Peter R. Geddis - Page 3

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          basketball), a broadband fiber optic network that would provide             
          residents of Trieste with high speed Internet access to                     
          financial, cultural, and community information and to other                 
          telecommunications services.                                                
               The proposed Trieste project involved development of an                
          infrastructure and the software applications necessary to qualify           
          Trieste as a “digital city”.                                                
               Apparently, the proposed Trieste project was approved by               
          Italian government officials and organizations.  Telcom-Italia,             
          one of Italy’s major telecommunications corporations, and IBM-              
          Italy were to be involved in the Trieste project.                           
               In late 1997 and 1998, funds were raised, and various                  
          aspects of the Trieste project were begun.  In 1998, meetings and           
          negotiations were held with government leaders and local                    
          businessmen and with officials of Telecom-Italia and IBM-Italy.             
          Also, certain construction activities relating to the Trieste               
          project were undertaken.  For example, some of the streets in               
          Trieste, Italy, apparently were dug up in preparation for the               
          installation of fiber optic cable.                                          
               Adrical, Inc. (Adrical), a Delaware corporation formed on              
          September 14, 1998, was involved in aspects of the management of            
          the Trieste project.  The record does not reflect who invested in           
          Adrical, who owned the stock of Adrical, who filed the                      








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