-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 MeuX26Kty98Ikb7/sT4/VphssUMHLI5V9+6qwQV48uE3zt2qrf/WrEjbF99CEYhe
 E1YCeMEWISasg7EUHesiFg==

<SEC-DOCUMENT>0000950152-08-008520.txt : 20081031
<SEC-HEADER>0000950152-08-008520.hdr.sgml : 20081031
<ACCEPTANCE-DATETIME>20081031160610
ACCESSION NUMBER:		0000950152-08-008520
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20081030
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20081031
DATE AS OF CHANGE:		20081031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSCAT INC
		CENTRAL INDEX KEY:			0000099302
		STANDARD INDUSTRIAL CLASSIFICATION:	INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]
		IRS NUMBER:				160874418
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0327

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-03905
		FILM NUMBER:		081154662

	BUSINESS ADDRESS:	
		STREET 1:		35 VANTAGE POINT DRIVE
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14624
		BUSINESS PHONE:		5853527777

	MAIL ADDRESS:	
		STREET 1:		35 VANTAGE POINT DRIVE
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14624

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRANSMATION INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>l34331ae8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Date of Report (Date of earliest event reported)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>October&nbsp;30, 2008</B></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Transcat, Inc.<BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>Ohio</B></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>000-03905</B></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>16-0874418</B></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction <BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="65%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>35 Vantage Point Drive, Rochester, New York</B></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>14624</B></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Registrant&#146;s telephone number, including area code
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>585-352-7777</B></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 30pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 0pt">(Former name or former address, if changed since last report)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">








<!--TOC-->
<!--/TOC-->




<!-- link1 "Item&nbsp;2.02 Results of Operations and Financial Condition" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2.02 Results of Operations and Financial Condition.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October&nbsp;30, 2008, Transcat, Inc. issued a press release regarding its financial results
for its fiscal year 2009 second quarter and six months ended September&nbsp;27, 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The press release is attached as Exhibit&nbsp;99.1 to this Form 8-K.
</DIV>
<!-- link1 "Item&nbsp;9.01 Financial Statements and Exhibits" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<I>Exhibits</I>.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="83%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD style="border-bottom: 1px solid #000000" nowrap align="center">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000" nowrap align="center">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transcat, Inc. Press Release dated October&nbsp;30, 2008</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<!-- link1 "SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SIGNATURES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>TRANSCAT, INC.</B><BR><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Dated:  October 31, 2008&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ John J. Zimmer
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">John J. Zimmer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" nowrap>Vice President of Finance and Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>l34331aexv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B></DIV>



<DIV align="left" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 0px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><IMG src="l34331al3433102.gif" alt="(TRANSCAT LOGO)"></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 8pt"><DIV style="width: 100%; border-bottom: 3px double #000000; font-size: 1px">&nbsp;</DIV></DIV>
<DIV align="left" style="font-size: 14pt; margin-top: 12pt"><B>Transcat, Inc. </B>35 Vantage Point Drive <B>&#149;</B> Rochester <B>&#149;</B> NY <B>&#149;</B> 14624 <B>&#149;</B> Phone: (585)&nbsp;352-7777</DIV>

<DIV align="left" style="font-size: 16pt; margin-top: 6pt"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter
2009</B></DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Net revenue of $18.6&nbsp;million in fiscal 2009 second quarter includes $1.1&nbsp;million from
recent acquisition</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Service revenue negatively impacted by Hurricane Ike</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Earnings per diluted share double to $0.06 for the fiscal 2009 second quarter</I></B></TD>
</TR>

</TABLE></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ROCHESTER, NY, October&nbsp;30, 2008 &#150; Transcat, Inc. (Nasdaq: TRNS), a leading global distributor of
professional grade test and measurement instruments and accredited provider of calibration, 3-D
metrology and repair services, today reported financial results for its second quarter of fiscal
2009 which ended September&nbsp;27, 2008. Our reported results include the results of Westcon, Inc., a
privately-held test and measurement instrument distributor and calibration laboratory located in
Portland, Oregon, which was acquired on August&nbsp;14, 2008.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net revenue for the second quarter of fiscal 2009 was $18.6&nbsp;million, an 11.9% increase compared
with net revenue of $16.6&nbsp;million in the second quarter of fiscal 2008. Westcon contributed $1.1
million to total net revenue in the second quarter of fiscal 2009. Organic net revenue increased
5.4%, or $0.9&nbsp;million, primarily as a result of the growth in Product segment sales.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net sales of the Company&#146;s Distribution Products (Product segment), which represented 70% of net
revenue in the second quarter of fiscal 2009, were $13.0&nbsp;million, a 15.5% increase compared with
net sales of $11.2&nbsp;million in the same period the prior fiscal year. Growth in sales to the
Company&#146;s core customer base, resellers and international customers and $0.9&nbsp;million related to
Westcon was partially offset by lower sales to Canadian customers. Organic Product segment sales
were $12.1&nbsp;million, a 7.6% increase over the second quarter of fiscal 2008.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Calibration Services (Service segment) revenue was $5.7&nbsp;million in the second quarter of fiscal
2009, a 4.6% increase compared with revenue of $5.4&nbsp;million in
the second quarter of fiscal 2008.
Westcon contributed $0.2&nbsp;million in Service segment revenue in the second quarter of fiscal 2009.
Organic Service segment revenue, which was negatively impacted by Hurricane Ike, was relatively
flat compared with the same period the prior fiscal year.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net income was $0.4&nbsp;million, or $0.06 per diluted share, in the second quarter of fiscal 2009
compared with $0.2&nbsp;million, or $0.03 per diluted share, in the same period the prior fiscal year.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Charles P. Hadeed, President, CEO and COO of Transcat, commented, &#147;As with many companies, we have
experienced the effects of the current economic climate and credit conditions. Our organic revenue
growth rate, especially in our Service segment, did not meet our expectations. We believe,
however, that for some of the markets we serve, such as the energy and pharmaceutical sectors,
requirements for our products and services remained relatively stable. Through the implementation
of effective cost controls, timely financial decisions, prudent investments in growth strategies
and leveraging of operational efficiencies, we have continued to improve our bottom line.&#148;</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->- MORE -<!-- /Folio --></DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 2</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><U><B>Second Quarter Fiscal 2009 Review</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gross profit was $4.6&nbsp;million, or 24.6% of revenue, in the second quarter of fiscal 2009 compared
with $4.2&nbsp;million, or 25.5% of revenue, in the same period the prior year. The lower gross profit
percentage was primarily due to the differences related to the mix of products and services,
suppliers and market channels.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Selling, marketing and warehouse expenses increased to $2.1&nbsp;million in the second quarter of fiscal
2009 compared with $2.0&nbsp;million in the same period the prior fiscal year, but were down from $2.6
million in the trailing first quarter of fiscal 2009. Administrative expenses were $1.7&nbsp;million
for the second quarter of fiscal 2009, which included $0.1&nbsp;million in expenses for Westcon,
compared with $1.6&nbsp;million for the second quarter of fiscal 2008 and $1.7&nbsp;million in the trailing
first quarter of fiscal 2009. Reduced expenses related to variable and stock-based compensation
had a positive impact to both selling and administrative expenses compared with the trailing first
quarter. Operating income for the second quarter of fiscal 2009 was $0.7&nbsp;million, or 4.0% of net
revenue, compared with $0.6&nbsp;million, or 3.6% of net revenue, in the second quarter of fiscal 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the second quarter of fiscal 2009, other net expense decreased 86.6% to $0.03&nbsp;million compared
with $0.2&nbsp;million in the second quarter of fiscal 2008. The decrease in other expense was due to
reduced foreign currency losses. The Company has a program in place to hedge the majority of its
risk to fluctuations in the value of the U.S. dollar relative to the Canadian dollar.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The effective tax rate in the second quarter of fiscal 2009 was 39.2%. For fiscal 2009, the
effective tax rate is expected to be in the 38% to 40% range.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><B>Product and Service Segment Review</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Transcat is uniquely positioned to serve the process, life science, utility and manufacturing
industries by its ability to bundle a wide variety of premium test and measurement instruments with
quality calibration, 3-D metrology and repair services for its customers. Transcat&#146;s calibration
capabilities and product delivery systems enable it to rapidly respond to its customers&#146;
requirements for quick turn-around times for instrument purchases and calibration, 3-D metrology
and repair services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><I>Product Segment</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Through its Product segment, Transcat markets and distributes national and proprietary brand
instruments to over 13,500 global customers. The Company&#146;s Master Catalog offers access to more
than 25,000 test and measurement instruments. The Product segment primarily uses direct marketing
and the Company&#146;s website, which has online ordering capabilities, to market to end-users, as well
as to resellers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Product segment net sales increased 15.5% to $13.0&nbsp;million in the second quarter of fiscal 2009
compared with $11.2&nbsp;million in the same period the prior fiscal year. Organic Product segment
sales growth was 7.6%. Average Product segment sales per day, including Westcon, were $206
thousand in the second quarter of fiscal 2009 compared with $178 thousand in the same period the
prior fiscal year. Sales of the Company&#146;s products over its website increased 12.1% to $718
thousand in the second quarter of fiscal 2009 compared with the same period the prior fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gross margin for the Product segment is a function of a number of factors including market channel
mix, product mix and discounts to customers. Product segment gross profit in the second quarter of
fiscal 2009 was $3.4&nbsp;million, or 26.1% of net sales, compared with $3.1&nbsp;million, or 27.9% of net
sales, in the
second quarter of fiscal 2008. The reduction in gross margin was attributable to higher
international and reseller sales, which have lower margin potential, combined with lower sales to
Canadian customers which typically have higher margins.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->- MORE -<!-- /Folio -->
</DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 3</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Product segment operating income was $1.1&nbsp;million, or 8.2% of net product sales, in the second
quarter of fiscal 2009 compared with $0.9&nbsp;million, or 8.1% of net product sales, in the same period
of the prior fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Hadeed noted, &#147;We are reasonably pleased with our Product segment sales growth and resulting
margins, with increases in all of our markets except Canada, where volatile fluctuations in
exchange rates have hampered our growth. Our acquisition of Westcon should allow us to expand our
ability to support and grow our customer base on the West coast and further penetrate the wind
energy industry.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><I>Service Segment</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Transcat&#146;s customers purchase calibration services for the purpose of measurably reducing their
risk of product or process failures that can be caused by inaccurate measurements. Transcat
annually performs more than 140,000 calibrations at its 12 Calibration Centers of Excellence,
located throughout the United States, Canada and Puerto Rico, or at its customers&#146; locations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Service segment revenue was $5.7&nbsp;million in the second quarter of fiscal 2009, a 4.6% increase
compared with $5.4&nbsp;million in the same period the prior fiscal year. The timing of calibration
orders and segment expenses can vary on a quarter-to-quarter basis based on the nature of a
customers&#146; business and calibration requirements. In general, a trailing twelve month trend
provides a better indication of the progress of this segment. Service segment revenue for the
trailing twelve months that ended September&nbsp;27, 2008 were $23.4&nbsp;million, up 7.7% when compared with
$21.8&nbsp;million for the trailing twelve month period that ended September&nbsp;29, 2007.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Hurricane Ike negatively impacted Service segment revenue in the second quarter of fiscal 2009. In
addition to the forced two week shutdown of the Company&#146;s largest calibration laboratory and repair
center in Houston during the storm and its aftermath, many of the Company&#146;s customers in that area
postponed or cancelled expected calibration service requests. Additionally, repair service
requests, which can be unpredictable quarter-to-quarter, were down 12.3% year-over-year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Within the calibration industry, there is a broad array of measurement disciplines making it costly
and inefficient for any one provider to invest the needed capital for facilities, equipment and
uniquely trained personnel necessary to perform all calibrations in-house. The Company&#146;s strategy
has been to focus its investments in the core electrical, temperature, pressure and dimensional
disciplines, and it has historically subcontracted 15% to 20% of its customers&#146; equipment to
outside vendors. In the second quarters of both fiscal 2009 and 2008, approximately 81% of Service
segment revenue was generated by the Company&#146;s staff of technicians while 19% was subcontracted to
outside vendors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Service segment gross profit in the second quarter of fiscal 2009 was $1.2&nbsp;million, or 21.0% of
revenue, compared with $1.1&nbsp;million, or 20.6% of revenue, in the same period the prior fiscal year.
Tight cost control measures were implemented in the quarter to compensate for the lower than
expected revenue growth, resulting in relatively flat gross profit. Service segment operating loss
was $0.3&nbsp;million in the second quarters of fiscal 2009 and 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Hadeed continued, &#147;Our Service segment growth was significantly challenged by a number of
factors, including economic decisions by our customers to postpone or curtail service needs and
Hurricane Ike, which made landfall in Houston, the location of our largest calibration laboratory
and repair center.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><B>Six-Month Review</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Revenue for the first six months of fiscal 2009 was $36.5&nbsp;million, up 11.1% compared with revenue
of $32.8&nbsp;million in the first six months of fiscal 2008. Product segment net sales were $25.3
million in the
first half of fiscal 2009, up 14.1% compared with $22.1&nbsp;million in the same period the prior fiscal
year. In the first six months of fiscal 2009, Organic Product segment net sales were $24.4
million, a 10.1% increase compared with net sales of $22.1&nbsp;million in the first six months of
fiscal 2008.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->- MORE -<!-- /Folio -->
</DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 4</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Service segment revenue was $11.2&nbsp;million in the first half of fiscal 2009, up 5% compared with revenue of $10.7
million in the first six months of fiscal 2008. The tables at the end of the
release reflect segment sales trends for the six-month period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Product sales generated over the Company&#146;s website were $1.6&nbsp;million in the first six months of
fiscal 2009, up 34.4% compared with website revenue of $1.2&nbsp;million in the first half of fiscal
2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gross margin was 25.0% for the first six months of fiscal 2009 compared with 25.8% in the same
period of the prior fiscal year. Product segment gross margin was 26.7% and 28.0% for the first
six months of fiscal 2009 and 2008, respectively. The year-over-year decrease was a result of
product mix and higher net sales through lower margin channels. Service segment gross margin was
21.0% in the first half of fiscal 2009 compared with 21.4% in the same period the prior fiscal
year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Operating expenses were $8.0&nbsp;million in the first six months of fiscal 2009 compared with $7.4
million in the same period the prior fiscal year. Year-over-year strategic investments in sales
and marketing for the Service segment were partially offset by cost control measures. Operating
margin in the first six months of fiscal 2009 was 3.1% compared with 3.2% in the first six months
of fiscal 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net income was $0.7&nbsp;million, or $0.09 per diluted share, for the first six months of fiscal 2009
compared with $0.4&nbsp;million, or $0.06 per diluted share, for the same period the prior fiscal year
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><B>Balance Sheet and Cash Management</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cash generated from operations was $1.0&nbsp;million in the first six months of fiscal 2009 compared
with $2.2&nbsp;million in the same period the prior year. The reduced cash flow from operations
primarily reflects a greater investment in inventory in the fiscal 2009 period. Long-term debt
increased to $4.3&nbsp;million at September&nbsp;27, 2008, up from $0.3&nbsp;million at March&nbsp;29, 2008 as a result
of the acquisition of Westcon, Inc. in August&nbsp;2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Capital expenditures, excluding the acquisition of Westcon, were $0.6&nbsp;million in the first six
months of fiscal 2009 compared with $1.0&nbsp;million, in the same period the prior fiscal year and were
primarily used for laboratory equipment to expand capacity and capabilities. Transcat expects
capital spending for fiscal 2009 to be in the range of $2.0 to $2.3&nbsp;million.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><B>Outlook</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Hadeed concluded, &#147;As we enter what are typically our strongest sales quarters, we anticipate
accelerated growth rates in both of our business segments. Our growth objectives are dependent on
new product launches from our strategic partners, our direct marketing efforts including our annual
Master Catalog, and investments in our sales personnel. However, we remain cautious due to the
effects the economy and credit markets may have on our customers and their purchase decisions.
Both operating and pre-tax earnings should exceed prior fiscal year comparisons, with net income
comparisons negatively impacted by a $0.8&nbsp;million benefit from the reversal of a deferred tax asset
valuation allowance in last fiscal year&#146;s third quarter. As we integrate Westcon into our business
systems and processes, we believe it will expand our revenue growth opportunities during the
remainder of fiscal 2009.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><B>ABOUT TRANSCAT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Transcat, Inc. is a leading global distributor of professional grade test and measurement
instruments and accredited provider of calibration, 3-D metrology and repair services primarily for
the life science, manufacturing, utility and process industries. Through its distribution products
segment, Transcat markets and distributes national and proprietary brand instruments to
approximately 13,500 global customers. The Company&#146;s Master Catalog offers access to more than
25,000 test and measurement
instruments. Transcat delivers precise, reliable, fast calibration, 3-D metrology and repair
services across the United States, Canada and Puerto Rico through its 12 strategically located
Centers of Excellence. Transcat&#146;s calibration laboratories are all ISO-9001:2000 certified and the
scope of
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->- MORE -<!-- /Folio -->
</DIV>

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


<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 5</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">accreditation for ISO/IEC 17025 is believed to be the broadest in the industry.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Transcat&#146;s growth strategy is to expand both its distribution products and calibration services in
markets that value product breadth and availability and rely on accredited calibration services to
maintain the integrity of their processes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">More information about Transcat can be found on its website at: <U>www.transcat.com</U></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Safe Harbor Statement</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt">This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as &#147;expects,&#148; &#147;estimates,&#148; &#147;projects,&#148; &#147;anticipates,&#148;
&#147;believes,&#148; &#147;could,&#148; and other similar words. All statements addressing operating performance,
events, or developments that Transcat, Inc. expects or anticipates will occur in the future,
including but not limited to statements relating to anticipated revenue, profit margins, sales
operations, its strategy to build its sales representative channel, customer preferences and
changes in market conditions in the industries in which Transcat operates are forward-looking
statements. Because they are forward-looking, they should be evaluated in light of important risk
factors and uncertainties. These risk factors and uncertainties are more fully described in
Transcat&#146;s Annual and Quarterly Reports filed with the Securities and Exchange Commission,
including under the heading entitled &#147;Risk Factors.&#148; Should one or more of these risks or
uncertainties materialize, or should any of the Company&#146;s underlying assumptions prove incorrect,
actual results may vary materially from those currently anticipated. In addition, undue reliance
should not be placed on the Company&#146;s forward-looking statements. Except as required by law, the
Company disclaims any obligation to update or publicly announce any revisions to any of the
forward-looking statements contained in this press release.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>For more information contact:</B><BR>
John Zimmer, Chief Financial Officer<BR>
Phone: (585)&nbsp;352-7777 Email: <U>jzimmer@transcat.com</U><BR>
- -OR-<BR>
Tammy Poblete, Kei Advisors LLC<BR>
Phone: (716)&nbsp;843-3853 Email: <U>tpoblete@keiadvisors.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">FINANCIAL TABLES FOLLOW.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 6</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Transcat, Inc.<BR>
Consolidated Statements of Operations</B><BR>
(Amounts in thousands, except per share data)<BR>
(Unaudited)
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Second Quarter Ended</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Six Months Ended</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 27,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 29,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 27,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 29,</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2007</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2007</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Product Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,954</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,219</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,265</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">22,146</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Service Revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,656</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,406</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,198</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,669</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net Revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,625</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36,463</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,815</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of Products Sold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,568</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,089</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,517</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,955</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of Services Sold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,468</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,290</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,847</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,387</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total Cost of Products and Services Sold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,036</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,379</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,364</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24,342</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,574</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,246</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,099</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,473</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Gross margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><I>24.6</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><I>25.5</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><I>25.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><I>25.8</I></TD>
    <TD nowrap><I>%</I></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling, Marketing and Warehouse Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,122</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,018</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,717</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,323</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Administrative Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,713</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,634</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,255</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,107</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total Operating Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,835</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,652</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,972</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,430</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating Income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">739</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">594</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,127</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,043</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Operating margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><I>4.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><I>3.6</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><I>3.1</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><I>3.2</I></TD>
    <TD nowrap><I>%</I></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest Expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Expense, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">209</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">290</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total Other Expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">238</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">353</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income Before Income Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">707</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">356</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,088</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">690</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Provision for Income Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">277</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">162</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">430</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">258</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net Income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">430</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">194</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">658</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">432</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Basic Earnings Per Share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.03</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.06</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Average Shares Outstanding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,282</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,127</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,239</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,099</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Diluted Earnings Per Share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.03</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.06</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Average Shares Outstanding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,511</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,577</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,453</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,474</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Note: Certain prior period balances have been reclassified to conform with the current period
presentation.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->- MORE -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 7</B></TD>
</TR>
<!-- End Table Body -->
</TABLE></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Transcat, Inc.<BR>
Consolidated Balance Sheets</B><BR>
(Amounts in thousands, except share and per share data)</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" colspan="2">(Unaudited)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 27,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>March 29,</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ASSETS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current Assets:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD align="right">184</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD align="right">208</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accounts Receivable, less allowance for doubtful accounts of $70
and $56 as of September&nbsp;27, 2008 and March&nbsp;29, 2008, respectively</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,105</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,346</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other Receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">938</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">370</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Inventory, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,844</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,442</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Prepaid Expenses and Other Current Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,227</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">773</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Deferred Tax Asset</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">462</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">248</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total Current Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,760</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,387</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Property and Equipment, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,563</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,211</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,460</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,967</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Intangible Asset</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,191</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#150;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred Tax Asset</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,190</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,435</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">367</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">344</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; font-weight: bold">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD align="right">31,531</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD align="right">24,344</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>LIABILITIES AND SHAREHOLDERS&#146; EQUITY</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current Liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accounts Payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD align="right">6,064</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD align="right">5,947</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accrued Compensation and Other Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,921</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,489</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Income Taxes Payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">296</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total Current Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,281</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,498</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Long-Term Debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,347</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">302</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">503</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">427</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-weight: bold">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,131</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,227</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shareholders&#146; Equity:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Common Stock, par value $0.50 per share, 30,000,000 shares authorized;
7,633,694 and 7,446,223 shares issued as of September&nbsp;27, 2008 and
March&nbsp;29, 2008, respectively; 7,357,912 and 7,170,441 shares
outstanding as of September&nbsp;27, 2008 and March&nbsp;29, 2008, respectively</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,817</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,723</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Capital in Excess of Par Value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,183</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,649</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accumulated Other Comprehensive Income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">433</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">436</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Retained Earnings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,955</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,297</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Less: Treasury Stock, at cost, 275,782 shares as of
September&nbsp;27, 2008 and March&nbsp;29, 2008</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap>&nbsp;</TD>
    <TD align="right">(988</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap>&nbsp;</TD>
    <TD align="right">(988</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; font-weight: bold">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total Shareholders&#146; Equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,117</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-weight: bold">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total Liabilities and Shareholders&#146; Equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD align="right">31,531</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD align="right">24,344</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE></DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->- MORE -<!-- /Folio --></DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 8</B></TD>
</TR>
<!-- End Table Body -->
</TABLE></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Transcat, Inc.<BR>
Consolidated Statements of Cash Flows</B><BR>
(Amounts in thousands)</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">(unaudited)</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Six Months Ended</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 27,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 29,</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2007</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash Flows from Operating Activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net Income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">658</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">432</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Adjustments to Reconcile Net Income to Net Cash Provided by
Operating Activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Deferred Income Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(85</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Depreciation and Amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">772</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">788</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Provision for (Recovery of) Accounts Receivable and
Inventory Reserves</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(63</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Stock-Based Compensation Expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">355</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">428</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Changes in Assets and Liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Accounts Receivable and Other Receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">654</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">892</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Inventory</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(40</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">749</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Prepaid Expenses and Other Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(710</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(602</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Accounts Payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(269</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">104</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Accrued Compensation and Other Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(601</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(595</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Income Taxes Payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">174</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Net Cash Provided by Operating Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,222</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash Flows from Investing Activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Purchase of Property and Equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(587</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(999</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Purchase of Westcon, Inc., net of cash acquired</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,625</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#150;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Net Cash Used in Investing Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,212</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(999</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash Flows from Financing Activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Chase Revolving Line of Credit, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,026</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,567</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Issuance of Common Stock</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">119</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">160</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Excess Tax Benefits Related to Stock-Based Compensation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#150;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Net Cash Provided by (Used in) Financing Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,186</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,407</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Effect of Exchange Rate Changes on Cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net Decrease in Cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(24</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(169</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash at Beginning of Period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">208</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">357</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash at End of Period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">184</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">188</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE></DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->- MORE -<!-- /Folio --></DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 9</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Transcat Inc.<BR>
Fiscal 2009 Second Quarter<BR>
Additional Information</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Business Segment Data</B><BR>
<I>(Dollars in thousands)</I>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><I>(Unaudited)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><I>(Unaudited)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Quarter ended</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Quarter ended</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>$</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>%</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>September 27, 2008</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>September 29, 2007</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B> Change</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B> Change</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Products</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,954</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11,219</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,735</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">15.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,386</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,130</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">256</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>26.1</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>27.9</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,065</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">913</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">152</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">16.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>8.2</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>8.1</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Services</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,656</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,406</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,188</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,116</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>21.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>20.6</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating loss</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(326</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(319</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2.2</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>(5.8</I></TD>
    <TD nowrap><I>%)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>(5.9</I></TD>
    <TD nowrap><I>%)</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Consolidated</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">18,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">16,625</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,985</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">11.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,574</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,246</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">328</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>24.6</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>25.5</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">739</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">594</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">145</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">24.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>4.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>3.6</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->- MORE -<!-- /Folio -->
</DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 10</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Transcat Inc.<BR>
Fiscal 2009 Six Months<BR>
Additional Information</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Business Segment Data</B><BR>
<I>(Dollars in thousands)</I>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><I>(Unaudited)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><I>(Unaudited)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Six months ended</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Six months ended</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>$</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>%</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>September 27, 2008</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>September 29, 2007</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B> Change</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B> Change</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Products</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,265</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">22,146</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3,119</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">14.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,748</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,191</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">557</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">9.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>26.7</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>28.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,013</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,611</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">402</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">25.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>8.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>7.3</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Services</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11,198</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,669</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">529</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,351</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,282</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>21.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>21.4</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating loss</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>(886</I></TD>
    <TD nowrap><I>)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>(568</I></TD>
    <TD nowrap><I>)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(318</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(56.0</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>(7.9</I></TD>
    <TD nowrap><I>%)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>(5.3</I></TD>
    <TD nowrap><I>%)</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Consolidated</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">36,463</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,815</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3,648</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">11.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,099</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,473</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">626</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>25.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>25.8</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,127</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,043</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>3.1</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>3.2</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->- MORE -<!-- /Folio -->
</DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 11</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Transcat Inc.<BR>
Additional Information</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>PRODUCTS SEGMENT SALES BY MARKET CHANNEL</B><BR>
<I>(Amounts in thousands)<BR>
(Unaudited)</I>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="23" style="border-bottom: 1px solid #000000"><B>FY 2009</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>YTD Total</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Direct</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,074</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,051</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">20,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">79.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Reseller</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,039</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,699</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,738</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">18.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">198</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">204</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">402</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Product Sales</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,311</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,954</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,265</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="23" style="border-bottom: 1px solid #000000"><B>FY 2008</B></TD>

</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>FY 2008</B></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% of</B></TD>

</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total</B></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total</B></TD>

</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Direct</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">9,170</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">9,520</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,465</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">40,292          </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">84.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Reseller</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,587</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,520</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,686</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,731</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,524               </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">13.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">170</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">179</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">182</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">192</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">723</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Product Sales</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,927</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11,219</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">13,005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,388</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">47,539</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>PRODUCT SALES PER BUSINESS DAY</B><BR>
<I>(Dollars in thousands)<BR>
(Unaudited)</I>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="19" style="border-bottom: 1px solid #000000"><B>FY 2009</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>FY 2009</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>YTD Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Number of business days</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">127</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total product sales</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,311</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,954</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,265</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Sales per day</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">192</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">206</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">199</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="19" style="border-bottom: 1px solid #000000"><B>FY 2008</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>FY 2008</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Number of business days</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">251</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total product sales</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,927</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11,219</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">13,005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,388</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">47,539</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Sales per day</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">171</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">178</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">213</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">197</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">189</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->- MORE -<!-- /Folio -->
</DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%"></TD>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><FONT style="white-space: nowrap"><B>Transcat Reports 24.4% Increase in Operating Income on 11.9% Growth in Revenue for Second Quarter 2009</B></FONT>
<B>October&nbsp;30, 2008</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 12</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>PRODUCTS SEGMENT SALES BY REGION</B><BR>
<I>(Amounts in thousands)<BR>
(Unaudited)</I>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="23" style="border-bottom: 1px solid #000000"><B>FY 2009</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>YTD Total</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>United States</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">9,484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,066</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">19,550</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">77.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Canada</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">784</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">999</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,783</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Other International</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,845</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,685</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,530</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">14.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">198</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">204</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">402</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,311</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,954</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,265</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="23" style="border-bottom: 1px solid #000000"><B>FY 2008</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>FY 2008</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>United States</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">8,443</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">8,630</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,093</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">9,803</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">36,969</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">77.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Canada</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,026</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">888</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,176</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">966</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,056</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Other International</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,288</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,522</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,554</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,427</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5791</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">12.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">170</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">179</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">182</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">192</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">723</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,927</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11,219</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">13,005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,388</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">47,539</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>SERVICE SEGMENT REVENUE BY TYPE</B><BR>
<I>(Amounts in thousands)<BR>
(Unaudited)</I>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="23" style="border-bottom: 1px solid #000000"><B>FY 2009</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>YTD Total</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Depot/On-site</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,478</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,441</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">8,919</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">79.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Outsourced</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">911</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,065</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,976</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">17.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">153</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">150</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">303</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Service Revenue</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,542</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,656</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11,198</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="23" style="border-bottom: 1px solid #000000"><B>FY 2008</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>FY 2008</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Depot/On-site</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,170</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,266</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,284</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,516</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">18,236</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">79.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Outsourced</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">956</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">995</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,118</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,078</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">17.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">145</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">142</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">176</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Service Revenue</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,263</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,406</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,435</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">6,810</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">22,914</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->- END -<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>l34331al3433102.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 l34331al3433102.gif
M1TE&.#EADP)8`.8``+C&U-?DZO[^^1T9&9*CNLW;YHF9LY*-B39+CNGT]O7Z
M^Y:IQA$H>Q$I@FUG8Q`FA=K8UE1FDL7$PQ(IBD16COO[YO/S\J6TR/K]_<&[
MLU!,2V)XK'F*I_[^]EANI/O[^?K]^H>6P^/AWGB'N0\C>>OM[O/Y]2@Y=.'O
M\V1QES%$>FZ!G<?4X*NGI/[Z^KNWM'B4N,#-VN3M[20WB:6[TJ>LQ$%.>0\D
M@<?"NA(FB6R"JFR'M/[^\=#-Q_[[_14H;N;EX;"\RO#W^/[[]OCZ]H!Z=OK]
M]O?V];'`UOK[_)^:E0X?=9ZIMK>SK=;3T+*MJ/SV^7:0KAHF5J:BGNOIY^KR
M[]_G[J.ROQ<OA?[Z\?K]\=7?X]_=V1TP=^CFY/CZ\2,Q7&1@710KC(J%@5%>
M@`XB;5M758*/O$9>G-_IZ/#P[IF>MA<MCQ\Q:1<L@.?I\3LW-\_+U<K7TK[!
MS1$>6QLUC@\??____/W]_?W____]_/W__/_]_Q$HA0<%!O___R'Y!```````
M+`````"3`E@```?_@'^"@X2%A5`N24EX/GB.CY"1D8N.20I)&"`=%5^7DI^?
M>R"8(!AX=W<"?'^H>7F"`@*&@W<=>:9Z>HZQH)5"("X?1D(F((ZY>!B*/E!#
M`HXN>@(8&+H8?*Z[%28*O1B7`D-ZBP)[U'D"'WLF:5L`%R$C(P0T+%M5"D9:
M';IXKG]\?/C0PX</*@%W,.PYYL,%GV1'`K!`LF`#!008$:`)42^`$`50]`PY
M1="5M&0"I?'@`0+<(VK),'RH4(%E$A#FE)GJQ1./GH3=L@B(YF-E!P4)A"1Q
M\0R/L5E0HTJ=2K6JU:M8LVK=RK6KUZ]@PXHUM$#>&7EHTZI=F_:,V[=G_VK,
MX<"V+EL.>`D`0*$`1#A==R#E014U51YHT3!4J6%7G@X6BF*,<!L"KML101(0
M>38PULYD@1FY<%$A"`?+J,_$^?`!,:*;*&CHL-&ES)(E)$@L*?/C!)HS,4R8
M8/T(8"Z"!E$%SH3'!10?0E@0\*"B]I(;#W),$#.!09DR#!!$`)[@PY$/0SZ8
MBE6N>;0A<E+#K3PG"&7Y^//#!0""B#,B7U11D0<>K("$!4X)\,I8##;HX(,0
M1BCAA!1RA08)-_1Q`P,-]-%`AWV$*.*((C9PPXD/A-@``PST@08!/V!(XHPT
M]L$B`R1T@8`.%P0PW$(^/(3''G=,-1@K?_@D@/\",:CPP)-/CKCA$E=<P@0)
M/[#HQHTK,F!#<,:,)HV"CH`0F`"ZN##$"F5\Z.:;#;A1!@&CF#):,"4@H<,,
M#-S0(8C;B9&BGQ3TJ``11!9YC#^N&/1''J-``45T!$30Q8:Y-?"D=B&RV$`.
M-^3P`P4&L%`>:Y0(T$%3XP@1Q0];8HA=#CEPB",,.V39)8<>PNGKKRMNB>,/
M'.0#@A%?I&$`!1Z,L$,$A5KP09$55FOMM6(]T<*VVSI!50;<;DL%5$V$:^ZY
MZ#9!"!#G>@L5%>CV$)4%YT(@50DM%&&&!AK`P6\88[R@!H-H8+==BRK66&.4
M$TP0YX=H&-#%API7/`'_&QB+D8,=/]@`PQ;=C';**48.ALJ85D10!I11BI@#
M&W94F<0:=F2',1MB<"=H&1X$<(E`J'1P1QZBW+&'`*4LH@,)"HO!Q@T$$/'!
M(H@(`4`*7=C1,*T/9/A`H$Y/D`.6$03QRZI_F/*H*WD4!`L($46A0HP73]#'
MUMK9W<>F.6]'0AD(K%"`$(ZLUT$'(/B%P14S-%"WPPUPQ^&*4>Q0!A:].BX&
MB!77B/,$#S10;#4?",$!&4'(H7H!3%!0`Q'_8"O[[+1'-8`?N.,.!U4:Y(Z[
M!%#!X?OPQ!>_^R!4$.]`5$H4/P#SQ`,_2PE%%#_\``=8(!8%)&A]`X9=]WGB
M__CDE]_U^$^R>,.+79!@8OGPQ__]B3EHK-T-,YQA!1[.K/)'+%'YQT&6I(,?
M[(UEY6M`&9CPA2\PP0YNZ!"H;L0A.6V`+^G!`Y*2<0H,K*H2.Y#?B;I$``6,
M)FUIT`$6EM"WG'D(.W:X`>@T="(.V8$$'*B"%G@P-`W&CC!_2((5##"#&]QL
M<]QI6!+U5C\-,2""=5M"%SBPA46DPAQX0-H63F`K+(C/:SA2(*[:U`<2]"E%
M[Q.A"+NT(0XLPCE!L$$!%C`#,I!!!4&X``6VH+;:^?&/V+K=\(I`!*GTSG=/
M`,(L!&F]1N9N`$`8F""$YSLX`.$#LW"`]20@R4*$X?]Z0+AD(5[`2$?B;@#R
M`@L:'I`S[3@-9SF+I2QG24OMT"H'$?L4*VG)RUF"+DIN&M\/4A``J35$#X<+
M8",^T($A,*D+?:A?+T%7ABM\@0A,R-`!N02B![B!!@I8U1WT$*1'Z`$#O,!#
M$D)XRW;2"E,$.`(BH&`%-O$J17?#&ZT\M#<W;:=6.I`!$8QPBJ&]0B3G5$`!
M//"#&_3M0RUJ&(TH!B6[A>YK#$!##(3P@6<D00!$J((.0M4U$F2'5O:['ZZ6
M\#6&B<V=,(TIK4!'*P84:Q2NXH`06I`"*Z`@!2NP@@<NL`A`&O6H$2IE[EY@
MR.$=(`.SH*0I&SD`'-A+$&;_N%X&1&`(*DAUD.XJQ%?]`(<,9`"3@R#E5(D'
MU:\43&RA:QCD@$77#S7L0[@D0`1#5U>Z/A2BX_,.&6+0#7[<`:VS@(0NME"P
M)]4U!]6T1#;#-B*Y>H@$"`!3+H*T$#SP`9T*VL,Z)P>L!]BAA#Y(@@PVX(;K
MG+2=)[4;YZ)Y-Z<]X`?Z`P$/T%20<7X`*4%`0);$@!V(:@I*%,LGQ0(%5P9D
MQVXG0(()&S$$"Q"@"Q@#5:AR$**[=JIRX.G2AS;75[KNK:8<*`4&2N"!*ET!
M`2F`%@!$NH8^(O6^^/6*4G6G2*@<,G=/7>1:J9J!J_[A`,0[0"H)\8)&F@$'
MLR!>_Q@R`.%!J&&_:QU`6"UDTO"5B((@#C&([\:K%W%H0R).,9=BB04W/<E/
MN9&C`ISA`A]$!1)$4(`!5I:#!ZC8<3$C0A(>Z+0ERM5A+"*!!S3C$X(\XK.)
M$L!H'PLUJ>FXH3U^[DN[5B**WE*)#NO"`A10`54D1YU"0$(;?B!!L=GHC(Z=
M7#Z?!#;N=.UKW/T!$I(P$!=\@04V($'?GKNWNVD(HE&(0G@]5=Z^>LK';G1$
M%5)0`P74H+TJH($0+*`#)1PFOZ`.]54P[`<E%'(6_\5=@`TQU@$_LL!IE7"%
M"3&&1I;U"(7@`O&*`.M!U)IX`]!`&,)@AE;C+@SCZLI;N__6(;UU3F%WU53$
MW*"A9]<H;T>6JW-KM8$`F*(1-\[B.`"@@A--0)O7II*D'ABY;%O44WWX`1,(
M]Y/##"EM>\A%(D)H,1)$#00%.`'3OMRW'F.G5X]NYX<P1P(*L`!1_A`$'H2P
M`!5LJ4/VZ]7!,]?L+T\`"UC`VRX9L(+R1,,%,DC!<`&593QKDP&58ZEVO^9L
M:X](O)`&02.$<(85'.'27EA!"JH`A`C,X1FB3KK2#4%J5&K0$*GVPZH+H50-
MF/7J6,\ZU@WLA;&6]=2#B+KO!J`$+A2B!=>;0@8Z^0>E8D_K3VCU`)[P]*U<
MR.#.[97-)UIB`IQX[R.Z<SXE>F?_O_U@`TI)Q8UUFP4K!)J[+>,[E7Y[)3>T
M.-KP;IB?HLN41_'/"`G)=T/P$$)W'[D/2U@#%(Y``8>*@>/-SEC?]+8=-NR3
M0V)@P#`]\70%K.$$1F3#W?:)SUA&N[N0=RR@MK,B"@!A".)09PA(\#(_Y;/#
M7SLTY78@\Z[E;::F#__I-28ZQ3%)!>]8`14*,%@#1``%15VZ_)-.:C\@&]5.
M;:M8AV=UK?M_ZX2056.7`25`=8Y4!`LF"%%75AE0=Q!`/$IP=3T026I`!4ZP
M7T5@8%J!!M]!6B`B3;OT2Q*$1E^S(J&#'5T3,3\0>7SG>AQB-QNR(B@8(IL"
M*A]2!W0B_P"@IQP&10W*\`$6L`$,@#,K,ELST@`D4`.9D$TT>'.<<P-V("@4
M$``?U5FH``FQH`,(0R/G=@-KH`!(X`8D`#D.DT^X]SUN8#>O!SF34WA=\P,^
MD@5#X`)I-C%B$$'YA&V:9S#X1&>@@S[;T1UL\``G,`>LX1Q0@`0S@$\DDGU]
MN#<,,$;N(T.RY5R:5S]P=5RATR)(N"(FU6/$$C(NH`!7<`(+4$PFL`4Z@`!S
ML!/S]XJ@5G\#,`7XYSM31PA5EP']M14(-CQ-P%6#D`&FI`&S)@A*-6'2(P@2
MP%89T`-@-PC-,SQA4(Q9<2$X`G*RQ#*L)()P-7P]MC>;PRDO4O\&??!Z3;,W
M1%B.,_0A@A=-MT0Q#4`!,N`7K*`<]O8(5@-\W,&.G7,#2H@!3%AH"W-277`&
M"2`2'W!FCU`+6J@PIN6%*+`#3.,G6+`YAH9QYS,^@N(A]Y0BK'0#96``)J`%
M6>`#!4`!U[$B@V=9(:)-&P<ECR8C=W5;(R`MS?$!0K6%,V)1-&APX-4GK\0=
M=S,H>=-/D9<B.;,B_V13"H`!`H$',N!^*8`7*4`&%P`%]@:+6HE4]4=69E<(
M47>+@S!65K>+6K&,3I6`FE1)PW-KR$,\8Y`!&X:6OJ,$.(!KAG`$`["7`P`'
M<.``&8"7&[@$.")G>[,$[)@A//E2#7/_/B;"1B3P(EAF,8>&(^[#9=T4.MXX
M5PT@;YM1"(&Q!PNA``%``6247/WXCP')B#-R/F74!320!,X@"Z'A"*C0D!73
M`&O``N5V;NYCD87F-#F"!AZP`1$P`QV6F28B*"1@`S)P357@`>X31D(I(D?I
M6!MG(V[`'1N2(G;#`!%010WA`@FP8^BVDP*9?3?PDTQSD=_S(0?'DR12A)[8
M(3?P`RO@"3Y`!$1@`2Q0`P9@`$&P!2;@"+&SE0A:.UWI!V.`6`J8?P+F.V79
M%<DS/&9P5F,Y2$KU`EXP"'29.RV@BX3P@&E7=X7@!.`2HE=7@%NQ`2J0$3"*
M$5YD4H:6A]S5_P`Q&J,;`"."5C$Y,`,800%"2@$S\`-MTDJ:N36;PR+$I0()
MX%EK8S*QL`<)H`-E('PL4J,5XX_4L)I;:B)EI`);P$P*4ING(``Z8(2!]P#^
M1@,_<&X>PGQ>]@`S0`!I\!$E$`-HP`!BH#5[$X-BTP!=4`"4-XEFI*4'5'QY
M\SVY@2%]<C'C<S<-T`8LH!2(8`)!T`;?6"/RN5TD$`4A\*(YBA'(*2,T>'H-
M`*2CB@`&H`B.X!_.@0<*P`VZ-30)>JL*:DJH!)80RFK\)Z)=,58#L':"\`%L
M-58("(U:A:&$8#T:\`0L6@@6@`,X(`$]<*W1FA56L`4!L`7<&@#@&O\`)\D`
MN-&$$F4C,\`"W0JNW[JN5S"9"X,%!+"N58`"5L`"06``*C!P.=!L=L,&7<)*
ME`JEKJ`<Y0`"%_`#.&,CBOEL7`J0VL2:\PF?];,$.B`$1M`!/F2@J;`#.DDC
M2T``(7"E7R-H<Q5-W0$#0N`?/'`42*`"9`2)+[@W6!`#`(<`390I$CMX&.-C
M"+`!40`#4;`!:(`%-1-;W2&2_.D#&%":;K"I7"B0GAH%V[JNX0JN!0`#;9)W
M>[,UZ-HC[1JN6U`"W4`)Z`$%69`%+6L$1&"BN/JVU5)*?4D\&L!V8:E_N/BK
M9JD5O>@[P/JA?G"A:YD[5O=T`I@[@)F`@C#_N,93!!+PC&/!'N40"ZBP!PIP
M(=]CKG":(S+@"$-P.+ME#J3(9N8X43]0);%P.)U%F@5$*R88(DOJ.&S```N0
M!*M0L,_P#0"``$O`*33'@C3RL%Y:(RKY4C9"``E0"L>@"PCA`>>YDR1@`$MC
M>Y#C8Y$C*#>@`MU@H'F`%!YPI;_T@K-7`U5JLGHC9\Q5CO=)*J;2E-20!`E@
M!1>0`L#'-1Y0!0MQ."C@`<XE?-"6GNH;!28@N065"@H0`M=!H]ZI,:%3B(L@
M$L[0#XZ0)(/Q$##!"_8%MQH\(7)[`/LU!8AUMU$%;'Q9PB:\EV$`%8!;:E?U
M2;X3E]'X:MI#!`DF_Y>&<&%K!0=%\)5BH1R=99M.<2$^IB*.4VTWT`4R@"9C
M@A".0(IVZ)`,<`'38H]9E`4@4)JA\F9=UB%L0`(ZD`"WFP>YD`1"@`(1(&A(
M^X>IV:41JS!*V8T-H`+2M0B?(0O.VSESL@%H+%M^$HALB@;2D!-Y8`D<P$)L
MFAL4A"%KT"35V3"9MX]_HP($8`67P!JY$!A&P+96XP%;@@"$Z@+\HP!^9X.4
M^8C$%04*<(794%`8@,`^AD^.XVR%:$X_`42"P#9"XH,_O,&\+"%RJP1]FSMP
M8&`BS'2N1CQF<!XWO&L]H$%*%:).0#Q-T*$]0#Q/`*R%\`0+*J$MX+9<T?\3
M%V(C-^HX0RRH23P.0W*%3G$%79!]"^,&4FRFI]`!6F`"9\``_0IOCM,A#]#%
M9"`#!C48XY``%P!-7Z,QA+>S)"*\;4R\10R[8L`S\(<)-99%>.`!"MV$<R*=
M$S"&<Y5$-H(&T0<)(%`#)X``*I#2HJK2"'`!(S"$?M)L,1@Y`.L=F48XT'`<
MCB!.LAH`&P`&4?`%'P#*25``"/`I_/2_IKR>.,THD8#`W8%/#'"N$S`#<Z!.
MGV'+@M!#R$#+_M/+8,T@OXP#8E<$DE3,^W?,$HH#V3H(2O5@%N`%RUH"AZMJ
MWH)V`TBLLS`%V^P[]_<5/@@*!1..^0PJ[M,'2.S_43!Q&*+`SMGAD/#<41QD
M"K7``PK``NU,GQ[B0D;$`"H0`($AT*/(`@+'92>U*347O*K9T%P8NUTC!E@R
M`A_QP%GD`QN0T2*2QRWBT13#G5C@!ET@GCZ1"@)@`6EPM<@-KBB@`BSD)USK
M*3F#!3S#`B9`"<7!-I&@`"C``E50`:+Q!A'PF"2`!;@MGTC)U($M"0A,V"MB
M<.5HU>JT"(>A'`"1'"=38\B1"U\=UOS]%6,MU]?#5'^`UGFKUL*<`<E6"(SK
M!\-*!4WPJSWP`5/PJWA0/974C-X\"$Y@;+;6H6!1$`51RX&!!DWDNO@\TTB\
M*N?P"JD``E?@!H]-O&YP_P4[-`V?H0!:@`<)X"0/HRE\*CD34`9ML`4+<3)0
M\`8H^34G8GMC0XEK#+%-6"-.<R/E&#DYT`9!@`F/,`VW;3%SHH7?PUS_1)$-
M0`9OX`^UT`&9/`I9A!`IT0$\H`<T8!O8@2FL!-U!K@,^DP5Z`,K>K`B+T!"M
MT1Q)``468`!1Z`9;DIWHN=2H#!`\B`H%$0)V('PF[MYB`-_JL2"J(@N]=3AW
M`.*B[C;]7>I=,=9_8.$2VJ$$GJ$&KCLXD."$L,(MP`6JKFJP1J*OI@91!Y@:
M.`MJT`)BUTAU&Q:B/@A)T'I(R2%HY#4ST+DR\0P&E20)Z\XTPDI9G@B:@"8[
M/?]Q%,`K,]4GW#6$2P`&1*X0'?`%0N!W-)<Y7.9"6[K:4<ZIYT-SGCB%'Y`%
M&ML!MEW>=A"R._:1YVJ=*K("/J-;1E$<DMZ4`I`%&+`!Q_6\H#/5-V#NREL<
MAI!:EM`!<N@"Z.`"1$!N+-D=GR(H+9(S`]>''_GH4)$'"&PB_2I!YU75`%`F
MU$(5I&[J.G_J8V>7DY1@2=#JQMB6#E#T1G_T2!^7LCX(1P"7/;"AP*I43X`#
MSXS-4?$!$/`"2N``'.X[#N"@8Y'L[\XK+[0WSYX,?G$*_X`'"<LI[XP$B#`D
M"+$<+2L$>ZHIX4Y2?#JI6R#W2T)N=!;+&C*&^?3DP[O_I7[X0@RP`3(@V<^`
MT6Y,KO20);/[O"3R`VBP`%NP&=`GP:S,&D.0!@B`@HPN*!_R`PO@'Q@_"_W@
M%^+@`WF`.`6@,@/?'=CQ>I%SY_M$@RNO`#?V\J&R7'A/\Z)I)CM__!S<\Q76
M!&[G!$+_!V3Y?]*_]*Z.N#&L.R^0`=KS!W7-H,',X&:U_51Q!"+0`QGP!&,0
M!ASN=`Z2["=2CF0/IG0*[6D_[6R_@JE-(FZ`!$,-"'QY=WB%23P\0C8W$WT/
M.1,,CP\-8@TJ6TD"0R`!$4N/-PP38A,-#)5B?:NLK:LW-1@83#>K#ZZNI@VW
MI(U]2S\$0A]X>W@>M;BKIS<&_P4V##D,;@W*JVYE710$!29$>@*%>'>$>`(@
M,5T3#[6WK&Q]#0T4*'A#&(5_^OO[A7=[=_3HX;/'2((5/TBHBK>LEI@;#\2@
MLI,C!ZL'$6]$4<"O(YX02QK<R"&OCZE'$V8`*`;B3L>7,&/*G$FSILV;.'/J
MW,FS)[\!?H+Z&:`$ASXB#H0*=0!'J9\#&6`"5:HA@Q,16+-JW7HDIAFG&HJ`
MS8`#C[XG3L,D50J'K%F<>-2(<"+AQ9BF3OU,*>%39A(*[/I(K!:OW0P9>#"`
M"'<G3YX_>"[\@&3-$18D'US\X<-'G)XL'5"H>##!HDE)D,2P(1$!\9`L0LXP
M*&7GE/^84J>P3+A!HO*K6+.2N;/6B/"$TCE(,T``0$&Q8\-QN6'0+$&4,I$8
M,*@LCP$)$@A"L!"BY0.^QHK#T6#`)G!TB`U($/@`#L-`F1@`#A2'!P22'PG=
M(@]AN+%#`BH5F>9(1AO)]%%((Y5T$B0J[;%'2WUEJ.&&'';HX8=3!4644?J(
MD-=03D$%$UY"506$A@<X!0>+04'%Q3XE.#6`!DXY8!5,5-#5A!('R/0!%SWP
MV*,$'_[QUPT.H=*0(X<EMM@XCD$F&6F5/<`&$D8,L5EGA;C``P@+3-:(E*@=
MQ\82.E2A1P<8I#,!&S?@F4H?-S2`YPP(^,8G<+384MEQQZW_<ER"-V!!`AHH
M+/8',MPQL`0!"FQQ0CPE62-A#C<LT089,21Q7AY)+`8"#&5`A-%[?791Q1!#
M).82?N/L=X=Y6ZC@G1@8:5=-1'V04,<,J$A2VD4,<A33@R*15,V$*:UTX:U-
M9JOMMMQV*Y52(_+3PHDI1O52B$&YJ.$1Y`HU0`894,$/C2@J!947+TV1E[PS
M29!7&.9ZF`0"R44D96%4(I8>EH]%IJ9O7QJ!"*TNN#"$%ABP<`*7VFU736H/
M_'"!"5E\T.ML`R+:W2-=+$`IE-'])DNACAQ:42F^8`2)/"30\T$6'L3<RBUV
MK&$$$9+=Z8LRB)8&)6]81-!-!^;E_Y>$![UY^L"C>'0@@&/8QL09'W]TT,$7
M5E#`2"^G2"F/&S\LL(&R#2QK2[,.@A2MA+M0"("%&'HK^."$%VX3NN'V0V]>
M*KY$K[H:+LX6O!_P$T:[0S61@04O^>M4$1#,U`.Z?@#<I`\(O#K8E`]4N7!C
M#6^YM#)N!*'J)B[XD(00!6Q``BEM$[8*)%C\P`((L.WP0]W"EL(IGTM('4$M
M,.,"R\S"50;E.@L->!J?#-`@Q!`>"(\+:45K800*%&PG-"Z)#B]1!$&H00RM
M)J"QG=8,;)"'UV";"6?RT0$B"&$!O[M-HKPG$@:H``5SVYG=%O20!CU+;Q&:
M5M^JQ9*P&?_N@R`,89,05Y2.0`!S3PG83\;R(@U=KET`(]$^QM6NJF3@+?Q0
M0UX&T`0BR$0)>?%1DP96L-4AK'4*NQ+LM/0P:SP`"Q=0@`F$8((I)J``!&B?
MER2"BFDMZ`$,L$$"/D`$)'3!8]IQ@_/J)I$3Q"`-T^,31*Q'J.Q9`VXDF$1Q
MIN6^!R"`!4380#*(4S0C"$`!+%#!#]YW-Y,H\#A]*L,).)"`)!SA'@@8)"ZJ
MX88HD.,.G/%@1P:8!SX,00$Q4`'.XM<*[W0!4Q$TQ00Q4D%GP01:&33)!BMT
M+1'Z\I?`W`D)9;B/%Y*K<1UY7`9:F*$8M6L,&0@=/XB`.1_UP"O_>=&`"&+B
MA<4I084<0IWJ#B:2A%F),5ER&)>X@X`(1``-%+#!"7Y0AH34HCM]4M2"1'$!
M(A"A`"I8`BDX)0]9WL8-!E!`"5)`O3FZXGK!,90UT+"#,F`A0:Q(U#H>L`0$
M;*%\OA&#'>:C!Q=\(`84R)HR,**H[I$@DG1@#A%.60=-*H,!41`''_20#[&-
MC:=;($,9EN&I'\!`"'B8FR]FB;<+0DA:ND2)2CH8S*I:]:KZ&.:WC@G.K+)P
M0QEHUP">L+F7*.E$4)'F2UYP(C.H=1\2(-U0X#5$@M&2G(9)(CICUT1KU*$,
M99"$=U#1"UV(A#2-:,0M;C"#`'B#`V5(_Q!E!E0)-K@!`55(PD(;*C2(THR1
M?4!#(E^*'$@@2@P5>1,,?,<=+-R``""HV!!,`(`9'$H7'3M025#;AQ,$H%8U
M/50#?L`!(N!CIUD2H!YT%X(N4(.R)D%4'W+P1Q.X8`.DJ1M3:YFWI_)-JG_K
M)5;'2U[#:?4E0.3JBE#(7B;%1`V2\X,-<;@/L9!+<WR)B5R#`H<PC*$(&MBO
M'WS450V)\ZZ$*2<2S\DP)JY34+=MVG'$4(8\AFP-"E```>J@$):R0CMU8$,.
M5!`$/"0A#0R58V?K*-&[8>0&%)!!#$Y``C:0@A+FBXBQZN`;*%W*D%][3`!T
MT`5786$ZH-I-._].6XH;_&`[)U@`"KJ@4OB!<0-XR!T&DB!*?A3B0@J@P0S8
M(-)6B`1F8F@#$H3@`@P(DAU+J`BSN.O4O6D0O%0MKY[WK*WS=N0#QBS75MG;
M+O?&)-!**4(&KOD2M)RH+661"1<(32XX:([1`K.KP1*<5P8OT6&4@;#-%!3=
M7:S&`S(00BJ%$QU*E.('(1""`#`@@Q17[Z$LKAFS7AQC(1!@!G)F1X[YM%C?
M3$`^SL%#ECZ`@B!$X`3;J0CWV.&JZ*Y).P\H@PH6H+8NL8,"L?6!K6;R`0&<
MHP`IG:XFIPV)%22`"!U00`3Y).>[T?F6&(0JM7@9.#[[^]]]\;,)U>O_.$JW
M"RIJB(DS\_+-M^Y#!/M5-*9C,@4!8XXH\.+<APZ\:=:Y3HGIE)VHF:;8F"7'
M%"H`0!*JX($?K*(W-@56&`/P@7O4FK-TQ%Z+O_AM&1`!!5@#5@Z<QZR,"@K9
MXB`'K7Y^`476K!;KV&=T^R"L/CD0#:!5=Q>&P5,\<$8F=QC"!X2@@S*()(\9
MO<W02:""`B@`!#Q(PMPXM5V-V/(EN-3W+JW5;X#[_>\U$7A'QH#6`EN<T@B/
MB>=T]((,)!PF7V%<-&NBA,/O\)L_JFL1\6K.UX6\KR//Z$9O81J6+D$%2%!`
M$@BPO,#@J16E:8":38`($-Q<Q3F/J*Y=W',!_WP`W640\4(N\C0H=2D^!"#"
M)\TM=@&80`$)6``:H.V=2BB6G-HI#1@;D)S*`(OJ03""U\8FDP[,5C)/ZXW=
M[B21N#EG"#QP\_(*JB!:VKV[=HZJWP#79<#[W_^"QP])(%?(-"\&QU6/]Q(Z
ME!=F0!8RL7!*H3GX4A,]$%\Z8@:-MVC:PG%&I&`?MU<.-CNA)Q@;95J)<@-E
M0`'CD03I,`HO9E.W4`8<(`1?4`%G<GNWU@J>94>\!V,R(``NH```L"E#UVKL
M4&R>P@!ED'Q>0PZ&8&*%``()L`7<%B`GN`OQD'WP(!+PX'VU8`<1(`0\T`$"
M039>!AEEDP4:4PDD0?\"W%<PNS%<89AEKP$"&Q!8T5)_385OWG5G?I-G_Q>(
M_Z<$8^``AE@$3T!,+\$%16"(CM@"!48DCCB)E%B)DPB)"9@OA3B)W^0$,B$"
M!T")BH8#&E<3:M`$10`'I#,``V`&2I"!5E$YV4)$".9Q>M5@H":"H;<0"6)C
M5/<#$:`&)F4%:(!VE<$`/V`#*"`$IJ(`0E!K@K*#._<JWU8"7:,'"F``"G$*
M(YA1.2`?\-8!RI8'`M`!@D".B!!_B!0!V#%0Q6(*A$50@H(1I?$#,:``0.@"
M9M@/>6`6'Y``*5`&B+4F%4&/6_-'&/!V28`'\O924%)O%'1_=99+^Q9>?2?_
MB!@)<$<`+QRIB'@G`1S)D3'Q`2%9DB9YDO"2B7AWDMLT$Q!@DCU`7S1Q)"A9
MDCV@!C+I(1S(>0OF>7SU8-WH"Z8E!B2@;5$0`%DP!&I@`&Y@$C8U-`TP`QLP
ME1O@`56I`M&8:T;(:R6``>78"=/CAMVH*!R5?%K`&#Y0CF9C-N9F;@P9``N@
M`FZH"HPP("0A+)+08Z10!A&``LZAC_SP`8ZA;!IF6Q!A6M&F**6!`#N@`SOP
MF(Z922\&D?9G07R8?Q4)B!FYF7SV`53PF9^97S-A`:`)FL]2FJB9FJKYF3XT
M$R60FETQ$T20FJ6($Y[)!4[0`[JIFT[`!5X0F]Q"_XL==T0?B(N2$6IC*92D
MP`!M$`$`D`!'D`5EI`(YT!Z"8@DDL`1+0`)V\!U/B6LZMWL\!V/6V)9$D$IB
M.990(A\)4$54=`1'4$7R"0(L40C.2`,(8';KH`NQQR:@-9!%20`H@`$N0%_$
M(`X%0&,/,4C"LRB[493?D9UQUGTCH8?WAG?Y]EW[)UZ<V:$>^J$8N9.<UGD@
M]Y.Z.'**!0DC-AY$0)\_9P,*`2K_&1]"-V&B)HWB28T^:&X6\@'9V)1CR2<O
M%0$&8``A<*1'>@8A4*0&$``*T(]99E()0`,)H2CT5U`2\9^J\0!N``R8$@Y>
M)@X6H#^,T">G`)0EN"S'H?\SP/*0%BJ1ETF1>Z>9(%JG=GJG5R6<'=AI/LE$
MR.E$[M`I)K$@NW$"!?`S8I<`.P"DTT5JKA`?;@@E`T(-61F>6]ES9@,"(*`%
M%2`#&S`L9F8^3@2/TR`&;C`=T4!F/T`#?XD'-3<$`I``")`UNL!;E14/6'`1
MK0`L\#`22W`":R`$&-"/G'&@&-`"79`<-V`)PN*+#9%'R]HQVB$81TB9>XBA
M?:A_U<)_>-JMWOJMA2.BMNAIGP>4N,`&Y90=;^@(PC(!8&@%(#`$"4``;A`_
M)BAA^(JO$(:CETJ>?^"$RJ8'7$`&3S-0VD%T)`>DIV!]Q<$&>/*E_.$"%?`%
MLO'_$+RPIL4':\#&"[?11=YC"QLP'AC@`Z\Q!$)@1B-!"L,'/)35LHK)<X_P
MII:)K9@YIQP*KCB;LSKK$WK*D\7Y:<=YHAGU'7;`K!]3,Y65;6=0!:AT`N:3
MKU"KKY6J>_U*`7SAA/C@JC'P9-.UA:)J#:,`C]JU#!V[`4+0`>*6&%UC`B%0
M"=-R@L77!BB`=8P0J@/"4J2Q;4ZJ!^6!;C73"ZQ04%&KKZ]BK1?J$1GJA]MZ
MLSO;N([[N/P@KL1YBT"[2$+K"'40`516"H256(I)E"U3`!'P4G?#2D&J/5HY
M-*_BKP`K#@J`$&HWJ(+J*0I44,,S+3>`"7=@,4-@#$F0_P#E\Q#6=H0O=@('
MU`4VEC($M0N*%0E80`$C$`-;4`!E5P?>,WK:(5G:ZZBY(+-WA[C9FIF,"[GD
M6[[>VK,CVI,EZJ>7VP=N@`0&\`/+RBF64!J]L!H,,`,48'9D]K?M>[J#8JFJ
MRY7_6@[B``(H$`&2@%JJ,*V`*ABX40T?8[ON!P7F)P!)H`#_H1!K@[$Q>P-D
M\',ZD#6V>[WN0`E8<`H_T`7S-`K0]2K<J#W:0;I35W<S"[XU"U[<:KX\W,-U
M*KD>2+GEVKZ7405G\`/+@@584`JFT2E0(UT7&S\MZ[(9];7@2;4#7(T%K+:$
ML`<F`%`52JK>UC3R*"VEX4#W:/\$THE*`54-JH`HK]((95`#+I`$5N`K&(&%
M0],.[LO$JM``U/!<"^L(W4>-ALP.WG$@MZ`*I.&]^">G>#:^/CS)E/QWZ#NN
M?9J+OG$9`F`%*2!MJ+`0B"PE$Z9`+SO%J(S*4_M96<RZ2_0'Y(@Q!E!DH/*Q
M*]4(U'!/)2$M0R<1",`-`5``%Z`VT8$HKK(U75``%H,'"W!&;K@$RG"].Y,R
M;-,\T^9MO-$.>!(-CCR1>J?#DES)XCS.XP7$?+J^ZG2Y3P0`6O`%6Z`_#[%`
M#32M*HLS+^NQJ8S*61?`6+QK6DP.R34(8>*IK6)\H-4G-^`!R*)+;TAZQ#,-
M*D`!"##_`]QGNFOJ#F60`K*6!5F``C"0$`?RE#DF"ETT8:0Z+-E<?"J]#KRA
M?C)GP]_K98FKK5,5SN1\TS@=0I<\N>3*5W_J"ER*!!R=!"RPOWEDM'F<8+.;
M*-0F#X<,PV?F4*@KP/[LR@'='^$`?/1VN?*PA'<8$<-2>C>C8K<PD!;A$,`2
M+,:#!^!`)PF@`T]F8<,AP7?[*K"W)A),`EU@`RJ``'[]UX"-`"K0U\@B!E@P
M"MT<I]^\H1>9TX[]V(-CSB0*@NF\R9@!JR80!')Y'`LK;8)!=5UD=-36TBI=
M?!'Z-*O,@^-IM04<T+(P#F'6!I#@8='<`$LXA%ZR()2!VFV*_Q(IW*A\DK10
MP@`18`X?``)[X'L!X`$"56W+`%T)HK*.L$!\`C<[4`#8G=W:G=W!7``[X)"(
M/6=P2K.0_(<V#=GHG=X;0D1\8@G"4Z%5TA^$T!A>ITZ^$=1)0"NS94;<-\BE
MG!U==,*B@`946>`&3I4>$%Q=8@<UH*FT4-:M;+6#0`A9TH_X$`Y",`*S\;]8
ML(150`#L80N[;7RZ-*C"DB"$]<;@$0.T,FO(@XU#YEP07LS(H;(E%P^34`8>
M8`4*H!B:^N,_;@X"@(T&8':4L#2[0!HD<,,R;0>$+"&*R6^-H=Y47N4&A@#'
MD4")M373U04_N%QF00Z<@0&2T;GY6O^=F('!&$!&-5!DE.#`$`RXP4,"/T`!
M!<#6>M"/6<(9'0`"&,`'/K`%,!JUR;$$-=#.3``*VX,HDO4`5CNL`/T8_RH`
ML'P.)3"Z+*O*V99\%I`"J$`-\FQM@MHT.8"J#GD"K%H!'?!)+I$8'SX#C9P#
M=D"\C!0?S0IC++!<^_@24.H2K`(STJU=%,;D_0`2[<%&>U0:*H$/^"#I5O[L
MT&X3`Y/EO7`+5>?E9.@">O"O8T+FTV%M^?HE7B,+A_36C/K<HJHR;'<!PP"K
M:FL6?'X.;+T%"!"V4<O@B/X[BLGHVO?H$YY<=]`!L&QB23"$OQ.U<$8`7P`"
MB30-TV71Q4'_5%\D#ZJ1`V5P!F_0-0+`ZG^0D-#W:TO`"")F$<8([DY#?W%S
M!'C@`[N.=^/P!T7>,7(^84L>T\6^!+Q56,+2!S,P!V[I==$>]$+_$BX@F6)Y
M6*=0&MA>4ML.2F-^!?4Z?,IP&>)7"...`M=!'5FH'1"A]:3A9"TC!/BXZGF0
MM87`!_\P#GM`[]^IF(:>[Z9K*-4(Z:],#K"<!P5A`@1`8UT"*@I_-L`7Q@LD
M+-#E8J20`S]P!A;@`G=`G_K0ZH6P90I0`"O0!A`!2;I<U^Q0&F0F@TA5",[^
M$FE_!QC`*EA(&&`$'V5`[/H@``809SBV(*#.\P#0A/<Q]+@?[:B2_TFU?+>J
M@%I>;@3TJ6Q>-^87T)12CPM4'PY>&0X*@`(<0`<D_+)3AXPPD%GVX)9F[W7D
MD-P@P/:'(@9O_P5,H!#)7S-S_^^2_DE@HP5:`/TN1QP/P8058`)#)K^(A1L[
M+WJG!0@Y)"<7"A\^+GAX>7^-BTE)>"!$)3$I720-8A.<$WV??0VB#YL-:%8@
M>Q]YC(VNK@("BA@P2SDYGJ`,-P\-)%$*K\("(;:]#9\36&+,,P!&1HI\PM35
MUM?8V=K;W-W77`?AXN/D!R\27-WEZ^SA3=5>Y2+>U$KM]^)/WGCE2FKTPM0\
MT3#`CT&#`S0<\,(-G\-W`+7A48"@00Y1HO]X];GUH$L:(R`BL7*%X<(/!@T>
MJ%S)L@N2#WH4Z1$PY(.1+6C*8.PS@9DG3@_*V`B0Y,,'`7IB8L!SYPX>/GSN
MQ`*Q104)EE@_+:EAA`@!$F(^85UY@T*))'N:COS#AZD`J1UX*"A`(5.HL1-N
M$%`0%P2(-R-FE$&)+%2#7)QXYB+!P,8"$ZF>^ECT2A&>/33Q8$!!@$(7!KL>
M)/Z$T8Z8&X046,:#K8.L/!@,V.(HEH1&$CN"62-23,RQE!<WYIB!!!J(5A&3
M*U_.?%N+@]"C2S>H`2*VZ=BQ:Z@F0;J$Y06SBZ?N[<ET)<F/A!E/W8DV]N/-
M-*^&1P@%-XQ!Z___08)$F1,R@"12*[!=T,8/)^FG(&A=!)&$#QA`Q8<>'6BA
M``N>Z8?1@B<@84A3=_S!2AX@W@&55'Y5-=B""Y91PR0$E.$&BPN:I=H=>JS5
MUAVNP86!`@#,<-(/92"((`,(KI'$3$S=D0`2*:AP$C*=='+##0R0\,,,"!A0
M@`):^,6:#],(`V(L3?V11`!!P("&"EC,F&5^5Y+0111"[+$('AV$:(UKB\2V
M8GZ@E;'B#WA>8T((96"Y((+]G3`'"!^`\-1\F&:JJ7/P91?&$==UJAT$_[S2
M77130`!J1.&)&AT<$#"T#1S3:0`!0#BT"E\1%H3J:G2V4K%I'@H0L,*Q_\@F
M>RP'0B"%2&5XL,"!LM2NP`$+#T:8%(\\8"`$`-4J2X`01PP159FLE'BB+'BD
M84"XRL8QQ!<QP)OLN$NIU4I4//;9EB)"+&#O"G&X,!D&37V01`(`1!&!"KM<
M^<`-2VBI`ADK7+"%$)!%Q@B_9I;H)QY)*""$#"PPP4$*$5"`@`H(($!!!!P$
M@,=K>?1YS1UZBAC$P,<6<@T1X`[,`1=Z)$+FIDPWO>ESOT871A+71/UJ!O.8
M*MT!&90*D*Y1PY&!>]IPD5T+JW+3`]B[^FJU'V*GHRD?4)2L`!&00`*"`GSS
M[8+!23?"2M))"*%`$A@DKKCBA2?Q]U-Z1$63`/]$*.Z77XLGGH0`KHU(35-M
M":!GI25GOO@DJF61Q1!%(6ZZXH<O]=9:KH`(E1X^$`$"!DGLO;C=/NCQ0>(A
MXJ%'W0HD$(/#9-A`P<PKK,$""H=_T8&E2_T18AYHAGP'<FW-5-/E)UM1P!96
MH&"X2(K\\=8U,;$F@,DFW,T[WW[9301KUF11.09XRQO^^O8W@[F@3$Y+H`(!
M`K6W&40)_*.&`PTBMJRYXE30X9K7Z,$V5XF-;-DX0'8T(+=MJ(%65IM"U28(
M!QR4$%-XF`P(C-"!OTWF>I+0'2(4X0/!D6@(F@'!$))"Q"(*P`A#A!!2%&&4
MQ%DJ:4>TU&4P<SDQ*0+_.2(R'A\P\P%%R`(F131B2#;713PDPGAA)*+OF)*C
M5DB%+6[A`R)<8,4]V-&.>*@;'H;`KK<D+28S)`(1^"8$P_&M=WX1@`T3`2(1
M<>Y](]&7A)*B"!`DQ07QTTSBH-'%I5#24O"3"1`AL4=98``$'<B"`/;F)VO(
M(@D\2MK?C("!*&+`AC-!X`)WR4MK-'""/8C@*R8(-ZP)`X,'T6!R.BBJ#VK#
M`LSTPP`R\(&&3&<`9AC#`<9`D&L"P1K$C)LBTI2'IT@(=/SR(BO:4L[53.9F
M1CA$\#J@ISWDSP=X;*<DAF`ISDD%+E)Y"^>2>+/A+64U3>*9GF#3`9`(2$P'
M_S7>:G@$$N,AI2G;PBB:!``)>VKK,CAZ"QOUX!3$D<@IEHG%OR0ZA"%B1D\(
M-2,>CB(Z'.$HI7P4**!PQ`>:8$:1B8B%+"2'IIOM07(AFE`F]3DA?GV/#QW@
M(RE]\$X]H1-T?UB-43#C@J/@D`<=:.A,5R.ZI#`"=TSA`8ZHVD]ZQC!X>I!B
M3$GJE+3,@BE7I%TO]^J-7QJ$:QD(;&!?T((IC`&%T2G"-R4H-<$Z]K&0M6`C
MD/G7KBWS:I#-K&-!>`WSB&<AW-!`=`8`V,>N1SK^J(9T'*#9UF:`"Y&823N)
MZ(-8*`)0>^B32.^P.QY:RBEB0NM;2IJ*L);4GB#@0?\_^QD+'O!)%K9%(V^?
MV)1W7K$M(%BE%L+DW*0@)6\@Z*KBXB(@$"D"DS)YI%.\JR>JRB2L,)W0>KT8
M"][!DXXA4806>##<[XV(1*O$P$E-U,Y.4FJ</-""$:02$VC(3@`0:@K)7,`N
M)BE8$4-`Z4P4E]6ER/%F@#*89A3@@DA(PGUPH>\B])FXHL:%GUK0PQ`Z8!E$
M8$"YCUNK%RTS(1#W4<*2^$")?0")VMZA*++PP=U$>AEA\O7)V?"K'[C6@RI;
MN<H2P`%B#V*&'JBVL5<.LYBK+"RM14>9K+H:#L;,YAZ\D#ZG'6$PMP$VUF8`
M![%2@QI*(`('K-8)3O[#:N__W.8Q`Z&<[,R76E9,(A'QZ)$D[9%4%("9J+;4
ME`'=7ES`RK.I\%<`/%`NH';'7\V<*"F3R0.JVW)*(^PA#XB("X^`V"=T"I`/
M$:6D9K2WRB1`99P\VQ-4>&=2S7#N>MES"DR:$M9:ZX$'%0BU$4P)F0C^EQ6:
MI%T[X1I&'TS[#FH%P78Q@!FE-()WN(:$@-$;1)$FKDE_\&3D3FDIN@5*`7'-
M+A',*P!L,[J<^1Q)`0\(A;]!X9(N^(-:79#A[8UH*<A1;[]T=E#'B>2@[E4R
M*AMA7"A[/,I;RP!]/G`$)TA'`QGHE3"D$X:4+X>R4[9LFJ$3-TTY`6Q;-L@4
M-KC"_PQFH`=I<X7)HV,&'*A\F-%AK62W`97:-:5GZ'R%?\OYH]@).'%]B\2O
M$:<(U1BO`_8E&6Q6C(=2(ZS4)KH=F::!B&ZI6\!'-(("?N3$>+_EUXKP-6:,
M8(+][@X#O`Z)]O0T$PGC+GB[[JDB)YF47S\\<8Z`/+:I^L?/%2]"36\$BM0-
M;!.A\YT"!BON\M`6S/`!T>#N0+23*E+2(_4/VS4"*YRHA0JXVM3[3;"D[Z"X
M1=ST9FJENBS48JFP'O$R>^L`$?S^A5?/(L`\$IQF!*@`*8(:D_7=0RUY0(3K
MQ9YDJOFX^*LA9:YE`^>O92QT6G[TB,`<S5^[VIN94X313O]AM;=Z3V.)8(T!
M^'\`<``'+;=82`<=2D</--8^PW5;.)(4VN-YG^8:&%!1*=50-/06.Q1#HF-1
M%1832Z09CW898+5*QO=[?A$\0!1J%1!68"5D765;604Z/N`4H(9KE^$XCX-&
M>H`96243A2<9M>4:;!%=";521&A1=@1?<-$!2C4-)6)<FB%CD2,YE;9IKB$`
M2Q$\_;)*>A(+:'5#SL4]L@`"(9@SV844&84C?!1#!D-YL7`(`L`'6N`:4F1>
MEL$C&A8+@!(3WN6#L2!B,O6'9UA?/$!+H,8N9+5*-Z.'+@!6JT%),5%`JS%^
ME.@*Y2=R;D,=8Z-^!\%^+Q=R/-?_#>@W?\N1<RB'<R\0:-3`-@Z@BHU`!)`U
M?X.V=-IP.?AC/(@`$EVD!^\V&<J%!PM6?;NS)/1F%!754B'Q`?RT-[K#=4G3
M17V372.&C#,$:F!U2H,$"27V!=Q(!!]P/9"@.V)"(EE`8Q`R0SR@9'QS2S71
M-_73?79S.#<3/U3U2%5W.-4'4Q.!`4=Q!"%Q.$;!C.)X;'E'2IAQ!\C(-S2A
M,)%@3W=C`M`05GN3!*FT2GY1?<@G9#$$)A:"2(F#7HACD203"9=S%';#D+-`
M*4.@!1.X.R"P/I#P!U*47<D(!7Z!1/=3%%I@-XA$9(=38D518HLX/UHP2'M0
M`?[S;KQS_Y%)L%V4X@/;%8]9-U-VPX^N6(E\=8G8``'280:;N'*-U7X`\7XR
M%W\TEWZ8\@+2,089,`;2402T2`UF<$T.\!W54&5.X`1<P`4EP(D&<8#><"$&
MP`$&$`-"\"`N$`1!(`26$@380F%&$`-!8`)!L`:6&00!X`(%P`2660-(8`5$
MX#\QP`1"X`1K0``$L`!K<`5;<`56D`0E,`?O0@`L<`1$<P$)H#`L$`2-R`-?
M4`4UP`$<X)I'P`*HB9I,4`4%0`"G>05(@`)S,`<?D`5:L`5,4`(7``$5`"2#
MN0808`()P`3'20``\`56H#+#605$($.RXQH)L`#(R0134`!S8/^9ELD$%B`$
M03`M3&`%5G`%J8F<6R!$'V`"+'`!2&`!B)-='Q`#!(`"0O0M!&`!$"">J;D&
M!2`)6[`&);!=1+"A*U"80E`%3/`&D0`%-1``):":3,`$&G,$;\"9]AD#,3H'
MV!@`WBD$%W"<:S"9%U`(1/`%05``E7F:J#D'JI$$6Q`$55"A5J``6<`"2"`$
M%K"?',`$6T"B`6J9$."@EGD%`"`$7G`!%J`(8ZH&#BH#T*8&07`%0F"<!"">
M:\`%*4,46A``-6"=!K"E:6`%P<D!>7J56-E+6FD-)[267UF`!Z$!2B`!>?FH
MD`JI948-9!F*W(!S2O`"D;JI>3FIV"#_6C37!!D`!#CG92"7'0DQ!B\@*]S0
ME4HP-IP:J9-:`#9P`AOP,C%`!'S@`EV``"B0`$E``0:@`$/``T(P`F20`&1P
M`BJ@`G2P`SY``%(0,RK0!3`@!$.``AY`!P5P`3#S`UV@`A%``RJ`!.\)!C:P
M`2=@`P5P!"OP`S%`8AS@`7\C`"9P`2<0`2D@!>,2!3\`,P@P%`O0!LTJ)2'`
M`60@!-RX!BJP!39``%K``F"@`E$R%`%P`B=`K2-@`0;0!BP#!DRP%-.YH#1A
M!62@`B?`!C%S`1[`)3%#`0$0`VV`!NK*`0#P,#/@!@$;!%Z7!B?;!G-@2!,Q
M`G0``(<3`!'0_P8X"@8Q\S*%H``&0`=78`(F8`51<JLJ$`-I<`(LP#<6@``T
M4``H&S-=@`8HP`)2`#,J8`.%V08VD"<FL`!+$`(H0`%<PB4;D``((`7J4P41
ML``CT*S_H0(K(`0_<@5D$`!,\`,+4`5?8``1@`(```81X`%=L`$!X#(S<`-.
MJP,ZB[)=(*448`6\,P>C>P9%BP%04!5#80`_T+0V(`%K0`<$D`!"@`0($`0N
M@P58L+8`<`9=X`$1(`6Y,:CC)V5%T`)`L+Q`(`).T`,2H`0Y)TU/8$Q@.5K_
ME[W:ZW\'8`V5>EG8N[WBV[W9H`9U%E@?,)?1\01!5PT6`*KC(8`[M_\-UR2^
MX^L*'I`",I``";`"8W`X5R`SN*D`$1`"W1<-R*JL#_HD;;"B%)``)D,`;XL!
M,>`\A9L$VKH7"@`!-A`$5;$&A90`^BH#*X``'A``)K`&'K`4)?.P_+L`*5`"
M(\`L[Y@$,&R[Q1(!2-`%&X,"-",#CF$%%!`%]2,#*7``"=#!0D`$\?0&8(L"
MG)$":L"/1(`RH)D%?,`W:[`!25`!7N``I%D_"F`"*;`"_,L"&O`E"E`#&U`%
M8CS&`*`"`>`!!C",O#<"#.`!AALD)Q``!O#`@\2/`B#":/#`"H`$*@#%*+`"
M!Q``*J#&7XL$+#`#*&P$+/#(+,"NS;(PDSS_`P5@!"BP`3.P`#Y\!7<3I$F`
M!B>P`E:0`&C@ID)@!9Y,M2,6!(E+`+T*`"!``)&[`C!PQAJP!1$<`0F``2;`
M`7DK!(N\`A*`!F_`.W$PNB.`!1O`-TC```A@!9#;,85$`%B``$:+!#:``A\@
M!-:2!$3@!2JPF`K@K7UIO!\G95%3!('%?]=K-45P!('VO3.'ST=03==P?]'Q
MJEZ6`5V9?]@@`M%T'I:JJ%$S!O_\!QW"C5\@`R)`!$)`!@N@`Q&`.!&P!B9P
M/7<P`L1,!G0;`"&``$>P`!2@/@E@`#9@`E\P+>1J!48@P@OP`1ML`S10`S![
MF$<``!0`+I`[K`;@_P$WHP4F0`81$`,)@`(!4`$PL`&*O,0P_*M"$`(14``?
MG00`@``L4`*.$0,GL`4470+I0P$T\*OJ(]8;P`+\NP4PD016H,HG;$G"L\7$
M:L1TR[\<LP(\K3X;`Q)KD`()$$_*6`$!0`8;H`)Q4(Z@A@%G\"9;D`1GX`$G
M4``&0`9L#:P^<+,LT`8L\`$L<`(A$``)D`9]^LCB%LEB&P!"P#"9G<DQP-9O
MJ@(ZL`:DC08>L`;:N@!/K3Y"\,HV<`4BS`0S1`4SL`7;16'MG+A,0`$ZD`)4
MP,LHP`'E^JM;<`1ULP`)FP46H`/);`41$`4]X,Q`%`>G<-D4D`86,`(;`/^S
MD/NKMHL!"X`&T_T&`&`#">`#YJP#/Y(&Z5H`<4TU\.QQ\NPJ*/=S7_8V+1>*
M_&R65M-RI.@*Z)<!999STR2HC5`"TRL>TY2)O\):WS0#+&`$JT,I'U``)X`"
M-'`"P$H&!C!M,T72RMH%8``&Q(L!!$`')Z#C;?`8)4`!%W"Q2"``?KL`)".V
M`&``ACV=0Y"Y2+`"Y&D#OXO4?$0$2*OC5OX%,%`&;2`%4D`&:F`28BX%/V"T
M3/"V9Q`!)E`%CN&M*$`$+54I"7`@4D`'()L$!4`&.HX`N:HP04`'6-`&2+`D
MF+3%&#`$1OP#8DX'*0">'*#C)[``0E`I*MPLB@3_!5H0`Q1`!T4^H$+D`O`=
M`:XYKB>0!FL`!F$N!3;0`PK``5&@K1R@U'.@`F*>`ENPM:-=`:ZM`JW^`QM@
M`@5`!ZTN!7,0`S,0`RK`L2NP`P_J&70@YC.NUDR0N&C`!$>AW%O`.3.1!!<0
M`8H[%&2P!I#+OY,N!95N`B3#TMA*!"/P`SJ>MB@@`:-;$W&0S6>P`600!')`
M!C0PSE$[[S8`!"SML$P@SE10'RN@`WYQ!'V>YXYAX`?^9`G>*7:&`Y8Z00].
MJ:`(OA..EM4P=-!!SSC@"O5W9IYZ#4=0!`LM'2W0<U9#XG]0!P#@C4D@!Y-I
M`#,0`630!H7PT1C9`0E,_P91(`<L0*X`0``J0`-!0`/Z*@1ST`5,;:L*8`%_
M.Q.TB@1,$`&@Z8V>7B\$H`8K<]EFI`<6,`=;(*4;$`$0``,1```Q$`-R8-]$
M'@0U@`8C(`00H`(L$`%U#.<+``!]C,Y'$`,O@`)L._=:6P4QL`62Z0%D(`-=
MM`4(<`(44`!+H@AKL`,W8\0P,/<`L#$LL`5R\+M9"PDJ;`%=)&1;D`)1P-(I
MP`'5]S<PH`-7L`$P7-HX:N4Q```L4`4)L+81$+`)(`*E'P,+$`$KX`5<:Q-5
M4*X%@``]&@0C@``)(+87(/K*.0,"S@(IP`2][<.A/_=ID,I!D`:S[P'(+0!O
M4/\'6P!U>0#U:2#!5<#2,)`"9PL$<@`(2%$J,1@8"V0*+D<C:$$7:Q0T<6A6
M'Q\Q%%9G&VLZ!!$Q-FDP%``Q,7)'"V@)5S8+-FIX"BL[22`E,5LQ2!L(;W_"
MP\3%QL?(R<K+S,W%+7[1TM/4TP-F2AG:5,C5WM]^81EJQA+5!^/.Q@/@[='B
M7,D.U4\9$,,2[--P/7C-1SB*P-'G;L"]8^[<.<@`Y`^%*`F$"$F1(HT-&$R8
M;&@5P8"0!`J&C(B0@`P!B5947"!@PP0&!2P3I/#`Y,J9$P$21%B@P(@<&TA8
MJ+@B1$$"'1$"K"#PH0`%!!X4:.E@Q48,(@I8D(D114?_41-"\-#P\,:(@A`I
M$ICPH(."G"158`50P5-!@`AC4-@(`O;+%P@4"E2H$./$%B@?%,1@PL($GCQX
M!*S9@`%/B11U%0B108;OES=#DR0AX"$!"!!&?``@$T`(!P8+B/#@@2'*ABT(
M.A8P;(!,@B-"CAQA88,`DP4G8JPA6:$*`0HE$"P`R0(,BP(S`BC(JJ)$`1L%
M%(#E+D3'!@];T!!`$>'*=O%W'`E!@@!!C20?WF3'L^?/'3P71&`%$S8D(,,*
MN05`!A)%S44#?@M0(,0BYH&0A!`K1,$"`BQH9D`$,H2P@5-H&```=!\6I5D2
MK,"5PE,E&&&"#CML1QP+1:5G_X4Z//;HXX_+0).0-44TH4T&.'#3#35P..#D
MDU!&B0XYQ9A#S91`$A3-`%%V"24Z\1Q#A99^P*%-"<-\8$8U+5#)S`=`]*!$
M$1K`X8X9;A)339->>HE.0T&HX`$-*R07J!4=F%"`%"R@@08,,$01QQF^D?$H
M#`C,@`)+)G0@`!,J;'$"`$4EH`(3,NR$APMQJ$`J!R?L,-8)<V!(P!`8`$"'
M!TGP8(00&]!%`QH>5!$%`I!"^L8"$:@AP!`TD&$%$30LH<,72:@!BP)72!'%
MK%:@(&@4D#)!!1H47'`!!21],,0='P@@[QYY8"`997A8$8$'D$9A0!IGS$``
M#3IT$?\`$1@L%]8'1+B0!ADI(&'##&A4H0<>&(R0@A!DC%H`&`$8H$*R,``0
M1103?K#!#C',L`$-!*@0A0D$M`$##0CXQL(,6TRU16`LG*!#I%$$T7("!="Q
M@0(>+(`"!1Z<,0(,"UB`P`L6"&%`&0LD@8<,76R!!QYW_!>M"*":H(8579"!
M0A1M$!!$H5O@]YP"/ARQP08^X.'#"AM83<$"(4AQ`10CZ)``!<F)$O+(D')0
M``%H')%$`"<@4$('1ZR@`PA?DY$N#4\%`^3IJ*>>C)#3H*/$&&:0&<T8&?30
MD#+5B'/D[KSOGJ<P5K:>SH]DFMG[\4>&:<P4U3AP0#821"__P3S4.*"\,U3T
M@$,&30@D>S1-'&%,\\B7W]`7OB"`1@Q'Q&!`!2YHD8`!6Q"PP\DZQ$`#$S3?
M3VX!+E"."8R`@1AP@`4P4(,1AF"!"P0A`0N(06I*8`#!R*`&C@K%$100!``D
M(0OSNP#H7)`O&*!+<DD`P`XB!0,.E(`%3+``!N[`@C5P(0LR,!$40$`$#L0`
M"B:X`+ITP((ON"8*.TCB`HZP!1TX:@1;4``(]'`'`1"!/_/*U0+TP,`:)#$$
M4>"`#-Y`.03H```5^$(!8P.%OKF`"#'P@`<(H!P6@$`+(*#!!9(@`50E8`4E
MD,#)R+6!(%RA`";0@P(`<(47>H`"_VA8@`R@H#5T12$`'[`"`61P&N?(`04;
M()<.='"!+>P`"E4XX"HD(`3[<0`&.R#`$4(@MB-0(7\6LL`.2C"VLNEA<D)P
MGQ8^D`0FK$$(SD'7!I!`A$O$X`Q'P`,1+D`#`>"A`TB0)0M^@88+5.$#U#S"
M%389`&@"8`61NI\38K``$A(A"`8XPA"&4`,:#"$+4&CB$`&``=7Y\Y^G8YTT
MT'&D)MCI',W(70:\8(&&.O2A$/U`.<XQ/!\5SQX0S>A#B7`,/*QI2-X8``[$
MUR,\'"%.W*,>-8IP$#U5#Z,:U:A$`4K3FMKTICC-J4YWRM.>^O2GRA!H--`A
MC`^<]'M*8/^&0BV`NN`-M*(]NNCU?H0#D()C#"(X!A>><(`BA$$#+2T&'M0@
M@@/D#@?C>VE6@<K6MKKUK7"-JUSG2M>@4K08(I#=`%ZPC*4VE:*_4X=44Z=2
MJU)#`STP!A6J,85EX*$:9H#J'\BWUKI:]K*8S:QF-\O9?PK5#T0MAA*\`0<E
M+6D:XF#JZ9PZ5,D*EDD9F*I%#1M2):C6I=,P@Q.60:;(5E88E.VL<(=+W.(:
M][@U_6QHBZ$!;SB`HZ>51FK_>B77.F.PIV,>;;T1AMT6XZ"M"^PPG$"^J087
MN>A-KWK7R]ZZ*C<#QQ`!>*?1`G\@A!K372U@LP1;V?)HOGX8P`'_6D#@`ANX
M!:.EQ@`R8-]AC*$:>T6&?*M!._.JM;T8SK"&-\QA=;P7&4T@K7?3.@T-'.`%
MTDNQBJ5W6WPT[P!-6+&,`TLF`;=`QC@VK3"\4`T-O"`#.)8>@/U0A-L-XPAZ
M/<#UN*"$(0^@'CJ>[&$''.05M[C#6,ZREK?,U@\?(PEA\$81Q+O=:HS8Q66.
MA@36D69IM*`81:A&$9!TB3K;^1)F91(.&BR,.(=4`V'XZO?\L)`,S'08;99&
M8KG,Z$8[^M$_\K*8]-J$^R9:`K,@!FMIVX3?#=JJ2LCT'Y(@NWJ$5:NEOC(5
MA@S2O=:.Q&VV+J1G3>M:8UG2Q\B`-S1@_V1$)]H/2ABIIA.]7&%\&J1S)JFN
M#ZL-DBK#S[D]]1_RNMT!3&$;L$YS-FS-[6Y[>[VX/L9'J3$&/DLYT<%V]A\V
M;=AB_^'80TJV,,;]U$4O8]G4R`!TB;%JP\(A&_8P][G;O.UO&_S@"+]LN(U1
M`B>?>>#:%C::T^QN>"=$WA"`\(]_FXPC#!FKQSC"&%C-I"+4(P-..#1N"0[?
MA+O\Y3#GJ0@07(2:F[SERNA!5VU>\R:TN`53X+G0AT[T)DA<&"6@.=&7SO-Z
M%.,)+6"ZU&W>@@R(#P@$YCGM<'#E9/0@Z#Q70C]"KG,'U`D.:$>[!ISW8VVD
M'!E9G[K4G1[SNGC;_>ZH`T+OFD&$[?%N[,.P0/D&O[NC#T/OA!_\,?R>^/(Y
M^PB]>S@S&'^D*!.C!#T@/`Z<(-YB-)[P>`^]Z$??T3NK7!EX,/T'^)QZU;O>
K]0)O_>MG?_JBTO[V#99]G06^#-7SGAACY8(3>D#\'D#`"]%TQNUO'P@`.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
