COMPILATION REPORT

1.  A compilation has been performed in accordance with the standards established
      by the AICPA.

2.  A compilation is limited to presenting in the form of financial statements information
     that is the representation of management.

3.  The financial statements have not been audited or reviewed and, accordingly, the
     accountant does not express an opinion or any other type of assurance on
      them.

REVIEW REPORTS

2.  All information included in the financial statements is the representation of the
     management of the entity.

3.  A review consists principally of inquiries of company personnel and analytical
     procedures applied to the financial data.

4.  A review is substantially  less in scope than an audit, the objective of which is
     the expression of an opinion regarding the financial statements taken as a
     whole and, accordingly, no such opinion is expressed.

5.   The accountant is not aware of any material modifications that should be
       made to the financial statements in order for them to be in conformity
       with generally accepted accounting principles, other than those
       modifications, if any indicated in his report.

AUDIT REPORTS

2.   The financial statements are the responsibility of client management... the CPA's
       responisbility is to express an opinion based upon the audit.

3.   Audit conducted in accordance with Generally Accepted Accounting
      Standards [GAAS].

4.   Those standards require that the CPA plan and perform the audit to obtain
       REASONABLE ASSURANCE about whether the financial statements are free of
       material misstatement.

5.   Examine, on a test basis, evidence supporting amounts and disclosures in the
      financial statements.

6.   Assess accounting principles used and significant estimates made by manage-
      ment... as well as evaluate the overall financial statement presentation.

7.   We believe that our [CPA] audit procedures provide a reasonable basis for
      our opinion.

8.   Express the opinion:  Financial statements present fairly, in all material
      respects, the financial position of company as of {DATE} in conformity with
      generally accepted accounting principles [GAAP].