ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Management Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Cooperate Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">The Accenture Group</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Services Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture (UK)</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Pension Trustees Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Retirement Savings Plan Ltd</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United Kingdom</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture, Inc</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture LLC</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman"></FONT></P>
<TABLE ALIGN="center">
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><B><U><FONT FACE="Times New Roman">Name </FONT></U></B></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><B><U><FONT FACE="Times New Roman">Country of Organization</FONT></U></B></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&nbsp;</TD>
<TD VALIGN="TOP" WIDTH="288">&nbsp;</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Acceneture LLP</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Newco, Inc.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Sub Inc.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture 2, Inc.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">BPM Technical Resources LLC</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Digital Asset Management Co.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Epylon Corporation</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Indeliq, Inc.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Navitaire Inc.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">BABCN LLC</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">United States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">TekraM LLC</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Utiligent LLC</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">VIA World Network LLC</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture Financial Corporation</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Willow Investment, Inc</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Willow Investment Properties, Inc</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Proquire LLC</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Unites States</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">&#160; </TD>
<TD VALIGN="TOP" WIDTH="288">&#160; </TD>
</TR>
<TR>
<TD VALIGN="TOP" WIDTH="280">
<P><FONT FACE="Times New Roman">Accenture C.A.</FONT></P>
</TD>
<TD VALIGN="TOP" WIDTH="288">
<P><FONT FACE="Times New Roman">Venezuela</FONT></P>
</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<P>&nbsp; </P>
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</TABLE>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>13
<FILENAME>dex231.htm
<DESCRIPTION>CONSENT OF PRICEWATERHOUSECOOPERS LLP
<TEXT>

<HTML>
<HEAD>
 <TITLE>CONSENT OF PRICEWATERHOUSECOOPERS LLP</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF">
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="right"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"> <B>Exhibit 23.1</B></FONT></DIV>
<DIV><FONT SIZE="6">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times"><B>CONSENT OF INDEPENDENT ACCOUNTANTS</B></FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the use in this Registration Statement on Form S-1 of our report dated January 31, 2001 relating to
the combined financial statements of Accenture, which appears in such Registration Statement. We also consent to the reference to us under the heading &#147;Experts&#148; in such Registration Statement.</FONT></DIV>
<DIV><FONT SIZE="5">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">PricewaterhouseCoopers LLP</FONT></DIV>
<DIV><FONT SIZE="2">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">Chicago, Illinois</FONT></DIV>


<DIV ALIGN="left"><FONT SIZE="2" COLOR="#000000" FACE="'Times New Roman', Times">June 28, 2001</FONT></DIV>

 </BODY>
</HTML>
</TEXT>
</DOCUMENT>
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<SEQUENCE>14
<FILENAME>g9046890468balan04.jpg
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