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ARNETTE CREELY DUNCANSON & SHEINFELD, LLP <br />CERTIFIED PUBLIC ACCOUNTANTS AND CONSULTANTS <br />1948 HARRISON STREET <br />HOLLYWOOD, FLORIDA 33020 <br />TELEPHONE (954) 923 -1090 <br />FACSIMILE (954) 923 -2785 <br />Gentlemen: <br />August 5, 2004 <br />We are the accountants for Miller, Legg & Associates, Inc. We are writing you this letter <br />in response to your request for financial statements from this entity as part of their <br />response to a request for proposal. <br />As this company is a privately held company, the financial statements are confidential. If <br />they were to be submitted with this proposal, they would then be part of public records <br />and, accordingly, available to anyone including competing firms. We do not feel that this <br />is in the best interest of our client's business. <br />The reviewed financial statements as of December 31, 2003 and 2002 of Miller, Legg & <br />Associates, Inc. reflect the following: <br />2003 2002 <br />Total Assets $ 5,449,309 $ 4,964,200 <br />Total Stockholders' Equity $ 886,773 $ 684,619 <br />Gross Revenues (for the year then ended) $13,001,837 $13,301,500 <br />Reviewed financial statements are the representation of the management of Miller, Legg <br />& Associates, Inc. and consist principally of inquiries of company personnel an analytical <br />procedures applied to financial data. It is substantially less in scope than an audit in <br />accordance with generally accepted auditing standards, the objective of which is the <br />expression of an opinion regarding the financial statements taken as a whole. <br />Accordingly, we do not express such an opinion on the December 31, 2003 and 2002 <br />financial statements or other financial information stated above for 2003 and 2002. <br />Our client would be happy to meet with your financial department to show them the <br />complete financial statements; however, for reasons mentioned above, they are reluctant <br />to provide you with a copy for your files. <br />If you have any questions, we will be happy to discuss this matter with you. <br />Sincerely, <br />ARNE7TE CREEL Y D UNCANSON & SHEINFELD, LLP <br />Vincent Amette <br />Partner <br />\ X <br />\>000 <br />