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Financial History <br />H.1"od <br />Coral C +hies 1"S Harr, cun Strcer <br />7,6551r Ini nc Rd Su,to 325 Chaves Oklk ly—d <br />Enrol Cahlcs Nol <br />Flnrda 33134 Plorala.330 ?0 <br />Phone (:105) 728 1335 Armstrong,PA Phnnc- (954)923 1090 <br />Faa. (305) 7a 1337 CrruticA Pohhc Arc aunt.0 +I <sud k —c, ", I'aa (9541 923 27 95 <br />September 7, 2005 <br />Dear Sir or Madam: <br />We are the accountants for Miller, Legg & Associates, Inc. (the "Company ") and are providing <br />this letter, at the request of the Company, in connection with their response to request for <br />proposals. <br />Given that the Company is a privately owned and operated organization, its financial statements <br />are not readily available to the public. Should the Company attach its financial statements to <br />proposals, such information would become public records by virtue of the proposal being a matter <br />of public record. The Company believes that this would not be in the best interest of the <br />Company or its shareholders, since the information would be available to all parties, including <br />competing firms. Notwithstanding, the Company has asked us to provide the following <br />information from its financial statements that have been reviewed by our firm. A review consists <br />principally of inquiries of the Company's personnel and analytical procedures applied to financial <br />data. It is substantially less in scope than an audit in accordance with accounting standards <br />generally accepted in the United States of America, the objective of which is the expression of an <br />opinion regarding the financial statements taken as a whole. Accordingly, we do not express such <br />an opinion. <br />The reviewed financial statements as of December 31, 2004 and 2003, which includes our review <br />report dated June 30, 2005, reflects the following: <br />Total Assets <br />Taal Stockholders' Equity <br />Gross Rcvcnues (for the year ended) <br />2004 <br />S 7,132.019 <br />S 1.684,629 <br />S 18,296,003 <br />2003 <br />S 5.449,309 <br />$ 886,773 <br />S 13.001,837 <br />Should you have any questions, feel free to call me at (954) 923 -1090, ext. 260 or send a note to <br />carmstrone!rr-chavesandarmstron¢ com. <br />Sincerely, <br />Cra �.g <br />Principal for the Firm <br />--w chpvcsondannstrnng coin <br />