Estate of Josephine T. Thompson, Deceased, Carl T. Holst-Knudsen and the Bank of New York, Executors - Page 10

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               For its fiscal years 1993-98, the number of purchasers or              
          subscribers to TPC’s print and CD-ROM directories, and the number           
          of subscribers to TPC’s Internet directories are set forth below:           

          Fiscal           Print           CD-ROM            Internet                 
           Year         Subscribers        Subscribers        Subscribers             
          1993           73,500              1,000               N/A                  
          1994           78,000              2,500               N/A                  
          1995           81,000              5,000              40,000                
          1996           80,000             13,000             225,000                
          1997           67,500             25,000             550,000                
          1998           45,500             45,500                *                   
                    *  Not in evidence                                                

               Historically, TPC’s revenue was generated from the sale of             
          subscriptions to and advertising in its print directories.  For             
          the last 30-plus years, the largest percentage of TPC’s revenue             
          was generated from the sale of advertising.  For example, for its           
          fiscal year 1972, advertising revenue associated with TPC’s                 
          directories accounted for 86 percent of TPC’s total revenue.  By            
          its 1993 fiscal year, advertising revenue associated with TPC’s             
          directories accounted for more than 90 percent of TPC’s total               
          revenue.                                                                    
               Set forth below for each of TPC’s fiscal years 1993-2002 are           
          the numbers for TPC’s subscription and advertising revenue and              
          the percentage of TPC’s total sales revenue reflected by                    
          subscription revenue and by advertising revenue:                            










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