1.   Investment-grade issuers included Mirage Resorts Inc.

2.   Nasdaq issuers include Microsoft and Dell Computer.

3.   Other issuers include Canada, Australia and New Zealand.

4.   Other issuers today included CIT Group Holdings, a financial services company and frequent borrower, and Loews Corp, a company with interests in insurance and cigarettes.

5.   Other issuers included McDonnell Douglas Corp., Tribune Co. Norwest Financial Inc. and Borg-Warner Automotive Inc.

6.   Other issuers today included CIT Group Holdings, a financial services company and frequent borrower, and Loews Corp., a company with interests in insurance and cigarettes.

7.   Typical issuers include companies, governments and federal agencies.

8.   Hence, it is not uncommon that the issuer includes proceeds from warrants conversions in its cash flow projections.