<SUBMISSION>
<ACCESSION-NUMBER>0000950133-02-001705
<TYPE>DEF 14A
<PUBLIC-DOCUMENT-COUNT>5
<PERIOD>20020618
<FILING-DATE>20020430
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>COSTAR GROUP INC
<CIK>0001057352
<ASSIGNED-SIC>7374
<IRS-NUMBER>522091508
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEF 14A
<ACT>34
<FILE-NUMBER>000-24531
<FILM-NUMBER>02627685
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2 BETHESDA METRO CENTER
<STREET2>10TH FLOOR
<CITY>BETHESDA
<STATE>MD
<ZIP>20814
<PHONE>3012158300
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2 BETHESDA METRO CENTER
<CITY>BETHESDA
<STATE>MD
<ZIP>20814
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>w60092def14a.htm
<DESCRIPTION>DEF 14A PROXY STATEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>def14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B>SCHEDULE 14A</B>

<DIV align="center">
<B>(Rule&nbsp;14a-101)</B>
</DIV>

<P align="center">
<B>INFORMATION REQUIRED IN PROXY STATEMENT</B>

<P align="center">
<B>SCHEDULE 14A INFORMATION</B>

<DIV align="center">
<B>Proxy Statement Pursuant to Section 14(a) of the
Securities</B>
</DIV>

<DIV align="center">
<B>Exchange Act of 1934 (Amendment No.&nbsp;&nbsp;)</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="47%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2">Filed by the
        Registrant&nbsp;<FONT face="wingdings">&#120;</FONT>
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2">Filed by a Party other than the
        Registrant<FONT face="wingdings">&#111;</FONT>
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2">Check the appropriate box:
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Preliminary
        Proxy Statement
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top">
        <FONT size="2">&nbsp;Confidential, For Use of the Commission
        Only (as permitted by Rule&nbsp;14a-6(e)(2))
        </FONT></TD>
</TR>

<TR>
        <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2"><FONT face="wingdings">&#120;</FONT>&nbsp;Definitive
        Proxy Statement
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Definitive
        Additional Materials
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD colspan="3" align="left" valign="top">
        <FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Soliciting
        Material Under Rule&nbsp;14a-12
        </FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">
COSTAR GROUP, INC.

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<DIV align="center">
(Name of Registrant as Specified In Its Charter)
</DIV>

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<DIV align="center">
(Name of Person(s) Filing Proxy Statement, if Other Than the
Registrant)
</DIV>

<P align="left">
Payment of Filing Fee (Check the appropriate box):

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT face="wingdings">&#120;</FONT>&nbsp;No fee required.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT face="wingdings">&#111;</FONT>&nbsp;Fee computed on table
below per Exchange Act Rules&nbsp;14a-6(i)(4) and 0-11.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(1)&nbsp;Title of each class of securities to which transaction
applies:

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(2)&nbsp;Aggregate number of securities to which transaction
applies:

<P align="left">
<HR size="1" width="100%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="3%"></TD>
        <TD width="4%"></TD>
        <TD width="93%"></TD>
</TR>

<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>(3)&nbsp;</TD>
        <TD align="left">
        Per unit price or other underlying value of transaction computed
        pursuant to Exchange Act Rule&nbsp;0-11 (Set forth the amount on
        which the filing fee is calculated and state how it was
        determined):</TD>
</TR>

</TABLE>

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(4)&nbsp;Proposed maximum aggregate value of transaction:

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(5)&nbsp;Total fee paid:

<P align="left">
<HR size="1" width="100%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="3%"></TD>
        <TD width="3%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT face="wingdings">&#111;</FONT>&nbsp;</TD>
        <TD align="left">
        Fee paid previously with preliminary materials:</TD>
</TR>

</TABLE>

<P align="left">
<HR size="1" width="100%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="3%"></TD>
        <TD width="3%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT face="wingdings">&#111;</FONT>&nbsp;</TD>
        <TD align="left">
        Check box if any part of the fee is offset as provided by
        Exchange Act Rule&nbsp;0-11(a)(2) and identify the filing for
        which the offsetting fee was paid previously. Identify the
        previous filing by registration statement number, or the form or
        schedule and the date of its filing.</TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(1)&nbsp;Amount Previously Paid:

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(2)&nbsp;Form, Schedule or Registration Statement No.:

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(3)&nbsp;Filing Party:

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(4)&nbsp;Date Filed:

<P align="left">
<HR size="1" width="100%" align="left" noshade>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center">
 <IMG src="w60092costarl4.gif" alt="(COSTAR LOGO)">
</DIV>

<P align="right">
<FONT size="2">May&nbsp;1, 2002
</FONT>

<P align="left">
<FONT size="2">Dear Stockholder:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">You are cordially invited to attend the 2002
Annual Meeting of Stockholders of CoStar Group, Inc., to be held
at 11:00&nbsp;a.m. on Tuesday, June&nbsp;18, 2002 at 2 Bethesda
Metro Center, Bethesda, Maryland 20814.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">At the Annual Meeting, you will be asked to elect
six directors, to ratify the appointment of Ernst &#38; Young
LLP as the Company&#146;s independent public auditors for 2002
and to approve an amendment to the CoStar Group, Inc. 1998 Stock
Incentive Plan. The accompanying Notice of 2002 Annual Meeting
of Stockholders and Proxy Statement describe these matters.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors recommends that
stockholders vote in favor of each of these proposals.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Whether or not you plan to attend the meeting in
person, please return your executed proxy card in the enclosed
postage prepaid and addressed envelope, vote over the Internet,
or vote over the phone, and your shares will be voted in
accordance with your wishes. Please review the instructions on
the proxy card regarding each of these voting options.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="38%"></TD>
	<TD width="62%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Sincerely,
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<IMG src="w60092w60092s1.gif" alt="Andrew Florance Sig"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">ANDREW C. FLORANCE
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<I><FONT size="2">President and Chief Executive
	Officer</FONT></I></TD>
</TR>

</TABLE>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<!-- link1 "COSTAR GROUP, INC." -->

<P align="center">
<B><FONT size="4">COSTAR GROUP, INC.</FONT></B>

<P align="center">
<B>May&nbsp;1, 2002</B>

<P align="center">
<B>NOTICE OF 2002 ANNUAL MEETING OF STOCKHOLDERS</B>

<DIV align="center">
<B>TO BE HELD TUESDAY, JUNE 18, 2002</B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The 2002 Annual Meeting of Stockholders (the
&#147;Annual Meeting&#148;) of CoStar Group, Inc.
(&#147;we&#148; or the &#147;Company&#148;) will be held at 2
Bethesda Metro Center, Bethesda, Maryland 20814, at
11:00&nbsp;a.m. on Tuesday, June&nbsp;18, 2002, for the
following purposes:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">1.&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">To elect six directors to hold office until the
	next Annual Meeting of Stockholders, or until their respective
	successors are elected and qualified;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">2.&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">To ratify the appointment of Ernst &#38; Young
	LLP as the Company&#146;s independent public auditors for 2002;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">3.&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">To approve an amendment to the CoStar Group, Inc.
	1998 Stock Incentive Plan; and
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">4.&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">To transact any other business properly presented
	before the Annual Meeting.
	</FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors has fixed Thursday,
April&nbsp;25, 2002 as the record date for determining
stockholders entitled to receive notice of and to vote at the
Annual Meeting (or any adjournment or postponement of it). Only
stockholders of record at the close of business on that date are
entitled to notice of and to vote at the Annual Meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">WE INVITE YOU TO ATTEND THE ANNUAL MEETING IN
PERSON, BUT WHETHER OR NOT YOU EXPECT TO ATTEND, PLEASE MARK,
SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD IN THE
POSTAGE-PAID ENVELOPE PROVIDED, VOTE OVER THE INTERNET, OR VOTE
OVER THE PHONE AS PROMPTLY AS POSSIBLE.</FONT></B>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="38%"></TD>
	<TD width="62%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">By Order of the Board of Directors
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<IMG src="w60092w60092s2.gif" alt="Carla Garrett Sig"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">CARLA J. GARRETT
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<I><FONT size="2">Secretary</FONT></I></TD>
</TR>

</TABLE>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="4">COSTAR GROUP, INC.</FONT></B>

<P align="center">
<B>PROXY STATEMENT</B>

<P align="center">
<B><FONT size="2">ANNUAL MEETING OF STOCKHOLDERS</FONT></B>

<DIV align="center">
<B><FONT size="2">TO BE HELD ON TUESDAY, JUNE 18, 2002</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors of CoStar Group, Inc.
(&#147;we&#148; or the &#147;Company&#148;) solicits your proxy
for use at the Annual Meeting of Stockholders (the &#147;Annual
Meeting&#148;) to be held at 11:00&nbsp;a.m. on Tuesday,
June&nbsp;18, 2002, at 2 Bethesda Metro Center, Bethesda,
Maryland 20814, and at any adjournment or postponement of the
Annual Meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our headquarters are located at 2 Bethesda Metro
Center, Tenth Floor, Bethesda, Maryland 20814. We are mailing
this Proxy Statement and the accompanying proxy card to our
eligible stockholders on or about May&nbsp;1, 2002.
</FONT>

<P align="center">
<B><FONT size="2">OUTSTANDING SECURITIES, VOTING RIGHTS AND
QUORUM</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">At the close of business on the record date,
Thursday April&nbsp;25, 2002, we had 15,727,383 shares of common
stock outstanding and entitled to vote at the Annual Meeting.
Each outstanding share of common stock is entitled to one vote
on each proposal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The presence at the Annual Meeting, in person or
by proxy, of a majority of the outstanding shares as of the
record date constitutes a quorum (the minimum number of shares
required to take action) for the meeting. Both abstentions and
broker non-votes will be counted as shares present for purposes
of obtaining a quorum, but will be disregarded in calculating
the total votes on each of the proposals.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The required vote and the calculation method for
each of the matters scheduled for consideration at the Annual
Meeting are as follows:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Item&nbsp;1&nbsp;&#151; Election of
Directors.</FONT></I><FONT size="2"> Each outstanding share of
common stock is entitled to cast one vote for up to six
nominees. The six nominees who receive the most votes will be
elected as directors.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Item&nbsp;2&nbsp;&#151; Ratification of the
Appointment of Independent Public
Auditors.</FONT></I><FONT size="2"> For stockholders to approve
this proposal, the number of votes cast in favor must exceed the
number of votes cast against.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Item&nbsp;3&nbsp;&#151; Approval of Amendment
to the CoStar Group, Inc. 1998 Stock Incentive
Plan.</FONT></I><FONT size="2"> For stockholders to approve this
proposal, the number of votes cast in favor must exceed the
number of votes cast against.
</FONT>

<P align="center">
<B><FONT size="2">PROXY VOTING AND REVOCATION</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If you have Internet access, you may submit your
proxy from any location in the world by following the &#147;Vote
by Internet&#148; instructions on the proxy card. If you live in
the United States or Canada, you may submit your proxy by
following the &#147;Vote by Phone&#148; instructions on the
proxy card. You may also vote by signing your proxy card, or if
your shares are held in street name, the voting instruction card
included by your broker or nominee, and mailing it in the
enclosed, postage prepaid and addressed envelope. If you
properly complete and execute your proxy card and return it,
vote over the Internet, or vote over the phone before the Annual
Meeting:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="3%"></TD>
        <TD width="1%"></TD>
        <TD width="96%"></TD>
</TR>

<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
        <TD align="left">
        <FONT size="2">Your shares will be voted in accordance with your
        instructions.
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
        <TD align="left">
        <FONT size="2">For any items for which you do not provide
        instructions, your shares will be voted &#147;FOR&#148; the
        item, as recommended by the Board of Directors.
        </FONT></TD>
</TR>

</TABLE>

<P align="center">

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">You may revoke your proxy at any time before it
is voted by:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="1%"></TD>
	<TD width="96%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">delivering to the Corporate Secretary written
	notice that you are revoking your proxy;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">submitting a properly-executed proxy bearing a
	later date; or
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">attending the Annual Meeting and voting in
	person. (If you are not the owner of record, but rather hold
	your shares through a broker or bank, you should take
	appropriate steps to obtain a legal proxy from the owner of
	record if you wish to vote at the Annual Meeting.)
	</FONT></TD>
</TR>

</TABLE>

<!-- link1 "ATTENDING THE MEETING" -->

<P align="center">
<B><FONT size="2">ATTENDING THE MEETING</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Only stockholders, their proxy holders, and our
invited guests may attend the meeting. If you intend to attend
the Annual Meeting, please mark your proxy card accordingly.
Beneficial owners whose ownership is registered under another
party&#146;s name and who plan to attend the meeting in person
should obtain an admission ticket in advance by sending written
requests, along with proof of share ownership, such as a bank or
brokerage firm account statement, to: Mark A. Klionsky, Senior
Vice President of Marketing and Corporate Communications, CoStar
Group, Inc., 2 Bethesda Metro Center, Tenth Floor, Bethesda,
Maryland 20814. Beneficial owners who do not present valid
admission tickets at the Annual Meeting or who have not
pre-registered will be admitted only upon verification of share
ownership, such as a bank or brokerage firm account statement
and photo identification, at the registration counter at the
meeting.
</FONT>

<!-- link1 "ITEM 1" -->

<P align="center">
<B><FONT size="2">ITEM 1</FONT></B>

<!-- link1 "ELECTION OF DIRECTORS" -->

<P align="center">
<B><FONT size="2">ELECTION OF DIRECTORS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board has fixed the number of directors
constituting the Board at six. The Board has nominated five of
the current directors for re-election. John Simon, who currently
serves as a Director, will leave that office when his successor
has been elected. The Board has nominated Christopher J.
Nassetta to replace Mr.&nbsp;Simon. The persons named as proxy
holders on the proxy card will vote your shares FOR each of the
six nominees unless you instruct otherwise on your proxy card.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All of our directors will serve until the next
Annual Meeting of Stockholders or until their successors are
elected and qualified. If any of the nominees should become
unable to serve prior to the Annual Meeting, proxies that do not
withhold authority to vote for directors may be voted for any
other nominee or nominees selected by the Board unless the Board
votes to reduce the size of the Board to the actual number of
nominees. In no event may proxies be voted for a greater number
of persons than the number of nominees named. Information about
each of the nominees appears below.
</FONT>

<P align="left">
<B><FONT size="2">Nominees for the Board of Directors</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Michael R. Klein </FONT></I><FONT size="2">has
been the Chairman of our Board of Directors since he and
Mr.&nbsp;Florance founded the Company in 1987. He has been a
partner of the law firm of Wilmer, Cutler &#38; Pickering since
1974. Mr.&nbsp;Klein serves as a director (and a member of the
executive committee) of Perini Corporation, and as a director of
SRA International, Inc. and Precept, Inc. Mr.&nbsp;Klein is
60&nbsp;years old.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Andrew C. Florance
</FONT></I><FONT size="2">is also one of our founders and has
served as our President and as a director since 1987 and as our
Chief Executive Officer since 1995. Prior to founding the
Company, Mr.&nbsp;Florance held primary responsibility for
developing the first generation of software products for Federal
Filings, an SEC Form&nbsp;13-D tracking service, which was later
acquired by Dow Jones. Mr. Florance was a co-founder of a
commercial real estate information trade association (REI-NEX)
and served on its board from 1993 to 1996. Mr.&nbsp;Florance is
38&nbsp;years old. Mr.&nbsp;Florance received his B.A. in
economics from Princeton University.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">David Bonderman </FONT></I><FONT size="2">is
principal of Texas Pacific Group and an indirect general partner
of TPG Partners I, L.P. and TPG Partners II, L.P.
Mr.&nbsp;Bonderman currently serves on the boards of directors
of Continental Airlines, Inc., Ducati Motor Holding S.p.A.,
Denbury Resources, Inc., ProQuest Company, Ryanair Holdings,
plc, Washington Mutual, Inc., Oxford Health Plans, Inc.,
Magellan Health Services, Inc., ON Semiconductor Corporation,
Seagate Technology, Inc., J. Crew Group, Inc. and Paradyne
Networks, Inc. Mr.&nbsp;Bonderman serves as a member of the
compensation committees of Ducati Motor Holding S.p.A.,
</FONT>

<P align="center"><FONT size="2">2
</FONT>

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<DIV align="left">
<FONT size="2">Washington Mutual, Inc., Seagate Technology, Inc.
and ProQuest Company. He has been one of our directors since
1987. Mr.&nbsp;Bonderman is 59&nbsp;years old.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Warren H. Haber </FONT></I><FONT size="2">has
been, for more than twenty-five years, Chairman of the Board and
Chief Executive of Founders Equity, Inc. and its affiliates,
private investment concerns engaged in the business of
identifying businesses for acquisition in principal transactions
and managing such businesses for their own accounts.
Mr.&nbsp;Haber currently serves on the board of directors of
Warnex Ltd. and Fiber Optic One Ltd. He has served as one of our
directors since 1995. Mr.&nbsp;Haber is 61&nbsp;years old.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Josiah O. Low III
</FONT></I><FONT size="2">has been since August&nbsp;1, 2001 a
Venture Partner of Catterton Partners IV L.P. Prior to that,
Mr.&nbsp;Low worked for 16&nbsp;years at the investment-banking
firm of Credit Suisse First Boston (formerly Donaldson, Lufkin
&#38; Jenrette), where he most recently served as a Managing
Director/ Senior Advisor. Prior to joining Credit Suisse First
Boston in 1985, Mr.&nbsp;Low worked at Merrill Lynch, Pierce,
Fenner &#38; Smith and was a founding Managing Director of the
Merrill Lynch Capital Market Group in 1977. He serves on the
board of directors of Centex Development Co. Mr.&nbsp;Low has
served on our Board of Directors since 1999. Mr.&nbsp;Low is
62&nbsp;years old.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Christopher J. Nassetta
</FONT></I><FONT size="2">has been the President and Chief
Executive Officer of Host Marriott Corporation since May 2000.
Mr.&nbsp;Nassetta joined Host Marriott in 1995 as Executive Vice
President and was elected the Chief Operating Officer in 1997.
Prior to joining Host Marriott, Mr.&nbsp;Nassetta served as
President of Bailey Realty Corporation from 1991 until 1995, and
he had previously served as Chief Development Officer and in
various other positions with The Oliver Carr Company from 1984
through 1991. Mr.&nbsp;Nassetta serves on the board of directors
of Host Marriott. He also serves on the board of trustees and
the compensation committee of Prime Group Realty Trust and as a
member of the McIntire School of Commerce Advisory Board for the
University of Virginia. Mr.&nbsp;Nassetta, who is 39&nbsp;years
old, has not previously served on our Board of Directors.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR
EACH OF THESE NOMINEES.</FONT></B>

<!-- link1 "ITEM 2" -->

<P align="center">
<B><FONT size="2">ITEM 2</FONT></B>

<!-- link1 "RATIFICATION OF THE APPOINTMENT OF INDEPENDENT PUBLIC AUDITORS" -->

<P align="center">
<B><FONT size="2">RATIFICATION OF THE APPOINTMENT</FONT></B>

<DIV align="center">
<B><FONT size="2">OF INDEPENDENT PUBLIC AUDITORS</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee recommended, and the Board
approved, the appointment of Ernst &#38; Young LLP as
independent public auditors for the Company for 2002. The Board
would like stockholders to ratify this appointment, even though
ratification is not legally necessary. If stockholders do not
ratify this appointment, the Board may reconsider such
appointment.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Ernst &#38; Young LLP has served as independent
auditors for the Company, its subsidiaries, and its predecessors
since 1994. A representative from Ernst &#38; Young LLP will
attend the annual meeting, may make a statement, and will be
available to respond to appropriate questions.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The table below sets forth the fees that Ernst
&#38; Young LLP billed the Company for the audit of the
Company&#146;s financial statements for the fiscal year ended
December&nbsp;31, 2001 and review of financial statements for
quarterly periods within that fiscal year, and all other fees
Ernst &#38; Young LLP has billed the Company for services
rendered during the fiscal year ended December 31, 2001:
</FONT>

<CENTER>
<TABLE width="60%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="87%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Audit Fees
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">75,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">All Other Fees
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">45,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Ernst &#38; Young LLP did not provide any
financial information systems design and implementation services
to the Company for the fiscal year ended December 31, 2001.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">THE BOARD OF DIRECTORS RECOMMENDS THAT YOU
VOTE FOR RATIFYING THE APPOINTMENT OF ERNST &#38; YOUNG LLP AS
INDEPENDENT PUBLIC AUDITORS.</FONT></B>

<P align="center"><FONT size="2">3
</FONT>

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<P align="center">
<B><FONT size="2">ITEM 3</FONT></B>

<!-- link1 "APPROVAL OF AMENDMENT TO OUR 1998 STOCK INCENTIVE PLAN" -->

<P align="center">
<B><FONT size="2">APPROVAL OF AMENDMENT TO OUR 1998 STOCK
INCENTIVE PLAN</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors has adopted, subject to
stockholder approval, an amendment to the CoStar Group, Inc.
1998 Stock Incentive Plan (the &#147;Plan&#148;). This amendment
modifies the automatic grant of options awarded to individuals
serving on the Company&#146;s Board of Directors.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Plan currently provides that at the first
meeting of the Board immediately following each annual meeting
of stockholders, each non-employee director serving on the Board
of Directors receives an annual automatic grant of options to
purchase 1,000 shares of common stock of the Company. These
options vest and become exercisable in full one year from the
date of grant, as long as such director is still serving on our
Board of Directors on such vesting date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We are asking our stockholders to approve an
amendment to the Plan so that we can increase the number of
options automatically granted annually to non-employee directors
serving on the Board of Directors, so that we can begin
providing automatic grants of options to the Chairman of the
Board of Directors, and so that we can begin providing automatic
grants of options to the Chairmen of each of our Board
Committees.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Under the amendment to the Plan, at the first
Board meeting after each annual meeting of stockholders, the
Chairman of the Board of Directors and each non-employee
director serving on the Board of Directors will receive an
automatic grant of options to purchase 5,000 shares of common
stock of the Company. These options will have an exercise price
equal to the Fair Market Value (as defined in the Plan) of the
common stock on the date of grant, and one-fourth of the option
will vest and become exercisable on each anniversary of the date
of grant, as long as such director is still serving on our Board
of Directors on such vesting date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In addition, the amendment to the Plan provides
that at the first Board meeting after each annual meeting of
stockholders, the Chairman of each Board committee of the
Company will receive an automatic grant of options to purchase
1,000 shares of common stock of the Company. These options will
have an exercise price equal to the Fair Market Value of the
common stock on the date of grant, and one-fourth of the option
will vest and become exercisable on each anniversary of the date
of grant, as long as such director is still serving on our Board
of Directors on such vesting date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We believe that the amendment to the automatic
grant feature is in the best interests of the Company and its
stockholders for several reasons. First, providing more options
to Board members will help us attract and retain outstanding and
highly skilled individuals to serve on our Company&#146;s Board
of Directors, which is critical to the success of our business.
Second,<I> </I>extending the vesting of options to four years
from one year requires directors to continue their service on
the Board for at least four years before they can exercise all
of their options. Third, automatically granting options to the
Chairmen of each committee of the Board provides an incentive
for a Board member to serve as a Chairman of a Board committee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Should the amendment to the Plan not be approved
by our stockholders, the current provisions in the Plan with
respect to automatic grants of options to non-employee directors
shall remain in effect.
</FONT>

<P align="left">
<B><FONT size="2">Material Terms of the Plan, as
Amended</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following is a summary of the material terms
of the Plan, as amended. A copy of the Plan is available to any
stockholder upon written request.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our Board of Directors adopted the Plan before
our initial public offering, and our stockholders approved it in
June 1998. The purpose of the Plan is to advance the best
interests of the Company and its subsidiaries by providing
employees, officers and directors with an additional incentive
to contribute to the growth and success of the Company by
increasing their proprietary interest in the Company. The Plan
also provides the Company with an additional tool to attract,
reward and retain executives and critical employees and to
compensate directors for their time spent serving on the Board.
Additionally, granting key employees and directors stock options
and restricted stock under the Plan closely aligns the interests
of directors and key employees with the interests of the
Company&#146;s stockholders.
</FONT>

<P align="center"><FONT size="2">4
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Shares Reserved for
Options.</FONT></I><FONT size="2"> Currently 3,750,000 shares of
our common stock are reserved for issuance under the Plan. If
any award granted under the Plan expires, is canceled or
terminates for any reason, the shares of common stock issuable
under that award will again be available for the granting of new
awards (but will be counted against that calendar year&#146;s
limit on the number of shares that can be granted to a given
individual).
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Eligible
Participants.</FONT></I><FONT size="2"> Each officer, director
and employee of the Company and its subsidiaries is eligible to
receive awards under the Plan. As of April 1, 2002, we had 823
eligible participants.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Administrator.</FONT></I><FONT size="2"> The
Compensation Committee of the Board of Directors administers the
Plan (the &#147;Administrator&#148;). Subject to provisions of
the Plan, the Administrator may decide:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="1%"></TD>
	<TD width="96%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">the participants to receive awards;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">the terms of any awards;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">the schedule of exercisability or vesting of
	awards;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">the time and conditions for expiration of awards;
	and
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">the form of payment due upon exercise of an award.
	</FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Discretionary
Awards.</FONT></I><FONT size="2"> The plan permits three types
of discretionary awards: stock grants, incentive stock options
within the meaning of Section 422 of the Internal Revenue Code
(ISOs) and non-qualified stock options (NSOs).
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Automatic Grants.
</FONT></I><FONT size="2">Under the proposed amendment to the
Plan, at the first Board meeting after each annual meeting of
stockholders, the Chairman of the Board of Directors and each
non-employee director serving on the Board of Directors will
receive an automatic grant of options to purchase 5,000 shares
of common stock of the Company. These options will have an
exercise price equal to the Fair Market Value of the common
stock on the date of grant, and one-fourth of the option will
vest and become exercisable on each anniversary of the date of
grant, as long as such director is still serving on our Board of
Directors on such vesting date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The amendment to the Plan also provides that at
the first Board meeting after each annual meeting of
stockholders, the Chairman of each Board committee of the
Company will receive an automatic grant of options to purchase
1,000 shares of common stock of the Company. These options will
have an exercise price equal to the Fair Market Value of the
common stock on the date of grant, and one-fourth of the option
will vest and become exercisable on each anniversary of the date
of grant, as long as such director is still serving on our Board
of Directors on such vesting date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Exercise Price.</FONT></I><FONT size="2">
ISO&#146;s and NSO&#146;s awarded under the Plan may not have an
exercise price less than 100% of the Fair Market Value of the
Company&#146;s common stock on the date of grant; provided,
however, if an ISO is awarded to someone covered by
Sections&nbsp;422(b)(6) and 424(d) of the Internal Revenue Code
(as a more-than-10%-stock-owner), the exercise price of the
option must be at least 110% of the Fair Market Value of the
common stock on the date of grant. Individuals awarded
restricted stock under the Plan will either pay the par value
for the shares granted or receive common stock held by the
Company as treasury stock.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Limitations.</FONT></I><FONT size="2"> The
Plan limits grants to any one eligible participant during a
calendar year to 400,000 shares. The maximum term of options
granted under the Plan is ten years (or five years in the case
of an ISO granted to a more than 10% stockholder). In cases of
death, termination of employment and disability, unless
otherwise provided in the award agreement, vested options will
expire (i)&nbsp;twelve months after the participant&#146;s
death, (ii)&nbsp;ninety days after the participant&#146;s
employment or service as a director terminates, or (iii)&nbsp;in
the case of disability, the earlier of (A)&nbsp;the first
anniversary of termination of employment or (B)&nbsp;thirty days
after the participant ceases to have a disability; provided,
however, that vested options may not be exercised after the
expiration of the maximum ten-year term.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Effect of a Change of Control.
</FONT></I><FONT size="2">Upon a &#147;change of control&#148;
as defined in the Plan, all of our outstanding unexercisable
options and stock grants under the Plan immediately become
exercisable. Upon a &#147;substantial
</FONT>

<P align="center"><FONT size="2">5
</FONT>

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<DIV align="left">
<FONT size="2">corporate change,&#148; which includes
circumstances that may constitute a &#147;change of
control,&#148; as well as other types of corporate transactions,
the exercisability of all unexercisable options and stock grants
will accelerate unless the Board determines otherwise or unless
the options and stock grants are assumed or substituted by
another entity. Exercisable options that are not exercised upon
a &#147;substantial corporate change&#148; will be terminated.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Amendments.</FONT></I><FONT size="2"> The
Board may amend, suspend or terminate the Plan at any time,
without the consent of the participants or their beneficiaries,
provided that an amendment may not deprive any participant or
beneficiary of any previously declared grant, modify the terms
and conditions of a grant so as to adversely affect a
participant without such participant&#146;s consent, or
terminate or adversely affect any right or obligation under any
outstanding grant without the participant&#146;s consent.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Transferability.</FONT></I><FONT size="2">
Unless approved by the Administrator, awards may not be
transferred other than by will or by the laws of descent and
distribution.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Termination. </FONT></I><FONT size="2">Unless
terminated sooner by the Board of Directors, the Plan will
terminate on May&nbsp;8, 2008.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Tax Treatment.</FONT></I><FONT size="2"> An
optionee generally will not be taxed when an option is granted
under the Plan. When an optionee exercises a NSO, the optionee
generally will have compensation equal to the amount by which
the then fair market value of the stock exceeds the option
exercise price. The Company generally will receive a federal
income tax deduction equal to the amount of compensation income
recognized by the optionee. The optionee&#146;s tax basis will
be the fair market value of the stock on the date of exercise,
and any gain or loss on a subsequent sale or other taxable
disposition of the shares generally will be capital gain or loss.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">An optionee holding an ISO who complies with the
applicable holding periods before disposing of the stock (a
&#147;qualifying disposition&#148;) acquired upon exercise of
the incentive option will generally qualify for favorable tax
treatment, and in such case the Company generally will not
receive a tax deduction. A qualifying disposition will be deemed
to have occurred if the underlying shares are sold or otherwise
disposed of after the later of one year from the date of
exercise of the ISO and two years after the date the Company
granted the ISO. Upon a qualifying disposition, the optionee
will recognize long-term capital gain or loss equal to the
difference between the sales price and the exercise price of the
ISO. An optionee holding an ISO may, however, be subject to an
alternative minimum tax when an ISO is exercised. If the
optionee holding an ISO does not make a qualifying disposition
of the shares, the rules applicable to NSOs generally will apply
to both the optionee and the Company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The income tax consequences of a stock grant
depend upon whether the grantee makes an election under section
83(b) of the Code to be taxed upon grant. To make the election,
a grantee must file the statement required under section 83(b)
with the Internal Revenue Service no later than 30&nbsp;days
after the grant of the shares. Once made, the election is
irrevocable.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If the grantee does not make the section 83(b)
election, the award of the stock grant generally is not a
taxable event. Rather, recognition of taxable income is
postponed until any restrictions on the shares lapse&nbsp;&#151;
in other words, when the grantee vests in the shares. At that
time, the grantee will recognize ordinary income equal to the
fair market value of the shares at that time, and that amount
will be the grantee&#146;s tax basis in those shares. The
Company will receive a corresponding income tax deduction. Any
gain or loss on a subsequent sale or other taxable disposition
of the shares generally will be capital gain or loss to the
grantee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If the grantee makes the section 83(b) election,
the grantee will recognize ordinary income at the time of grant
of the shares equal to the fair market value of such shares on
the date of the grant, and that amount will be the
grantee&#146;s tax basis in those shares. The Company will have
a corresponding income tax deduction. If those shares are
subsequently forfeited before the restrictions lapse, the
grantee will not be entitled to any deduction on account
thereof. Any gain or loss on a subsequent sale or other taxable
disposition of the shares generally will be capital gain or loss
to the grantee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Share Price. </FONT></I><FONT size="2">The
closing price per share of the common stock on the Nasdaq Stock
Market on April&nbsp;25, 2002 was $24.899.
</FONT>

<P align="center"><FONT size="2">6
</FONT>

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<P align="left">
<B><FONT size="2">Options and Restricted Stock Granted to
Certain Individuals and Groups</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth the total amount
of options and restricted stock granted, and not cancelled,
under the Plan to the listed individuals and groups as of
March&nbsp;1, 2002:
</FONT>

<CENTER>
<TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="74%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Number of Options/</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Restricted Stock</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Granted as of</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name of Individual or Group</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">March 1, 2002</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Andrew C. Florance
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">458,104</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Lawrence J. Dressel
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">110,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Frank A. Carchedi
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">125,150</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">David M. Schaffel
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">102,120</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Craig S. Farrington
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">40,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">All executive officers as a group (5 persons)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">835,374</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">All directors (other than executive officers) as
	a group (5 persons)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">36,664</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">All employees (other than executive officers) as
	a group
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,734,054</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<B><FONT size="2">Plan Shares Outstanding</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth information with
respect to the Company&#146;s equity compensation plans approved
by security holders. The Company does not have any equity
compensation plans not approved by security holders. The
information is as of March&nbsp;1, 2002.
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="22%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="12%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Number of securities</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">remaining available for future</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Number of securities to be</FONT></B></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">issuance under equity</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">issued upon exercise of</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Weighted-average exercise</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">compensation plans (excluding</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">outstanding options, warrants,</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">price of outstanding options,</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">securities reflected in column</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Plan Category</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">and rights</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">warrants, and rights</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">(a))</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Equity compensation plans approved by security
	holders
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,021,601</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">21.89</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,153,572</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<B><FONT size="2">New Plan Benefits</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Other than as set forth below, the benefits that
will be received in the future under the Plan, as amended, by
each participant are not determinable. If the amendment to the
Plan is approved by our stockholders, at the first Board meeting
after the Annual Meeting, each non-employee director and the
Chairman of the Board will receive the annual automatic option
grants discussed above. If the amendment to the Plan is not
approved, at the first Board meeting after the Annual Meeting,
each non-employee director will receive an automatic grant of
options to purchase 1,000 shares of common stock.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">THE BOARD OF DIRECTORS RECOMMENDS THAT YOU
VOTE FOR APPROVAL OF THE AMENDMENT TO THE COSTAR GROUP, INC.
1998 STOCK INCENTIVE PLAN.</FONT></B>

<!-- link1 "OTHER MATTERS" -->

<P align="center">
<B><FONT size="2">OTHER MATTERS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We do not know of any other matter that will be
presented for consideration at the Annual Meeting. If any other
matter does properly come before the Annual Meeting, the proxy
holders will, unless otherwise specified in the proxy, vote on
it as they think best.
</FONT>

<P align="center">
<B><FONT size="2">STOCKHOLDER PROPOSALS AND
NOMINATIONS</FONT></B>

<DIV align="center">
<B><FONT size="2">FOR DIRECTORS FOR THE 2003 ANNUAL
MEETING</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A stockholder who intends to introduce a proposal
for consideration at our 2003 Annual Meeting of Stockholders may
seek to have that proposal and a statement in support of the
proposal included in our proxy
</FONT>

<P align="center"><FONT size="2">7
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">statement if the proposal relates to a subject
that is permitted under Rule&nbsp;14a-8 under the Securities
Exchange Act of 1934. Additionally, in order to be eligible for
inclusion in our proxy statement, the stockholder must submit
the proposal and supporting statement to our Corporate Secretary
in writing not later than January&nbsp;1, 2003 and must satisfy
the other requirements of Rule&nbsp;14a-8. Stockholders
interested in submitting such a proposal are advised to contact
knowledgeable counsel with regard to the detailed requirements
of applicable securities laws. The submission of a stockholder
proposal does not guarantee that it will be included in our
proxy statement.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A stockholder may otherwise propose business for
consideration or nominate persons for election to the Board, in
compliance with federal proxy rules, applicable state law and
other legal requirements and without seeking to have the
proposal included in our proxy statement pursuant to
Rule&nbsp;14a-8. Our bylaws provide that any such proposals or
nominations must be submitted to us no less than 60 nor more
than 90&nbsp;days before the first anniversary date of the
preceding year&#146;s annual meeting. Accordingly, stockholders
who wish to nominate persons for election as directors or bring
other proposals at the 2003 Annual Meeting must give notice of
their intention in writing to our Corporate Secretary on or
before April&nbsp;19, 2003, but no sooner than March&nbsp;20,
2003. The stockholder&#146;s submission must include certain
specified information concerning the proposal or nominee, as the
case may be, and information as to the stockholder&#146;s
ownership of common stock. Proposals or nominations not meeting
these requirements will not be entertained at the 2003 Annual
Meeting.
</FONT>

<!-- link1 "ADDITIONAL INFORMATION" -->

<P align="center">
<B><FONT size="2">ADDITIONAL INFORMATION</FONT></B>

<P align="left">
<B><FONT size="2">Board of Directors Meetings and
Committees</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">During 2001, the Board of Directors held three
meetings and acted on two occasions by unanimous consent. The
Board has Audit, Compensation and Nominating committees each
composed of three members. All directors attended at least 75%
of the meetings of the Board and the committees of which they
were members, except that David Bonderman participated in 43% of
the meetings of the Board and the committees of which he was a
member.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Audit Committee.</FONT></I><FONT size="2"> The
Audit Committee is composed of Warren H. Haber (Chairman), David
Bonderman and Josiah O. Low III, each of who is an independent
director under the listing standards of the National Association
of Securities Dealers (&#147;NASD&#148;). During 2001, the Audit
Committee met three times and acted on one occasion by unanimous
consent. The Audit Committee consults with the Company&#146;s
independent auditors and with personnel from the Company&#146;s
financial staff with respect to corporate accounting, reporting
and internal control practices. The Audit Committee operates
under a written charter adopted by the Board of Directors and
reviewed annually by the Audit Committee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Compensation
Committee.</FONT></I><FONT size="2"> The members of the
Compensation Committee are Warren H. Haber (Chairman), David
Bonderman and Michael R. Klein. The Compensation Committee makes
recommendations concerning salaries and incentive compensation
for our executive officers. In addition, the Board of Directors
has designated the Compensation Committee as the Administrator
of the Company&#146;s 1998 Stock Incentive Plan. The Committee
met one time in 2001 and acted on one occasion by unanimous
written consent.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Nominating
Committee.</FONT></I><FONT size="2"> The members of the
Nominating Committee are Michael Klein (Chairman), Josiah Low
III and John Simon. The Nominating Committee is responsible for
screening and nominating candidates to serve on the
Company&#146;s Board of Directors and committees. The Nominating
Committee will entertain nominees suggested by stockholders.
Stockholders should mail the candidate&#146;s name and
qualifications to the Company, addressed to the attention of the
Corporate Secretary. The Nominating Committee did not meet in
2001.
</FONT>

<P align="left">
<B><FONT size="2">Report of the Audit Committee</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee reviews the Company&#146;s
financial reporting process on behalf of the Board of Directors.
Management has the primary responsibility for the financial
statements and the reporting process.
</FONT>

<P align="center"><FONT size="2">8
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">The Company&#146;s independent auditors are
responsible for expressing an opinion on the conformity of the
Company&#146;s audited consolidated financial statements to
generally accepted accounting principles.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In this context, the Audit Committee has reviewed
and discussed with management and the independent auditors the
audited consolidated financial statements for 2001. The Audit
Committee has discussed with the independent auditors the
matters required to be discussed by Statement on Auditing
Standards No.&nbsp;61 (Communication with Audit Committees). In
addition, the Audit Committee has received from the independent
auditors the written disclosures and the letter required by
Independence Standards Board Standard No.&nbsp;1 (Independence
Discussions with Audit Committees) and discussed with them their
independence from the Company and its management. The Audit
Committee has also considered whether the independent
auditors&#146; provision of non-audit services to the Company is
compatible with the auditors&#146; independence.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In reliance on the reviews and discussions
referred to above, the Audit Committee recommended to the Board
of Directors that the audited consolidated financial statements
be included in the Company&#146;s Annual Report on SEC Form 10-K
for the fiscal year ended December&nbsp;31, 2001, for filing
with the Securities and Exchange Commission.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="38%"></TD>
	<TD width="62%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">By the Audit Committee
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">of the Board of Directors
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">April&nbsp;23, 2002
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Warren H. Haber, Chairman
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">David Bonderman
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Josiah O. Low III
	</FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Compensation Committee Interlocks and Insider
Participation</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Messrs.&nbsp;Bonderman and Haber are both
non-employee directors, and Mr.&nbsp;Klein serves as the
Chairman of the Board of the Company. During fiscal year 2001,
none of the Company&#146;s executive officers served as a
director or compensation committee member of any entity with an
executive officer or director who served as a director or
compensation committee member of the Company.
</FONT>

<P align="left">
<B><FONT size="2">Director Compensation</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Board Fees. </FONT></I><FONT size="2">Each
director, other than the Chairman of the Board and any employee
director, receives $15,000 annually as compensation for serving
on the Company&#146;s Board of Directors.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Attendance Fees.</FONT></I><FONT size="2">
Currently, each director, other than the Chairman of the Board
and any employee director, receives $2,000 for each meeting of
the Board of Directors attended in person or by telephone.
Through September 2001, each non-employee director received
$2,500 for each meeting of the Board of Directors attended in
person or by telephone and $500 (or $1,000 in the case of the
Chairman of a committee) for each meeting of a committee of the
Board of Directors attended in person or by telephone.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Chairman. </FONT></I><FONT size="2">The
Chairman of the Board of Directors receives $120,000 annually as
compensation for additional services that he is required to
perform in his role as chairman of the Company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Option and Stock
Grants.</FONT></I><FONT size="2"> During 2001, each non-employee
director received (i)&nbsp;a grant of options to purchase 1,000
shares of common stock of the Company at an exercise price of
$17.97 per share, all of which will vest on the first
anniversary of the date of grant, (ii)&nbsp;a grant of options
to purchase 2,000 shares of common stock of the Company at an
exercise price of $17.97 per share, one-fourth of which will
vest on each anniversary of the date of grant, and (iii)&nbsp;a
grant of 1,000 shares of restricted stock of the Company,
one-fourth of which will vest on each anniversary of the date of
grant. The Compensation Committee has resolved that all unvested
stock options and stock grants of Mr. Simon shall vest as though
his service on the Board continued through the end of 2002.
</FONT>

<P align="center"><FONT size="2">9
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">During 2001, the Chairman of the Board of
Directors received (i)&nbsp;a grant of options to purchase 3,000
shares of common stock of the Company at an exercise price of
$17.97 per share, one-fourth of which will vest on each
anniversary of the date of grant, and (ii)&nbsp;a grant of 1,000
shares of restricted stock, one-fourth of which will vest on
each anniversary of the date of grant.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">During 2001, Warren Haber, as the Chairman of
each of the Audit and Compensation committees received a grant
of options to purchase 2,000 shares of common stock of the
Company at an exercise price of $17.97 per share, one-fourth of
which will vest on each anniversary of the date of grant.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Upon stockholder approval of the amendment to the
Plan, at the first Board meeting after each annual meeting of
stockholders, the Chairman of the Board of Directors and each
non-employee director serving on the Board of Directors will
receive an automatic grant of options to purchase 5,000 shares
of common stock of the Company. These options will have an
exercise price equal to the Fair Market Value of the common
stock on the date of grant, and one-fourth will vest and become
exercisable on each anniversary of the date of grant, as long as
such director is still serving on our Board of Directors on such
vesting date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Additionally, the proposed amendment to the Plan
provides that at the first Board meeting after each annual
meeting of stockholders, the Chairman of each committee of the
Company will receive an automatic grant of options to purchase
1,000 shares of common stock of the Company. These options will
have an exercise price equal to the Fair Market Value of the
common stock on the date of grant, and one-fourth will vest on
each anniversary of the date of grant, as long as such director
is still serving on the Company&#146;s Board of Directors on
such vesting date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Expenses. </FONT></I><FONT size="2">Each
director is entitled to reimbursement of his or her expenses for
serving as a member of our Board, including for attending each
meeting of the Board of Directors and each meeting of any
committee.
</FONT>

<P align="left">
<B><FONT size="2">Executive Officers and Key Employees</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table lists our executive officers
and key employees:
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="29%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Years of</FONT></B></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Age</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Service</FONT></B></TD>
	<TD></TD>
	<TD align="center" nowrap><B><FONT size="1">Position</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Andrew C. Florance*
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">38</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">15</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Chief Executive Officer, President and Director
	</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Lawrence J. Dressel*
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">50</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">2</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Chief Operating Officer
	</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Frank A. Carchedi*
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">44</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">5</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Chief Financial Officer and Treasurer
	</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">David M. Schaffel*
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">41</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">13</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Chief Information Officer
	</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Craig S. Farrington*
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">44</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">19</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">**</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Vice President, CoStar COMPS&#174;
	</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Michael D. Arabe
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">55</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">13</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">**</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Sr. Vice President, Customer Service and Support
	</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Carla J. Garrett
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">34</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">General Counsel and Secretary
	</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Mark A. Klionsky
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">42</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">2</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Sr. Vice President Marketing &#38; Corporate
	Communications
	</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Mark. Policinski
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">51</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">2</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Vice President, Research
	</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Dean L. Violagis
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">35</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">12</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Vice President, Research
	</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="1%"></TD>
	<TD width="2%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Executive Officer.
	</FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">**&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes years of service with acquired companies.
	</FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Information about Mr.&nbsp;Florance appears above
under &#147;Item&nbsp;1&nbsp;&#151; Election of Directors.&#148;
Information about each of the other individuals appears below.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Lawrence J. Dressel,
</FONT></I><FONT size="2">our Chief Operating Officer, joined us
in September 2000. Mr.&nbsp;Dressel is responsible for the
day-to-day management of CoStar operations, sales, marketing,
product development and customer service. From January 1999 to
September 2000, Mr.&nbsp;Dressel was Chief Operating Officer of
Interealty.com, a provider of information systems, services and
software applications to residential Multiple Listing Services
and real estate professionals. Before joining Interealty, from
January 1998 to January 1999, Mr.&nbsp;Dressel was Senior Vice
President at The Fairchild Company, where he oversaw a division
that manufactured capital equipment
</FONT>

<P align="center"><FONT size="2">10
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">used to make CD&#146;s and DVD&#146;s. Prior to
that, from 1986 through 1997, Mr.&nbsp;Dressel was Senior Vice
President and General Manager of Shared Technologies Fairchild,
Inc. and Fairchild Communications, the predecessor company to
Shared Technologies Fairchild, which provided telecommunication
services in multi-tenant commercial office buildings throughout
the United States. Mr.&nbsp;Dressel received a B.S. in
electrical engineering from Illinois Institute of Technology.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Frank A. Carchedi,</FONT></I><FONT size="2">
our Chief Financial Officer and Treasurer, joined us in May 1997
from ITC Learning Corporation, a publicly-held publisher and
distributor of multi-media training products, where he had been
Vice President, Treasurer and Chief Financial Officer since
1995. Prior to that, Mr.&nbsp;Carchedi was with Ernst &#38;
Young, LLP for ten years, most recently as a consultant in the
firm&#146;s New York Merger and Acquisitions Group and its
Entrepreneurial Services Group in Washington, D.C. He received a
B.S. in accounting from Wake Forest University.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">David M. Schaffel,</FONT></I><FONT size="2">
our Chief Information Officer, has been with us since 1989.
Mr.&nbsp;Schaffel is responsible for the design, development,
and maintenance of our software services, products and any new
services, as well as internal corporate software systems and IT
infrastructure. From 1987 until joining us, Mr.&nbsp;Schaffel
was president of Biscayne Technical Services, Inc., where he
developed a logistics tracking application for the United States
Air Force. Mr. Schaffel received a M.S. in operations
research/statistics from the University of Miami and a B.S. in
business from the University of Florida.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Craig S. Farrington,
</FONT></I><FONT size="2">the Vice President of CoStar
COMPS&#174;, is in charge of our CoStar COMPS&#174; product.
Mr.&nbsp;Farrington joined us upon the acquisition of COMPS.COM,
Inc. in February 2000 and from February 2000 until December 2001
served as the Chief Operating Officer of our former Comps, Inc.
subsidiary. Prior to that, Mr.&nbsp;Farrington served as Vice
President of Product Marketing and Development for COMPS.COM,
Inc. since September 1996, and held various positions with
COMPS.COM since 1983. Mr.&nbsp;Farrington received his B.A. in
business and economics from Westmont College.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Michael D. Arabe,
</FONT></I><FONT size="2">our Senior Vice President of Customer
Service and Support, joined us upon the acquisition of
COMPS.COM, Inc. in February 2000. Mr.&nbsp;Arabe became Vice
President of Customer Service and Support in November 2000. From
February 2000 until that time, he was responsible for sales of
CoStar COMPS&#174;. Mr.&nbsp;Arabe joined COMPS.COM in 1989 and
held a variety of positions in senior management, most recently
as Senior Vice President of Sales. Mr.&nbsp;Arabe received a
B.S. in economics from Louisiana State University.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Carla J. Garrett,</FONT></I><FONT size="2">
our General Counsel and Secretary, joined us in June 1999. Prior
to joining CoStar, Ms.&nbsp;Garrett was at Sullivan &#38;
Cromwell, a New York based law firm, where she had been a
corporate and securities attorney since 1996. Prior to joining
Sullivan &#38; Cromwell, she was an associate with Wilson
Sonsini Goodrich &#38; Rosati, a Palo Alto based law firm, where
she practiced corporate law and advised technology companies.
Ms.&nbsp;Garrett received a B.A. in mathematics from Vanderbilt
University and her J.D. from Stanford University.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Mark A. Klionsky,
</FONT></I><FONT size="2">our Senior Vice President of Marketing
and Corporate Communications, joined us in May 2000.
Mr.&nbsp;Klionsky is responsible for implementing the
Company&#146;s marketing strategy and oversees the
Company&#146;s corporate communications. Prior to joining the
Company, from 1981 until 2000, Mr.&nbsp;Klionsky was with Miller
Freeman, Inc., the U.S. subsidiary of United News &#38; Media,
plc, where he held a variety of corporate positions, most
recently Senior Vice President. Additionally, in 1987
Mr.&nbsp;Klionsky helped launch Commercial Property News, which
was published by Miller Freeman, and from 1994 until 2000 served
as Group Publisher of Commercial Property News. He received a
B.A. in communications from Rowan College.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Mark Policinski, </FONT></I><FONT size="2">our
Vice President of Research, joined us in September 2000.
Mr.&nbsp;Policinski oversees research for tenant information.
Prior to joining the Company, from 1987 to 2000,
Mr.&nbsp;Policinski was with Brown Publishing Company, a
privately held company comprised of 40 community newspapers,
where he was most recently President and CEO. He received a B.S.
in education/political science and economics from Indiana
University and a Master of Arts in economics from Western
Kentucky University.
</FONT>

<P align="center"><FONT size="2">11
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Dean L. Violagis,</FONT></I><FONT size="2">
our Vice President of Research, joined us in 1989. Mr. Violagis
is responsible for our CoStar Property and CoStar Exchange
research department, of which he has been a manager since 1989.
Mr.&nbsp;Violagis received a B.A. in real estate finance from
American University.
</FONT>

<P align="left">
<B><FONT size="2">Stock Ownership Information</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table provides certain information
regarding the beneficial ownership of our common stock as of
April&nbsp;1, 2002 by:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="1%"></TD>
	<TD width="96%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">our Chief Executive Officer and President, each
	of our four most highly compensated executive officers who were
	serving as executive officers on December&nbsp;31, 2001, and one
	additional individual whose employment terminated during 2001
	(whom we refer to collectively in this proxy statement as the
	&#147;named executive officers&#148;);
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">each of our directors and nominees to be
	directors;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">each person we know to be the beneficial owner of
	more than 5% of the outstanding common stock; and
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">&#149;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">all of our current executive officers and
	directors as a group.
	</FONT></TD>
</TR>

</TABLE>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="56%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Shares</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Percentage of</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name and Address(1)</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Beneficially Owned(1)</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Outstanding Shares(1)</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Michael R. Klein(2)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,603,895</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10.20</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Andrew C. Florance(3)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">592,733</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3.68</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Lawrence J. Dressel(4)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">30,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Frank A. Carchedi(5)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">60,170</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">David M. Schaffel(6)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">91,827</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Craig S. Farrington(7)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">24,460</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">David Bonderman(8)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">261,992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1.67</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Warren H. Haber(9)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">84,310</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Josiah O. Low III(10)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">7,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John Simon(11)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">48,914</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Christopher J. Nassetta
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John M. Place(12)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Capital Guardian Trust Company(13)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,116,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">13.46</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Kern Capital Management, LLC(14)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,089,600</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6.93</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Zurich Scudder Investments, Inc.(15)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,044,100</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6.64</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Brown Investment Advisory &#38; Trust Company(16)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">795,348</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">5.06</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">All ten directors and executive officers as a
	group(17)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,805,301</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">17.22</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="1%"></TD>
	<TD width="4%"></TD>
	<TD width="95%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(1)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Unless otherwise noted, each listed person&#146;s
	address is c/o CoStar Group, Inc., 2 Bethesda Metro Center,
	Tenth Floor, Bethesda, Maryland 20814. Beneficial ownership, as
	determined in accordance with Rule&nbsp;13d-3 under the
	Securities Exchange Act of 1934, includes sole or shared power
	to vote or direct the voting of, or to dispose or direct the
	disposition of shares, as well as the right to acquire
	beneficial ownership within 60 days of April&nbsp;1, 2002,
	through the exercise of an option or otherwise. Except as
	indicated in the footnotes to the table, we believe that the
	persons named in the table have sole voting and investment power
	with respect to the indicated shares of common stock. The use of
	* indicates ownership of less than 1%. As of April&nbsp;1, 2002,
	the Company had 15,724,883 shares of common stock outstanding.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(2)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 14,496 shares held in trust by
	Mr.&nbsp;Klein and his spouse for his nieces, for which
	Mr.&nbsp;Klein and his spouse share voting and dispositive
	power, and 14,496 shares held by another as trustee for
	Mr.&nbsp;Klein&#146;s children, for which Mr.&nbsp;Klein may be
	deemed to share voting and dispositive power. Mr.&nbsp;Klein
	disclaims beneficial ownership of these shares.
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">12
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="1%"></TD>
	<TD width="4%"></TD>
	<TD width="95%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(3)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 401,854 shares issuable upon options
	exercisable within 60&nbsp;days of April&nbsp;1, 2002.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(4)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 22,500 shares issuable upon options
	exercisable within 60&nbsp;days of April&nbsp;1, 2002.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(5)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 52,500 shares issuable upon options
	exercisable within 60&nbsp;days of April&nbsp;1, 2002.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(6)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 66,500 shares issuable upon options
	exercisable within 60&nbsp;days of April&nbsp;1, 2002.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(7)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 15,000 shares issuable upon options
	exercisable within 60&nbsp;days of April&nbsp;1, 2002.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(8)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 2,000 shares issuable upon options
	exercisable within 60&nbsp;days of April&nbsp;1, 2002.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(9)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 6,000 shares held by
	Mr.&nbsp;Haber&#146;s spouse and excludes 20,000 shares held by
	Mr.&nbsp;Haber&#146;s adult son for which Mr.&nbsp;Haber
	disclaims beneficial ownership. Also includes 2,000 shares
	issuable upon options exercisable within 60&nbsp;days of
	April&nbsp;1, 2002.
	</FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="95%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(10)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 2,000 shares issuable upon options
	exercisable within 60&nbsp;days of April&nbsp;1, 2002.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(11)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 2,000 shares issuable upon options
	exercisable within 60&nbsp;days of April&nbsp;1, 2002. Excludes
	all shares held by Allen &#38; Company Incorporated (of which
	Mr.&nbsp;Simon is a Managing Director) and certain of its other
	officers and affiliates; Mr.&nbsp;Simon disclaims beneficial
	ownership of such shares. Mr.&nbsp;Simon&#146;s address is c/o
	Allen &#38; Company Incorporated, 711 Fifth Avenue, New York,
	New York 10022.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(12)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Mr.&nbsp;Place resigned from the Company
	effective July 2001. To the knowledge of the Company,
	Mr.&nbsp;Place does not own any shares of the Company&#146;s
	stock.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(13)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">According to Schedule&nbsp;13G/ A filed on
	February&nbsp;14, 2002, Capital Guardian Trust Company
	(&#147;CGT&#148;) beneficially owns 2,116,500 shares of common
	stock of the Company. Based solely on this Schedule&nbsp;13G/ A,
	CGT has sole voting power with respect to 1,616,800 of such
	shares and has sole dispositive power with respect to all
	2,116,500 of such shares. Further, based solely on this
	Schedule&nbsp;13G/ A, Capital Group International, Inc.
	(&#147;CGI&#148;) is the parent holding company of CGT and may
	be deemed to beneficially own such shares, and both CGT and CGI
	disclaim any beneficial ownership of such shares. The address of
	both CGT and CGI is 11100 Santa Monica Blvd., Los Angeles, CA
	90025.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(14)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">According to a Schedule&nbsp;13G/ A filed on
	February&nbsp;14, 2002, Kern Capital Management, LLC
	(&#147;KCM&#148;) beneficially owns 1,089,600 shares of common
	stock of the Company. Based solely on this Schedule&nbsp;13G/ A,
	KCM has sole voting power with respect to 1,039,400 of such
	shares and has sole dispositive power with respect to all
	1,089,600 of such shares. Further, based solely on this
	Schedule&nbsp;13G/ A, Robert E. Kern, Jr. and David G. Kern are
	controlling members of KCM and may be deemed to beneficially own
	such shares, and both Robert E. Kern, Jr. and David G. Kern
	disclaim any beneficial ownership of such shares. The address of
	KCM is 114 West 47th Street, Suite&nbsp;1926, New&nbsp;York, NY
	10036.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(15)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">According to a Schedule&nbsp;13G/ A filed on
	February&nbsp;1, 2002, Zurich Scudder Investments, Inc.
	(&#147;Zurich&#148;) beneficially owns 1,044,100 shares of
	common stock of the Company. Based solely on this
	Schedule&nbsp;13G/ A, Zurich has sole voting power with respect
	to 719,988 of such shares, has shared voting power with respect
	to 17,412 of such shares and has sole dispositive power with
	respect to all 1,044,100 shares. The address of Zurich is 345
	Park Avenue, New York, New York 10154.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(16)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">According to a Schedule&nbsp;13G filed on
	March&nbsp;8, 2002, Brown Investment Advisory &#38; Trust
	Company (&#147;BIATC&#148;) and its wholly owned subsidiary,
	Brown Investment Advisory Incorporated (&#147;BAI&#148;),
	beneficially own 795,348 shares of common stock of the Company.
	Based solely on this Schedule&nbsp;13G, BIATC beneficially owns
	218,105 of such shares and has sole voting and dispositive power
	with respect to all of such shares. Based solely on this
	Schedule&nbsp;13G, BAI beneficially owns 577,243 of such shares
	and has sole voting and dispositive power with respect to all of
	such shares. The address of both BIATC and BAI is 19 South
	Street, Baltimore, Maryland 21202.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(17)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 566,354 shares issuable upon options
	exercisable within 60&nbsp;days of April&nbsp;1, 2002.
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">13
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">
<B><FONT size="2">Executive Compensation</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table provides the annual salary,
bonuses, and all other compensation awards and payouts to our
named executive officers for 1999 through 2001.
</FONT>

<P align="center">
<B><FONT size="2">SUMMARY COMPENSATION TABLE</FONT></B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="32%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="11"></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Long-Term</FONT></B></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="11" align="center" nowrap><B><FONT size="1">Annual Compensation</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Compensation Awards</FONT></B></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="11" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Fiscal</FONT></B></TD>
	<TD></TD>
	<TD colspan="7"></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Securities Underlying</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">All Other</FONT></B></TD>
</TR>

<TR>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Name and Principal Position</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Year</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Salary</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Bonus</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Options</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Compensation</FONT></B></TD>
</TR>

<TR>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Andrew C. Florance
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">335,577</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">300,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(1)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">50,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">11,393</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(2)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Chief Executive Officer
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">285,577</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">225,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(3)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">25,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10,228</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(4)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">and President
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">228,365</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">175,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">150,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">5,305</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(5)</FONT></TD>
</TR>

<TR>
	<TD colspan="22"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Lawrence J. Dressel
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">250,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">122,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(1)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">30,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">7,500</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Chief Operating Officer
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">57,692</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(7)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(8)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">80,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="22"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Frank A. Carchedi
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">184,250</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">131,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(1)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">30,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">8,346</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Chief Financial
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">169,231</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">116,250</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(3)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,769</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Officer and Treasurer
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">146,346</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">101,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,231</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR>
	<TD colspan="22"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">David M. Schaffel
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">157,825</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">75,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(1)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,313</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Chief Information Officer
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">145,673</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">65,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(3)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">5,827</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR>
	<TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">149,360</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">61,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,472</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR>
	<TD colspan="22"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Craig S. Farrington
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">132,116</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">130,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(1)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">7,212</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Vice President,
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">115,309</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(9)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(8)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">5,584</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">CoStar COMPS&#174;
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="22"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John M. Place(10)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">147,768</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">69,283</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(11)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">147,662</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(12)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">Executive Vice President
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">177,692</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(13)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">75,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(14)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">60,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<HR size="1" width="18%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="1%"></TD>
	<TD width="4%"></TD>
	<TD width="95%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(1)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Represents bonus paid in 2001 for performance in
	2000. As of March&nbsp;31, 2002, the executive&#146;s annual
	bonus for 2001 had not been granted.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(2)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Represents 401(k) contributions made by the
	Company in the amount of $9,841, plus life insurance premiums
	paid by the Company for the benefit of Mr.&nbsp;Florance in the
	amount of $1,552.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(3)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Represents bonus paid in 2000 for performance in
	1999. As of March&nbsp;31, 2001, the executive&#146;s annual
	bonus for 2000 had not been granted.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(4)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Represents 401(k) contributions made by the
	Company in the amount of $9,788, plus life insurance premiums
	paid by the Company for the benefit of Mr.&nbsp;Florance in the
	amount of $440.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(5)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Represents 401(k) contributions made by the
	Company in the amount of $4,865, plus life insurance premiums
	paid by the Company for the benefit of Mr.&nbsp;Florance in the
	amount of $440.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(6)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Represents 401(k) contributions made by the
	Company.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(7)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Mr.&nbsp;Dressel joined us in September 2000. On
	an annualized basis, his base salary was $250,000 per year in
	2000.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(8)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The executive&#146;s annual bonus for 2000 was
	paid in 2001.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(9)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Mr.&nbsp;Farrington joined us in February 2000.
	On an annualized basis, his base salary was $130,000 per year in
	2000.
	</FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="5%"></TD>
	<TD width="95%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(10)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Mr.&nbsp;Place resigned from the Company
	effective July, 2001.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(11)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Represents bonus paid in 2001 for performance in
	2000 and 2001.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(12)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Represents $136,102 of severance pay, $10,200 of
	401(k) contributions made by the Company and $1,360 of COBRA
	payments made by the Company.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(13)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Mr.&nbsp;Place joined us in May 2000. On an
	annualized basis, his base salary was $280,000 per year in 2000.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(14)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Represents signing bonus.
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">14
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">
<B><FONT size="2">Employment Agreements</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We have employment agreements with the following
executive officers, Messrs.&nbsp;Florance, Dressel, Carchedi and
Schaffel, and have employment terms with Mr.&nbsp;Farrington.
Our employment agreements with Messrs.&nbsp;Florance, Carchedi
and Schaffel became effective as of January&nbsp;1, 1998.
Mr.&nbsp;Dressel&#146;s employment agreement became effective on
September&nbsp;25, 2000. Mr.&nbsp;Farrington&#146;s employment
terms became effective as of February&nbsp;18, 2000. Each
entitles the executive to a specified base salary, a bonus award
up to a specified percentage of base compensation based upon
achievement of performance objectives, and an award of stock
options vesting over time. The agreements also generally provide
that the executive may participate in any insurance, medical,
disability or pension plan generally made available to our
senior executive officers.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The employment agreements for
Messrs.&nbsp;Dressel, Carchedi and Schaffel are for initial
terms of two years and the employment agreement for
Mr.&nbsp;Florance is for an initial term of three years, and all
are automatically renewable for successive one-year terms unless
the executive or we terminate the agreement. Mr.&nbsp;Farrington
has at-will employment terms. The employment agreements for
Messrs.&nbsp;Florance, Dressel, Carchedi and Schaffel contain
covenants not to compete with us for the two years immediately
following termination.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The employment agreements for
Messrs.&nbsp;Florance, Dressel, Carchedi and Schaffel generally
provide that, if we terminate the executive&#146;s employment
without cause (which include &#147;changes of control&#148; of
the Company under certain circumstances), the executive is
entitled to certain severance benefits as follows. If we
terminate Mr.&nbsp;Florance without cause or if he terminates
his agreement for good cause, he is entitled to his base salary
for the greater of one year or whatever period remains under the
agreement, his bonus for the year in which the termination
occurred, the immediate vesting of all of his stock options, and
a gross-up payment to cover any taxes assessed under
Section&nbsp;4999 of the Internal Revenue Code. If we terminate
Messrs.&nbsp;Carchedi or Schaffel without cause, each is
entitled to his base salary for the greater of six months or
whatever period remains under the agreement, to a prorated share
of his bonus for the year in which termination occurred, and to
the immediate vesting of all stock options due to vest within
the following twelve months. If we terminate Mr.&nbsp;Dressel
without cause, he is entitled to his base salary for a period of
twelve months. Mr.&nbsp;Farrington is not entitled to any
severance benefits if he is terminated without cause.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table gives specific economic terms
of our arrangements with our executive officers as of
December&nbsp;31, 2001.
</FONT>

<CENTER>
<TABLE width="90%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="64%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Bonus Range as</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">a Percentage of</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Base Salary</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Base Compensation</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Andrew C. Florance
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">350,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap>&nbsp;<FONT size="2">0&nbsp;- 100%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Lawrence J. Dressel
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">250,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap>&nbsp;<FONT size="2">0&nbsp;- &nbsp;75%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Frank A. Carchedi
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">188,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">50&nbsp;- &nbsp;75%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">David M. Schaffel
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">161,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">25&nbsp;- &nbsp;50%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Craig S. Farrington
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">140,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap>&nbsp;<FONT size="2">0&nbsp;- 100%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center"><FONT size="2">15
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">
<B><FONT size="2">Option Grants</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table provides certain information
about grants of stock options to our named executive officers
during 2001.
</FONT>

<P align="center">
<B><FONT size="2">OPTION/ SAR GRANTS IN LAST FISCAL
YEAR</FONT></B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="36%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="19"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="19" align="center" nowrap><B><FONT size="1">Individual Grants</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="19" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Number of</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Percent of</FONT></B></TD>
	<TD></TD>
	<TD colspan="11"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Securities</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Total Options</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Exercise</FONT></B></TD>
	<TD></TD>
	<TD colspan="7"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Underlying</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Granted to</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">or Base</FONT></B></TD>
	<TD></TD>
	<TD colspan="7"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Option</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Employees in</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Price</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Expiration</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Grant Date</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Granted(1)</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Fiscal Year</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">($/Share)</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Date</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Present Value(2)</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Andrew C. Florance
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">50,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">7.29</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">18.060</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4/16/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">695,665</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Lawrence J. Dressel
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">30,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4.38</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">18.060</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4/16/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">417,399</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Frank A. Carchedi
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">30,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4.38</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">18.060</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4/16/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">417,399</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">David M. Schaffel
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2.92</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">18.060</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4/16/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">278,266</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Craig S. Farrington
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2.92</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">18.060</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4/16/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">278,266</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John M. Place
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<HR size="1" width="18%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="4%"></TD>
	<TD width="96%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(1)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The options were granted on April&nbsp;17, 2001
	and have an exercise price equal to the fair market value of the
	Company&#146;s common stock on the grant date. The options vest
	and become exercisable in four equal installments on each of
	April&nbsp;17, 2002, April&nbsp;17, 2003, April&nbsp;17, 2004,
	and April&nbsp;17, 2005.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(2)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The grant date present value is computed using
	the Black-Scholes option-pricing model with the following
	assumptions: expected volatility of 100%, dividend yield of 0%,
	risk-free interest rate of 5.5%, and expected life of
	5&nbsp;years. These assumptions are not a forecast of future
	stock price performance or volatility or of future dividend
	policy. There is no assurance that the value received by an
	executive will be at or near the value estimated by the
	Black-Scholes model. The actual value of options will depend on
	the market value of the Company&#146;s common stock on the dates
	upon which the options are exercised.
	</FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Option Exercises and Fiscal Year-End
Values</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table provides certain information
regarding stock option exercises in fiscal year 2001, and
unexercised options held as of December&nbsp;31, 2001, by the
named executive officers.
</FONT>

<P align="center">
<B><FONT size="2">AGGREGATED OPTION EXERCISES IN LAST FISCAL
YEAR</FONT></B>

<DIV align="center">
<B><FONT size="2">AND YEAR-END 2001 OPTION VALUES</FONT></B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="27%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="7"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="7" align="center" nowrap><B><FONT size="1">Number of Securities</FONT></B></TD>
	<TD></TD>
	<TD colspan="7"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="7" align="center" nowrap><B><FONT size="1">Underlying Unexercised</FONT></B></TD>
	<TD></TD>
	<TD colspan="7" align="center" nowrap><B><FONT size="1">Value of Unexercised</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="7" align="center" nowrap><B><FONT size="1">Options Held</FONT></B></TD>
	<TD></TD>
	<TD colspan="7" align="center" nowrap><B><FONT size="1">in the Money Options at</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Shares</FONT></B></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="7" align="center" nowrap><B><FONT size="1">at December 31, 2001</FONT></B></TD>
	<TD></TD>
	<TD colspan="7" align="center" nowrap><B><FONT size="1">Fiscal Year-End(1)</FONT></B></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Acquired on</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Value</FONT></B></TD>
	<TD></TD>
	<TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Exercise</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Realized</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Exercisable</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Unexercisable</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Exercisable</FONT></B></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><B><FONT size="1">Unexercisable</FONT></B></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Andrew C. Florance
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">389,354</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">68,750</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,431,868</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">302,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Lawrence J. Dressel
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">15,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">95,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">178,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Frank A. Carchedi
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">45,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">45,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">300,200</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">178,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">David M. Schaffel
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">61,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">27,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">585,390</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">119,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Craig S. Farrington
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">5,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">35,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">119,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John M Place
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,900</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(2)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">15,600</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<HR size="1" width="18%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="4%"></TD>
	<TD width="96%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(1)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Calculated based on the amount by which the fair
	market value of the underlying security (assumed to be equal to
	its year-end closing price of $24.01) exceeds the option
	exercise price.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(2)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">On August&nbsp;2, 2001, Mr.&nbsp;Place exercised
	options to acquire 3,900 shares of common stock at an exercise
	price of $23.875 per share and sold those shares the same day
	for $27.875 per share.
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">16
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">
<B><FONT size="2">Compensation Committee Report On Executive
Compensation</FONT></B>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><I><FONT size="2">Compensation
Philosophy and Review</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The compensation philosophy of the Company is to
provide a competitive total compensation package so that the
Company can attract, retain, and motivate talented employees and
executives. The Company also believes in maximizing value for
stockholders by linking compensation to individual achievement
of agreed goals as they relate to overall corporate performance.
It also strives, as much as possible, to align the
Company&#146;s human resource strategy with its high-growth
business strategy.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In determining compensation levels for 1998 and
beyond, the Company commissioned a third-party consultant to
perform a special study with respect to the base salary, total
annual cash compensation, and long-term incentive compensation
of similarly situated officers within its peer group. The peer
group consists of companies that are in the specialized industry
of electronic information technology, are high-growth companies,
and are of a size comparable to the Company&#146;s.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Company&#146;s Compensation Committee
believes that compensation for the Company&#146;s executives
should be competitive in order to encourage and reward superior
performance.
</FONT>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><I><FONT size="2">Elements
of Executive Officer Compensation</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Company&#146;s executive compensation
consists primarily of base salary, annual cash bonuses, the
award of stock options, and health insurance and similar
benefits. The Company has employment arrangements with each of
its executive officers that entitles the executive to a
specified base salary, a bonus award up to a specified
percentage of base compensation based upon achievement of
performance objectives, and a competitive award of stock options
vesting over time. The compensation of executive officers is
reviewed on an annual basis.
</FONT>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><I><FONT size="2">Chief
Executive Officer Compensation</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In establishing the salary and bonus for
Mr.&nbsp;Florance, our Chief Executive Officer and President,
the Committee relied on its strong belief that Mr. Florance, as
Chief Executive Officer, significantly and directly influences
the Company&#146;s overall performance. Accordingly, the
Committee sought to achieve the following objectives:
(i)&nbsp;establish a base salary competitive with that paid to
other chief executive officers of high growth companies in the
peer group; (ii)&nbsp;reward Mr.&nbsp;Florance for superior
performance in connection with his contribution to the Company;
and (iii)&nbsp;reward Mr.&nbsp;Florance for outstanding
corporate performance by the Company for the fiscal year. Based
on these factors, in 2001 the Committee set
Mr.&nbsp;Florance&#146;s salary at $350,000 and paid
Mr.&nbsp;Florance a bonus of $300,000. In addition, in 2001
Mr.&nbsp;Florance received an option to purchase 50,000 shares
of the Company&#146;s common stock at an exercise price of
$18.06 per share, the Fair Market Value of the common stock on
the date of grant, of which one-fourth will vest on each
anniversary of the date of grant. The Committee believes that
granting options to Mr.&nbsp;Florance is important to align
Mr.&nbsp;Florance&#146;s interest with the interests of the
Company&#146;s stockholders.
</FONT>

<P align="left">
<I><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Base
Salaries</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Salary levels of the Company&#146;s senior
executives are reviewed annually, and may be adjusted to reflect
a senior executive&#146;s individual responsibilities and
performance, as well as the Company&#146;s corporate
performance. The Compensation Committee also considers salaries
paid to executive officers of the peer group in determining base
salary levels. The Compensation Committee believes that base
salaries should be generally competitive with high growth
companies in the peer group.
</FONT>

<P align="left">
<I><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annual Incentive
Programs</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Compensation Committee administers an annual
incentive plan for senior level executives, under which these
executives may receive a cash bonus based on individual and
corporate performance. The bonuses range from 0% to 100% of base
salary and are based on the executive&#146;s employment
agreement or employment terms with the Company. In setting these
ranges, the Compensation Committee considered the annual
incentive awards offered by members of the peer group and set
competitive annual incentive awards for superior performance.
The Compensation Committee considers the executive&#146;s
individual performance,
</FONT>

<P align="center"><FONT size="2">17
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">including whether or not the executive achieved
certain established goals, as well as the Company&#146;s
corporate performance in determining the amount of an
executive&#146;s incentive bonus.
</FONT>
</DIV>

<P align="left">
<I><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-Term
Incentive Plans</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Compensation Committee believes that granting
stock options to executive officers is critical to the
Company&#146;s success because these awards play a vital role in
attracting, retaining and rewarding executive officers of the
Company. The Committee believes that options are also important
in motivating executive officers to achieve the Company&#146;s
goals.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Each executive officer is eligible to receive
stock options under the CoStar Group, Inc. 1998 Stock Incentive
Plan. The Compensation Committee generally awards stock options
to each executive officer when he or she joins the Company.
Thereafter, the Compensation Committee, in its discretion, makes
periodic grants to reward or retain executive officers and to
provide incentives for future performance. Although executive
officers may receive stock options based on the Company&#146;s
financial performance, as well as on his or her individual
performance, there is no established formula or criteria for
grants under the Plan, and options may be granted on a
subjective basis at intervals determined by the Compensation
Committee.
</FONT>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><I><FONT size="2">Employment
Agreements</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our employment agreements with
Messrs.&nbsp;Florance, Carchedi and Schaffel became effective as
of January&nbsp;1, 1998, and our employment agreement with Mr.
Dressel became effective as of September&nbsp;25, 2000. The
employment agreements for Messrs.&nbsp;Dressel, Carchedi and
Schaffel are for initial terms of two years and the employment
agreement for Mr.&nbsp;Florance is for an initial term of three
years, and all are automatically renewable for successive
one-year terms unless the executive or we terminate the
agreement. Mr.&nbsp;Farrington has at-will employment terms. The
employment agreements for Messrs.&nbsp;Florance, Dressel,
Carchedi, and Schaffel contain covenants not to compete with us
for the two years immediately following termination.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The employment agreements for
Messrs.&nbsp;Florance, Dressel, Carchedi and Schaffel generally
provide that, if we terminate the executive&#146;s employment
without cause (which include &#147;changes of control&#148; of
the Company under certain circumstances), the executive is
entitled to certain severance benefits as follows. If we
terminate Mr.&nbsp;Florance without cause or if he terminates
his agreement for good cause, he is entitled to his base salary
for the greater of one year or whatever period remains under the
agreement, his bonus for the year in which the termination
occurred, the immediate vesting of all of his stock options, and
a gross-up payment to cover any taxes assessed under
Section&nbsp;4999 of the Internal Revenue Code. If we terminate
Messrs.&nbsp;Carchedi or Schaffel without cause, each is
entitled to his base salary for the greater of six months or
whatever period remains under the agreement, to a prorated share
of his bonus for the year in which termination occurred, and to
the immediate vesting of all stock options due to vest within
the following twelve months. If we terminate Mr.&nbsp;Dressel
without cause, he is entitled to his base salary for a period of
twelve months. Mr.&nbsp;Farrington is not entitled to any
severance benefits if he is terminated without cause.
</FONT>

<P align="left">
<I><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy on
Deductibility of Compensation</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Section&nbsp;162(m) of the Internal Revenue Code
disallows the deduction of compensation by a company to its
Chief Executive Officer and any of its four most highly
compensated executive officers that is in excess of
$1&nbsp;million. Compensation that is considered
&#147;performance-based&#148; is excluded from the $1 million
limit if, among other requirements, the compensation is payable
only upon attainment of pre-established, objective performance
goals under a plan approved by the stockholders. The
Compensation Committee will continue to monitor total
compensation and, should the 162(m) limitation become an issue,
take the measures that they deem appropriate.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="38%"></TD>
	<TD width="62%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">By the Compensation Committee <BR>
	 of the Board of Directors <BR>
	 April&nbsp;23, 2002 <BR>
	 <BR>
	 Warren H. Haber, Chairman <BR>
	 David Bonderman <BR>
	 Michael R. Klein
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">18
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">
<B><FONT size="2">Stock Price Performance Graph</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The stock performance graph below shows how an
initial investment of $100 in our common stock would have
compared to:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="3%"></TD>
        <TD width="1%"></TD>
        <TD width="96%"></TD>
</TR>

<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
        <TD align="left">
        <FONT size="2">An equal investment in the S&#38;P 500 Index.
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
        <TD align="left">
        <FONT size="2">An equal investment in the S&#38;P Computers
        (Software) Index.
        </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The comparison covers the period beginning
July&nbsp;1, 1998, the first day of public trading of our common
stock, and ending on December&nbsp;31, 2001, and assumes the
reinvestment of any dividends. You should note that this
performance is historical and is not necessarily indicative of
future price performance.
</FONT>

<P align="left">
<IMG src="w60092w6009201.gif">

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
        <TD width="37%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD></TD>
        <TD></TD>
        <TD colspan="3" align="center" nowrap><B><FONT size="1">CoStar Group, Inc.</FONT></B></TD>
        <TD></TD>
        <TD colspan="3" align="center" nowrap><B><FONT size="1">S&#38;P 500 Index</FONT></B></TD>
        <TD></TD>
        <TD colspan="3" align="center" nowrap><B><FONT size="1">S&#38;P Computer (Software)</FONT></B></TD>
</TR>

<TR>
        <TD></TD>
        <TD></TD>
        <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
        <TD></TD>
        <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
        <TD></TD>
        <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2">7/1/98
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">100.00</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">100.00</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">100.00</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2">12/31/98
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">137.41</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">107.83</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">118.63</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2">12/31/99
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">390.45</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">130.52</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">219.37</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2">12/31/00
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">257.13</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">118.64</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">103.65</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2">12/31/01
        </FONT></DIV>
        </TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">261.32</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">104.54</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="bottom" nowrap><FONT size="2">104.32</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="center">

</DIV>

<P align="left">
<B><FONT size="2">Certain Relationships and Related
Transactions</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Other than as described under &#147;Compensation
Committee Interlocks and Insider Participation,&#148; since
January&nbsp;1, 2001 none of our executive officers or directors
has engaged in or had a direct or indirect interest in any
transactions with us that are required to be disclosed.
</FONT>

<P align="left">
<B><FONT size="2">Section&nbsp;16(a) Beneficial Ownership
Reporting Compliance</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Section&nbsp;16(a) of the Securities Exchange Act
of 1934 requires that our directors and executive officers, and
anyone who owns more than 10% of our common stock, file with the
Securities and Exchange Commission reports of initial ownership
and reports of changes in ownership of our common stock, and to
furnish us with copies of those reports. Based solely on a
review of the reports furnished to us, we believe that during
2001, our directors, executive officers, and 10% stockholders
complied with these requirements.
</FONT>

<P align="left">
<B><FONT size="2">Other Information</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We have included a copy of our Annual Report for
the year ended December 31, 2001 with this Proxy Statement.
<B>You may obtain a copy of our annual report on Form&nbsp;10-K,
including the financial statements and financial statement
schedules, without charge by sending a written request to Mark
A. Klionsky, Senior</B>
</FONT>

<P align="center"><FONT size="2">19
</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<B><FONT size="2">Vice President of Marketing and Corporate
Communications, CoStar Group, Inc., 2 Bethesda Metro Center,
Tenth Floor, Bethesda, Maryland 20814</FONT></B><FONT size="2">.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This proxy is solicited on behalf of the Board of
Directors. The Company will bear all expenses in connection with
the Annual Meeting and this proxy solicitation. We have retained
Innisfree M&#38;A Incorporated to assist in distribution of
these proxy materials and soliciting proxy voting instructions,
at an estimated cost not to exceed $7,500 plus reasonable
expenses. They may solicit proxies in person, by telephone, by
mail, telegram, facsimile, or other electronic or other means,
and will request that brokerage houses, banks, and other
custodians forward proxy material to beneficial owners of our
common stock. We will reimburse brokerage houses, banks, and
other custodians for their reasonable expenses for forwarding
these materials to beneficial owners. American Stock Transfer
and Trust Company will act as proxy tabulator.
</FONT>

<P align="center"><FONT size="2">20
</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<!-- link1 "Appendix A" -->

<P align="center">
<B><FONT size="2">Appendix&nbsp;A</FONT></B>

<P align="center">
<B>COSTAR GROUP, INC.</B>

<DIV align="center">
<B>1998 STOCK INCENTIVE PLAN</B>
</DIV>

<DIV align="center">
<B><FONT size="2">(AS AMENDED)</FONT></B>
</DIV>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
        <TD width="20%"></TD>
        <TD width="1%"></TD>
        <TD width="79%"></TD>
</TR>

<TR>
        <TD valign="top">
        <B><FONT size="2">PURPOSE</FONT></B></TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">CoStar Group, Inc., a Delaware corporation
        (&#147;<I>CoStar</I>&#148; or the &#147;<I>Company</I>&#148;),
        wishes to recruit, reward, and retain employees and outside
        directors. To further these objectives, the Company hereby sets
        forth the CoStar Group, Inc. 1998 Stock Incentive Plan (the
        &#147;<I>Plan</I>&#148;) to provide options
        (&#147;<I>Options</I>&#148;) or direct grants (&#147;<I>Stock
        Grants</I>&#148; and, together with the Options,
        &#147;<I>Awards</I>&#148;) to employees and outside directors
        with respect to shares of the Company&#146;s common stock (the
        &#147;<I>Common Stock</I>&#148;). The Plan is effective as of
        the effective date (the &#147;<I>Effective Date</I>&#148;) of
        the Company&#146;s registration under Section&nbsp;12 of the
        Securities Exchange Act of 1934 (the
        &#147;<I>Exchange&nbsp;Act</I>&#148;) with respect to its
        initial public offering (&#147;<I>IPO</I>&#148;).
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR>
        <TD valign="top">
        <B><FONT size="2">PARTICIPANTS</FONT></B></TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">All Employees of CoStar and any Eligible
        Subsidiaries are eligible for Options and Stock Grants under
        this Plan, as are the directors of CoStar and the Eligible
        Subsidiaries who are not employees (&#147;<I>Eligible
        Directors</I>&#148;). Eligible employees and directors become
        &#147;<I>optionees</I>&#148; when the Administrator grants them
        an option under this Plan or &#147;<I>recipients</I>&#148; when
        they receive a direct grant of Common Stock. (Optionees and
        recipients are referred to collectively as
        &#147;<I>participants.</I>&#148; The term <I>participant</I>
        also includes, where appropriate, a person authorized to
        exercise an Award in place of the original optionee.) The
        Administrator may also grant Options or make Stock Grants to
        certain other service providers.
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR>
        <TD valign="top">
</TD>
        <TD></TD>
        <TD valign="top">
        <I><FONT size="2">Employee</FONT></I><FONT size="2"> means any
        person employed as a common law employee of the Company or an
        Eligible Subsidiary.
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR>
        <TD valign="top">
        <B><FONT size="2">ADMINISTRATOR</FONT></B></TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">The Administrator will be the Compensation
        Committee of the Board of Directors of CoStar (the
        &#147;<I>Compensation Committee</I>&#148;), unless the Board
        specifies another committee. The Board may also act under the
        Plan as though it were the Compensation Committee.
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR>
        <TD valign="top">
</TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">The Administrator is responsible for the general
        operation and administration of the Plan and for carrying out
        its provisions and has full discretion in interpreting and
        administering the provisions of the Plan. Subject to the express
        provisions of the Plan, the Administrator may exercise such
        powers and authority of the Board as the Administrator may find
        necessary or appropriate to carry out its functions. The
        Administrator may delegate its functions (other than those
        described in the <B>Granting of Awards</B> section) to officers
        or employees of CoStar.
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR>
        <TD valign="top">
</TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">The Administrator&#146;s powers will include, but
        not be limited to, the power to amend, waive, or extend any
        provision or limitation of any Award. The Administrator may act
        through meetings of a majority of its members or by unanimous
        consent.
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR>
        <TD valign="top">
        <B><FONT size="2">GRANTING OF AWARDS</FONT></B></TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">Subject to the terms of the Plan, the
        Administrator will, in its sole discretion, determine
        </FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
        <TD width="24%"></TD>
        <TD width="1%"></TD>
        <TD width="75%"></TD>
</TR>

<TR>
        <TD valign="top">
</TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">the participants who receive Awards,
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR>
        <TD valign="top">
</TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">the terms of such Awards,
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR>
        <TD valign="top">
</TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">the schedule for exercisability or
        nonforfeitability (including any requirements that the
        participant or the Company satisfy performance criteria),
        </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">B-1
</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="24%"></TD>
	<TD width="1%"></TD>
	<TD width="75%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">the time and conditions for expiration of the
	Award, and
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">the form of payment due upon exercise, if any.
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Administrator&#146;s determinations under the
	Plan need not be uniform and need not consider whether possible
	participants are similarly situated.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Options granted to employees may be nonqualified
	stock options (&#147;<I>NQSOs</I>&#148;) or &#147;incentive
	stock options&#148; (&#147;<I>ISOs</I>&#148;) within the meaning
	of Section&nbsp;422 of the Internal Revenue Code of 1986, as
	amended from time to time (the &#147;<I>Code</I>&#148;), or the
	corresponding provision of any subsequently enacted tax statute.
	Options granted to Eligible Directors must be NQSOs. The
	Administrator will not grant ISOs unless the stockholders have
	approved the Plan.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Administrator may impose such conditions on
	or charge such price for the Stock Grants as it deems
	appropriate.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>S<FONT size="2">ubstitutions</FONT></I></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Administrator may also grant Awards in
	substitution for options or other equity interests held by
	individuals (i)&nbsp;as a result of their employment by or
	services to CoStar Group, L.P. or (ii)&nbsp;who become Employees
	of the Company or of an Eligible Subsidiary as a result of the
	Company&#146;s acquiring or merging with the individual&#146;s
	employer or acquiring its assets. If necessary to conform the
	Awards to the interests for which they are substitutes, the
	Administrator may grant substitute Awards under terms and
	conditions that vary from those the Plan otherwise requires.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">DIRECTOR FORMULA OPTIONS</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">At the first Board meeting after each annual
	meeting of stockholders, the Chairman of the Board of Directors
	and each non-employee director serving on the Board of Directors
	will receive an automatic grant of Options to purchase 5,000
	shares of Common Stock of the Company. These options will have
	an exercise price equal to the Fair Market Value (as defined
	below) of the Common Stock on the date of grant, and one-fourth
	will vest and become exercisable on each anniversary of the date
	of grant, as long as such director is still serving on our Board
	of Directors on such vesting date.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">At the first Board meeting after each annual
	meeting of stockholders, the Chairman of each Board committee of
	the Company will receive an automatic grant of Options to
	purchase 1,000 shares of Common Stock of the Company. These
	options will have an exercise price equal to the Fair Market
	Value of the Common Stock on the date of grant, and one-fourth
	will vest on each anniversary of the date of grant, as long as
	such director is still serving on the Company&#146;s Board of
	Directors on such vesting date.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">DATE OF GRANT</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The <I>Date of Grant</I> will be the date as of
	which this Plan or the Administrator grants an Award to a
	participant, as specified in the Plan or in the
	Administrator&#146;s minutes.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">EXERCISE PRICE</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The <I>Exercise Price</I> is the value of the
	consideration that a participant must provide in exchange for
	one share of Common Stock. The Administrator will determine the
	Exercise Price under each Award and may set the Exercise Price
	without regard to the Exercise Price of any other Awards granted
	at the same or any other time. The Company may use the
	consideration it receives from the participant for general
	corporate purposes.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Exercise Price per share for NQSOs may not be
	less than 100% of the Fair Market Value (as defined in the Plan)
	of a share on the Date of Grant. If an Option is intended to be
	an ISO, the Exercise Price per share may not be less than 100%
	of the Fair Market Value (on the Date of Grant) of a share of
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">B-2
</FONT>

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<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Common Stock covered by the Option; <I>provided,
	however,</I> that if the Administrator decides to grant an ISO
	to someone covered by Sections&nbsp;422(b)(6) and 424(d) (as a
	more-than-10%-stock-owner), the Exercise Price of the Option
	must be at least 110% of the Fair Market Value (on the Date of
	Grant).
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Administrator may satisfy any state law
	requirements regarding adequate consideration for Stock Grants
	by (i) issuing Common Stock held as treasury stock or (ii)
	charging the recipients at least the par value for the shares
	covered by the Stock Grant. The Administrator may designate that
	a recipient may satisfy (ii)&nbsp;either by direct payments or
	by the Administrator&#146;s withholding from other payments due
	to the recipient.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<I><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>F<FONT size="2">air
	</FONT>M<FONT size="2">arket
	</FONT>V<FONT size="2">alue</FONT></I></TD>
	<TD></TD>
	<TD valign="top">
	<I><FONT size="2">Fair Market Value </FONT></I><FONT size="2">of
	a share of Common Stock for purposes of the Plan will be
	determined as follows:
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="24%"></TD>
	<TD width="1%"></TD>
	<TD width="75%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">if the Common Stock is traded on a national
	securities exchange, the closing sale price on that date;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">if the Common Stock is not traded on any such
	exchange, the closing sale price as reported by the National
	Association of Securities Dealers, Inc. Automated Quotation
	System (&#147;<I>Nasdaq</I>&#148;) for such date;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">if no such closing sale price information is
	available, the average of the closing bid and asked prices as
	reported by Nasdaq for such date; or
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">if there are no such closing bid and asked
	prices, the average of the closing bid and asked prices as
	reported by any other commercial service for such date.
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">For any date that is not a trading day, the Fair
	Market Value of a share of Common Stock for such date shall be
	determined by using the closing sale price or the average of the
	closing bid and asked prices, as appropriate, for the
	immediately preceding trading day.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Fair Market Value will be deemed equal to the
	IPO price for any Options granted as of the date on which the
	IPO&#146;s underwriters price the IPO.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">EXERCISABILITY</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Administrator will determine the times and
	conditions for exercise of or purchase under each Award but may
	not extend the period for exercise beyond the tenth anniversary
	of its Date of Grant (or five years for ISOs granted to 10%
	owners covered by Code Sections&nbsp;422(b)(6) and 424(d)).
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Awards will become exercisable at such times and
	in such manner as the Administrator determines and the Award
	Agreement, if any, indicates; <I>provided, however,</I> that the
	Administrator may, on such terms and conditions as it determines
	appropriate, accelerate the time at which the participant may
	exercise any portion of an Award or at which restrictions on
	Stock Grants lapse. For Stock Grants, &#147;exercise&#148;
	refers to acceptance of the Award or lapse of restrictions, as
	appropriate in context.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">If the Administrator does not specify otherwise,
	Options will become exercisable and restrictions on Stock Grants
	(other than the Director Formula Grants) will lapse as to
	one-third of the covered shares on each of the first, second,
	and third anniversaries of the Date of Grant.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">No portion of an Award that is unexercisable at a
	participant&#146;s termination of employment will thereafter
	become exercisable, unless the Award Agreement provides
	otherwise, either initially or by amendment.
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">B-3
</FONT>

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<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
	<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>C<FONT size="2">hange
	of </FONT>C<FONT size="2">ontrol</FONT></I></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Upon a Change of Control (as defined below), all
	Options held by current Employees and directors will become
	fully exercisable and all restrictions on Stock Grants will
	lapse. A <I>Change of Control</I> for this purpose means the
	occurrence, after the Company&#146;s IPO, of any one or more of
	the following events:
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="24%"></TD>
	<TD width="1%"></TD>
	<TD width="75%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">a person, entity, or group (other than the
	Company, any Company subsidiary, any Company benefit plan, or
	any underwriter temporarily holding securities for an offering
	of such securities) acquires ownership of more than 80% of the
	undiluted total voting power of the Company&#146;s
	then-outstanding securities eligible to vote to elect members of
	the Board (&#147;<I>Company Voting Securities</I>&#148;);
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">consummation of a merger or consolidation of the
	Company into any other entity&nbsp;&#151; unless the holders of
	the Company Voting Securities outstanding immediately before
	such consummation, together with any trustee or other fiduciary
	holding securities under a Company benefit plan, hold securities
	that represent immediately after such merger or consolidation at
	least 20% of the combined voting power of the then outstanding
	voting securities of either the Company or the other surviving
	entity or its parent; or
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">the stockholders of the Company approve
	(i)&nbsp;a plan of complete liquidation or dissolution of the
	Company or (ii)&nbsp;an agreement for the Company&#146;s sale or
	disposition of all or substantially all the Company&#146;s
	assets, <I>and </I>such liquidation, dissolution, sale, or
	disposition is consummated.
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Even if other tests are met, a Change of Control
	has not occurred under any circumstance in which the Company
	files for bankruptcy protection or is reorganized following a
	bankruptcy filing.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The <B>Adjustment Upon Changes in Capital
	Stock</B> provisions will also apply if the Change of Control is
	a <B>Substantial Corporate Change</B> (as defined in those
	provisions).
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">LIMITATION ON ISOS</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">An Option granted to an employee will be an ISO
	only to the extent that the aggregate Fair Market Value
	(determined at the Date of Grant) of the stock with respect to
	which ISOs are exercisable for the first time by the optionee
	during any calendar year (under the Plan and all other plans of
	the Company and its subsidiary corporations, within the meaning
	of Code Section&nbsp;422(d)), does not exceed $100,000. This
	limitation will be applied by taking Options into account in the
	order in which such Options were granted. If, by design or
	operation, the Option exceeds this limit, the excess will be
	treated as an NQSO.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">METHOD OF EXERCISE</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">To exercise any exercisable portion of an Award,
	the participant must:
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="24%"></TD>
	<TD width="1%"></TD>
	<TD width="75%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Deliver a written notice of exercise to the
	Secretary of the Company (or to whomever the Administrator
	designates), in a form complying with any rules the
	Administrator may issue, signed by the participant, and
	specifying the number of shares of Common Stock underlying the
	portion of the Award the participant is exercising;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Pay the full Exercise Price, if any, by
	cashier&#146;s or certified check for the shares of Common Stock
	with respect to which the Award is being exercised, unless the
	Administrator consents to another form of payment (which could
	include the use of Common Stock); and
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">B-4
</FONT>

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<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="24%"></TD>
	<TD width="1%"></TD>
	<TD width="75%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Deliver to the Administrator such representations
	and documents as the Administrator, in its sole discretion, may
	consider necessary or advisable.
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Payment in full of the Exercise Price need not
	accompany the written notice of exercise provided the notice
	directs that the stock certificates for the shares issued upon
	the exercise be delivered to a licensed broker acceptable to the
	Company as the agent for the individual exercising the option
	and at the time of closing of the sale of the Common Stock
	issued upon exercise of the Option, the broker will tender to
	the Company cash or cash equivalents acceptable to the Company
	and equal to the Exercise Price.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">If the Administrator agrees to payment through
	the tender to the Company of shares of Common Stock, the
	individual must have held the stock being tendered for at least
	six months at the time of surrender. Shares of stock offered as
	payment will be valued, for purposes of determining the extent
	to which the participant has paid the Exercise Price, at their
	Fair Market Value on the date of exercise. The Administrator may
	also, in its discretion, accept attestation of ownership of
	Common Stock and issue a net number of shares upon Option
	exercise.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">AWARD EXPIRATION</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">No one may exercise an Award more than ten years
	after its Date of Grant (or five years, for an ISO granted to a
	more-than-10% shareholder). Unless the Award Agreement provides
	otherwise, either initially or by amendment, no one may exercise
	an Award after the first to occur of:
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><I><FONT size="2">
	</FONT>E<FONT size="2">mployment <BR>
	 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>T<FONT size="2">ermination</FONT></I></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The 90th day after the date of termination of
	employment (other than for death or Disability), where
	termination of employment means the time when the
	employer-employee or other service-providing relationship
	between the employee and the Company ends for any reason,
	including retirement. Unless the Award Agreement provides
	otherwise, termination of employment does not include instances
	in which the Company immediately rehires a common law employee
	as an independent contractor. The Administrator, in its sole
	discretion, will determine all questions of whether particular
	terminations or leaves of absence are terminations of employment;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<I><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>D<FONT size="2">isability</FONT></I></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">For disability, the earlier of (i)&nbsp;the first
	anniversary of the participant&#146;s termination of employment
	for disability and (ii)&nbsp;thirty (30)&nbsp;days after the
	participant no longer has a disability, where
	&#147;<I>disability</I>&#148; means the inability to engage in
	any substantial gainful activity by reason of any medically
	determinable physical or mental impairment that can be expected
	to result in death or that has lasted or can be expected to last
	for a continuous period of not less than twelve months; or
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>D<FONT size="2">eath</FONT></I></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The date twelve months after the
	participant&#146;s death.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">If exercise is permitted after termination of
	employment, the Award will nevertheless expire as of the date
	that the former service provider violates any covenant not to
	compete in effect between the Company and the former employee.
	In addition, an optionee who exercises an Option more than
	90&nbsp;days after termination of employment with the Company
	and/or the Eligible Subsidiaries will only receive ISO treatment
	to the extent permitted by law, and becoming or remaining an
	employee of another related company (that is not an Eligible
	Subsidiary) or an independent contractor to the Company will not
	prevent loss of ISO status as a result of the formal termination
	of employment. Nothing in this Plan extends the term of an Award
	beyond the tenth anniversary of its Date of Grant, nor does
	anything in this <B>Award</B>
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">B-5
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<B><FONT size="2">Expiration</FONT></B><FONT size="2"> section
	make an Award exercisable that has not otherwise become
	exercisable.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">AGREEMENT AWARD</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Option Agreements will set forth the terms of
	each Option and will include such terms and conditions,
	consistent with the Plan, as the Administrator may determine are
	necessary or advisable. To the extent the agreement is
	inconsistent with the Plan, the Plan will govern. The Option
	Agreements may contain special rules. The Administrator may, but
	is not required to, issue agreements for Stock Grants.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">STOCK SUBJECT TO PLAN</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Except as adjusted below under <B>Corporate
	Changes</B>, the aggregate number of shares of Common Stock that
	may be issued under the Awards (whether ISOs, NQSOs, or Stock
	Grants) may not exceed 3,750,000 shares and the maximum number
	of shares that may be granted under Awards for a single
	individual in a calendar year may not exceed 400,000 shares.
	(The individual maximum applies only to Awards first made under
	this Plan and not to Awards made in substitution of a prior
	employer&#146;s options or other incentives, except as Code
	Section&nbsp;162(m) otherwise requires.) The Common Stock will
	come from either authorized but unissued shares or from
	previously issued shares that the Company reacquires, including
	shares it purchases on the open market. If any Award expires, is
	canceled, or terminates for any other reason, the shares of
	Common Stock available under that Award will again be available
	for the granting of new Awards (but will be counted against that
	calendar year&#146;s limit for a given individual).
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">No adjustment will be made for a dividend or
	other right for which the record date precedes the date of
	exercise.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The participant will have no rights of a
	stockholder with respect to the shares of stock subject to an
	Award except to the extent that the Company has issued
	certificates for, or otherwise confirmed ownership of, such
	shares upon the exercise of the Award.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Company will not issue fractional shares
	pursuant to the exercise of an Award, but the Administrator may,
	in its discretion, direct the Company to make a cash payment in
	lieu of fractional shares.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">PERSON WHO MAY EXERCISE</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">During the participant&#146;s lifetime, only the
	participant or his duly appointed guardian or personal
	representative may exercise the Awards. After his death, his
	personal representative or any other person authorized under a
	will or under the laws of descent and distribution may exercise
	any then exercisable portion of an Award. If someone other than
	the original recipient seeks to exercise any portion of an
	Award, the Administrator may request such proof as it may
	consider necessary or appropriate of the person&#146;s right to
	exercise the Award.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">ADJUSTMENTS UPON CHANGES IN CAPITAL
	STOCK</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Subject to any required action by the Company
	(which it shall promptly take) or its stockholders, and subject
	to the provisions of applicable corporate law, if, after the
	Date of Grant of an Award,
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="24%"></TD>
	<TD width="1%"></TD>
	<TD width="75%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">the outstanding shares of Common Stock increase
	or decrease or change into or are exchanged for a different
	number or kind of security by reason of any recapitalization,
	reclassification, stock split, reverse stock split, combination
	of shares, exchange of shares, stock dividend, or other
	distribution payable in capital stock, or
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">some other increase or decrease in such Common
	Stock occurs without the Company&#146;s receiving consideration,
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">B-6
</FONT>

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<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">the Administrator may make a proportionate and
	appropriate adjustment in the number of shares of Common Stock
	underlying each Award, so that the proportionate interest of the
	participant immediately following such event will, to the extent
	practicable, be the same as immediately before such event. (This
	adjustment does not apply to Common Stock that the optionee has
	already purchased nor to Stock Grants that are already
	nonforfeitable, except to the extent of similar treatment for
	all stockholders.) Unless the Administrator determines another
	method would be appropriate, any such adjustment to an Award
	will not change the total price with respect to shares of Common
	Stock underlying the unexercised portion of the Award but will
	include a corresponding proportionate adjustment in the
	Award&#146;s Exercise Price.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Administrator will make a commensurate change
	to the maximum number and kind of shares provided in the
	<B>Stock Subject to Plan </B>section.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Any issue by the Company of any class of
	preferred stock, or securities convertible into shares of common
	or preferred stock of any class, will not affect, and no
	adjustment by reason thereof will be made with respect to, the
	number of shares of Common Stock subject to any Award or the
	Exercise Price except as this <B>Adjustments</B> section
	specifically provides. The grant of an Award under the Plan will
	not affect in any way the right or power of the Company to make
	adjustments, reclassifications, reorganizations or changes of
	its capital or business structure, or to merge or to
	consolidate, or to dissolve, liquidate, sell, or transfer all or
	any part of its business or assets.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>
	Substantial &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate
	Change</I>
	</FONT></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Upon a <I>Substantial Corporate Change</I>, the
	Plan and any unexercised Awards will terminate unless provision
	is made in writing in connection with such transaction for
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="24%"></TD>
	<TD width="1%"></TD>
	<TD width="75%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">the assumption or continuation of outstanding
	Awards, or
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">the substitution for such options or grants of
	any options or grants covering the stock or securities of a
	successor employer corporation, or a parent or subsidiary of
	such successor, with appropriate adjustments as to the number
	and kind of shares of stock and prices, in which event the
	Awards will continue in the manner and under the terms so
	provided.
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Unless the Board determines otherwise, if an
	Award would otherwise terminate pursuant to the preceding
	sentence, participants who are then Employees or directors of
	the Company will have the right, at such time before the
	consummation of the transaction causing such termination as the
	Board reasonably designates, to exercise any unexercised
	portions of the Award, whether or not they had previously become
	exercisable. However, unless the Board determines otherwise, the
	acceleration will not occur if it would render unavailable
	&#147;pooling of interest&#148; accounting for any
	reorganization, merger, or consolidation of the Company.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">A <I>Substantial Corporate Change </I>means the
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="24%"></TD>
	<TD width="1%"></TD>
	<TD width="75%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">dissolution or liquidation of the Company,
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">merger, consolidation, or reorganization of the
	Company with one or more corporations in which the Company is
	not the surviving corporation,
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">the sale of substantially all of the assets of
	the Company to another corporation, or
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">any transaction (including a merger or
	reorganization in which the Company survives) approved by the
	Board that results in any person or
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">B-7
</FONT>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="25%"></TD>
	<TD width="75%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">entity (other than any affiliate of the Company
	as defined in Rule&nbsp;144(a)(1) under the Securities Act)
	owning 100% of the combined voting power of all classes of stock
	of the Company.
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">SUBSIDIARY EMPLOYEES</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Employees of Company Subsidiaries will be
	entitled to participate in the Plan, except as otherwise
	designated by the Board of Directors or the Committee.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Eligible Subsidiary means each of the
	Company&#146;s Subsidiaries, except as the Board otherwise
	specifies. For ISO grants, <I>Subsidiary </I>means any
	corporation (other than the Company) in an unbroken chain of
	corporations beginning with the Company if, at the time an ISO
	is granted to a Participant under the Plan, each of the
	corporations (other than the last corporation in the unbroken
	chain) owns stock possessing 50% or more of the total combined
	voting power of all classes of stock in one of the other
	corporations in such chain. For NQSOs, the Board or the
	Committee can use a different definition of Subsidiary in its
	discretion.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">LEGAL COMPLIANCE</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Company will not issue any shares of Common
	Stock under an Award until all applicable requirements imposed
	by Federal and state securities and other laws, rules, and
	regulations, and by any applicable regulatory agencies or stock
	exchanges, have been fully met. To that end, the Company may
	require the participant to take any reasonable action to comply
	with such requirements before issuing such shares. No provision
	in the Plan or action taken under it authorizes any action that
	is otherwise prohibited by Federal or state laws.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Plan is intended to conform to the extent
	necessary with all provisions of the Securities Act of 1933
	(&#147;<I>Securities Act</I>&#148;) and the Exchange Act and all
	regulations and rules the Securities and Exchange Commission
	issues under those laws. Notwithstanding anything in the Plan to
	the contrary, the Administrator must administer the Plan, and
	Awards may be granted and exercised, only in a way that conforms
	to such laws, rules, and regulations. To the extent permitted by
	applicable law, the Plan and any Awards will be deemed amended
	to the extent necessary to conform to such laws, rules, and
	regulations.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">PURCHASE FOR INVESTMENT AND OTHER
	RESTRICTIONS</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Unless a registration statement under the
	Securities Act covers the shares of Common Stock a participant
	receives upon exercise of his Award, the Administrator may
	require, at the time of such exercise or receipt of a grant,
	that the participant agree in writing to acquire such shares for
	investment and not for public resale or distribution, unless and
	until the shares subject to the Award are registered under the
	Securities Act. Unless the shares are registered under the
	Securities Act, the participant must acknowledge:
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="24%"></TD>
	<TD width="1%"></TD>
	<TD width="75%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">that the shares purchased on exercise of the
	Award are not so registered,
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">that the participant may not sell or otherwise
	transfer the shares unless
	</FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="25%"></TD>
	<TD width="1%"></TD>
	<TD width="74%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">the shares have been registered under the
	Securities Act in connection with the sale or transfer thereof,
	or
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">counsel satisfactory to the Company has issued an
	opinion satisfactory to the Company that the sale or other
	transfer of such shares is exempt from registration under the
	Securities Act, and
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">such sale or transfer complies with all other
	applicable laws, rules, and regulations, including all
	applicable Federal and state securities laws, rules, and
	regulations.
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">B-8
</FONT>
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<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Additionally, the Common Stock, when issued upon
	the exercise of an Award, will be subject to any other transfer
	restrictions, rights of first refusal, and rights of repurchase
	set forth in or incorporated by reference into other applicable
	documents, including the Company&#146;s articles or certificate
	of incorporation, by-laws, or generally applicable
	stockholders&#146; agreements.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Administrator may, in its sole discretion,
	take whatever additional actions it deems appropriate to comply
	with such restrictions and applicable laws, including placing
	legends on certificates and issuing stop-transfer orders to
	transfer agents and registrars.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">TAX WITHHOLDING</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The participant must satisfy all applicable
	Federal, state, and local income and employment tax withholding
	requirements before the Company will deliver stock certificates
	upon the exercise of an Award. The Company may decide to satisfy
	the withholding obligations through additional withholding on
	salary or wages. If the Company does not or cannot withhold from
	other compensation, the participant must pay the Company, with a
	cashier&#146;s check or certified check, the full amounts
	required by withholding. Payment of withholding obligations is
	due before the Company issues shares with respect to the Award.
	If the Committee so determines, the participant may instead
	satisfy the withholding obligations by directing the Company to
	retain shares from the Award exercise, by tendering previously
	owned shares, or by attesting to his ownership of shares (with
	the distribution of net shares).
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">TRANSFERS, ASSIGNMENTS, AND PLEDGES</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Unless the Administrator otherwise approves in
	advance in writing, an Award may not be assigned, pledged, or
	otherwise transferred in any way, whether by operation of law or
	otherwise or through any legal or equitable proceedings
	(including bankruptcy), by the participant to any person, except
	by will or by operation of applicable laws of descent and
	distribution. If Rule&nbsp;16b-3 then applies to an Award, the
	participant may not transfer or pledge shares of Common Stock
	acquired under a Stock Grant or upon exercise of an Option until
	at least six&nbsp;(6) months have elapsed from (but excluding)
	the Date of Grant, unless the Administrator approves otherwise
	in advance in writing.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">AMENDMENT OR TERMINATION OF PLAN AND
	OPTIONS</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The Board may amend, suspend, or terminate the
	Plan at any time, without the consent of the participants or
	their beneficiaries; <I>provided</I>, <I>however</I>, that no
	amendment will deprive any participant or beneficiary of any
	previously declared Award. Except as required by law or by the
	<B>Corporate Change</B>s section, the Administrator may not,
	without the participant&#146;s or beneficiary&#146;s consent,
	modify the terms and conditions of an Award so as to adversely
	affect the participant. No amendment, suspension, or termination
	of the Plan will, without the participant&#146;s or
	beneficiary&#146;s consent, terminate or adversely affect any
	right or obligations under any outstanding Awards.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">PRIVILEGES OF STOCK OWNERSHIP</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">No participant and no beneficiary or other person
	claiming under or through such participant will have any right,
	title, or interest in or to any shares of Common Stock allocated
	or reserved under the Plan or subject to any Award except as to
	such shares of Common Stock, if any, that have been issued to
	such participant.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">EFFECT ON OTHER PLANS</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Whether exercising or receiving an Award causes
	the participant to accrue or receive additional benefits under
	any pension or other plan is governed solely by the terms of
	such other plan.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">LIMITATIONS ON LIABILITY</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Notwithstanding any other provisions of the Plan,
	no individual acting as a director, employee, or agent of the
	Company shall be liable to any participant,
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">B-9
</FONT>

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<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="20%"></TD>
	<TD width="1%"></TD>
	<TD width="79%"></TD>
</TR>

<TR>
	<TD valign="top">
</TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">former participant, spouse, beneficiary, or any
	other person for any claim, loss, liability, or expense incurred
	in connection with the Plan, nor shall such individual be
	personally liable because of any contract or other instrument he
	executes in such other capacity. The Company will indemnify and
	hold harmless each director, employee, or agent of the Company
	to whom any duty or power relating to the administration or
	interpretation of the Plan has been or will be delegated,
	against any cost or expense (including attorneys&#146; fees) or
	liability (including any sum paid in settlement of a claim with
	the Board&#146;s approval) arising out of any act or omission to
	act concerning this Plan unless arising out of such
	person&#146;s own fraud or bad faith.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">NO EMPLOYMENT CONTRACT</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Nothing contained in this Plan constitutes an
	employment contract between the Company and the participants.
	The Plan does not give any participant any right to be retained
	in the Company&#146;s employ, nor does it enlarge or diminish
	the Company&#146;s right to terminate the participant&#146;s
	employment.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">APPLICABLE LAW</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">The laws of the State of Delaware (other than its
	choice of law provisions) govern this Plan and its
	interpretation.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR>
	<TD valign="top">
	<B><FONT size="2">DURATION OF PLAN</FONT></B></TD>
	<TD></TD>
	<TD valign="top">
	<FONT size="2">Unless the Board extends the Plan&#146;s term,
	the Administrator may not grant Awards after May&nbsp;8, 2008.
	The Plan will then terminate but will continue to govern
	unexercised and unexpired Awards.
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">B-10
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center"><FONT size="2"><B>APPENDIX B</B>
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="45%">&nbsp;</TD>
        <TD width="10%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2"><B>PROXY</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
<B>PROXY</B></FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2"><B>COSTAR GROUP, INC.</B>
</FONT>

<P align="center"><FONT size="2"><B>Annual Meeting of Stockholders &#150; June&nbsp;18, 2002</B>
</FONT>

<P><FONT size="2">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned stockholder of CoStar Group, Inc., a Delaware corporation
(the &#147;Company&#148;), hereby acknowledges receipt of the Notice of 2002 Annual
Meeting of Stockholders and Proxy Statement, each dated May&nbsp;1, 2002, and the
2001 Annual Report, hereby revokes any proxy or proxies previously given and
hereby appoints Michael R. Klein, Andrew C. Florance and Frank A. Carchedi, or
any of them, with full power to each of substitution on behalf and in the name
of the undersigned, as the proxies and attorneys-in-fact to vote and otherwise
represent all of the shares registered in the name of the undersigned at the
2002 Annual Meeting of Stockholders of the Company (the &#147;Annual Meeting&#148;) to be
held at 2 Bethesda Metro Center, Bethesda, Maryland 20814, at 11:00&nbsp;a.m. local
time on Tuesday, June&nbsp;18, 2002, and any adjournment or postponement thereof,
with the same effect as if the undersigned were present and voting such shares,
on the matters and in the manner set forth on the reverse side of this Proxy
card.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THIS PROXY, WHEN PROPERLY EXECUTED AND TIMELY DELIVERED, WILL BE VOTED IN
THE MANNER DIRECTED HEREIN BY THE UNDERSIGNED STOCKHOLDER. UNLESS CONTRARY
DIRECTIONS ARE GIVEN, THIS PROXY WILL BE VOTED &#147;FOR&#148; THE ELECTION OF THE
NOMINEES LISTED IN THE ACCOMPANYING PROXY STATEMENT, &#147;FOR&#148; RATIFYING THE
APPOINTMENT OF THE COMPANY&#146;S INDEPENDENT PUBLIC AUDITORS FOR 2002, &#147;FOR&#148;
APPROVING THE AMENDMENT TO THE COMPANY&#146;S 1998 STOCK INCENTIVE PLAN, AND IN
ACCORDANCE WITH THE DISCRETION OF THE PROXIES AS TO OTHER MATTERS.</B>
</FONT>
<P align="center"><FONT size="2">(Continued and to be signed and dated on the reverse side.)
</FONT>

<P align="center"><FONT size="2">&nbsp;</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>



<P align="center"><FONT size="2"><B>Please mark, sign, date and return this card promptly<BR>
using the enclosed return envelope.</B>
</FONT>

<P align="center"><FONT size="2"><B>Annual Meeting of Stockholders<BR>
COSTAR GROUP, INC.</B>
</FONT>

<P align="center"><FONT size="2"><B>June&nbsp;18, 2002</B>
</FONT>

<P align="center"><FONT size="1"><font face=wingdings>&#226;</font>
Please Detach and Mail in the Envelope Provided
<font face=wingdings>&#226;</FONT>
</FONT>

<P><FONT size="2">/X/ Please mark your<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;votes as in this example.
</FONT>
<P align="center"><FONT size="2"><B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE &#147;FOR&#148;<BR>
EACH OF THE PROPOSALS.</B>
</FONT>

<P align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR><TD nowrap valign="top"><FONT size="2">
(1)&nbsp; Proposal to elect the following persons as directors of the Company.
<BR>&nbsp;
<BR>&nbsp;
<BR>
FOR ALL &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WITHHOLD ALL<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /</FONT></TD>
<TD valign="top"><FONT size="2"><B>Nominees</B>:</FONT></TD>
<TD><FONT size="2">Michael R. Klein<BR>
Andrew C. Florance<BR>
David Bonderman<BR>
Warren H. Haber<BR>
Josiah O. Low III<BR>
Christopher J. Nassetta</FONT></TD></TR>
</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="56%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">FOR ALL (EXCEPT NOMINEE(S) WRITTEN BELOW)</FONT><BR>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">FOR
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">AGAINST
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">ABSTAIN
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top" nowrap><FONT size="2">(2)&nbsp; Proposal to ratify the appointment of Ernst &#038; Young LLP<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
as the Company&#146;s independent public auditors for 2002.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/
</FONT></TD>
        <TD valign="top"><FONT size="2">/</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/</FONT></TD>
        <TD valign="top"><FONT size="2">/</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD width="56%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">(3)&nbsp; Proposal to approve the amendment to the Company&#146;s 1998
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Stock Incentive Plan</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/
</FONT></TD>
        <TD valign="top"><FONT size="2">/</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/</FONT></TD>
        <TD valign="top"><FONT size="2">/</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD width="56%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top" colspan="13"><FONT size="2">(4)&nbsp; To vote or otherwise represent the shares on any other
business which may properly come before the meeting<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
or any adjournment or postponement thereof, according
to their discretion and in their discretion.</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><FONT size="2">The shares represented by this proxy will be voted in accordance with the
specification made. If no specification is made, the shares represented by
this proxy will be voted <B>FOR </B>each of the above persons and proposals, and for
or against such other matters as may properly come before the meeting as the
proxy holders in their discretion deem advisable.
</FONT>
<P><FONT size="2"><U>I plan to attend the meeting: Yes </U>&#95;&#95;&#95;&#95;&#95;&#95;<U>No </U>&#95;&#95;&#95;&#95;&#95;&#95;
</FONT>
<P><FONT size="2"><B>PLEASE PROMPTLY COMPLETE, DATE, SIGN AND MAIL THIS PROXY IN THE ENCLOSED
POSTAGE-PAID ENVELOPE. IF YOU RECEIVE MORE THAN ONE PROXY CARD, PLEASE
COMPLETE, SIGN, DATE AND RETURN EACH CARD.</B>
</FONT>
<P><FONT size="2">Signature(s) &#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95; Dated:&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95; , 2002
<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title if appropriate
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="6%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="91%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2"><B>NOTE:</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Sign exactly as your name(s) appears on the stock certificate. A corporation should sign in its full
corporate name by a duly authorized officer, with the office held designated. Executors, administrators,
trustees and guardians should sign in their official capacity giving their full title as such. If stock is
registered in more than one name, each person should sign. If a partnership or limited liability company,
please sign in the partnership or limited liability company&#146;s
name by an authorized person(s).</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2">&nbsp;</FONT>




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!.S\_
`
end

</TEXT>
</DOCUMENT>
</SUBMISSION>
