*There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. Alaron Trading Corp., its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Security futures products are not available for trading at this time. Upon regulatory approval, you should contact Alaron.com at (800) 275-8844 to obtain a copy of the required security futures products risk disclosure statement. Security futures products are not suitable for all types of investors. There is substantial risk of loss in trading futures and options. The date of first use of this material is June 28, 2002.

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