Ccalc.xlsx

Evaluation Date

10/8/07

Stock Price

Out-of-the-Money At-the-Money In-the-Money

Dividend Expiration Yield Date

$ 100 $ 100 $ 100

Cost Basis Time Premium Return Return p.a. Downside Protection Max Profit % Breakeven % Max Profit % =

0% 0% 0% = = = = = = = =

Dividend p.a.

Strike Price

Call Premium (Bid)

Number of Days Cost To Exp Basis

0%

Time Premium

11/17/07 $ 110 $ 4.80 40 $ 95.20 $ 11/17/07 $ 100 $ 8.60 40 $ 91.40 $ 11/17/07 $ 90 $ 14.25 40 $ 85.75 $ Calculations

4.80 8.60 4.25

Return p.a. Downside Maximum No Change Protection Profit Profit In Common (Break Protection

15.5% 9.4% 5.0%

46.0% 85.9% 45.2%

Stock - Premium = If Stock > Strike, Premium-(Stock-Strike), Else Premium = If Stock > Strike, (Strike/Cost-1), Else (Stock/Cost-1) + Dividend p.a. Return*(365/Number of Days to Expitration) 1-(Cost/Stock) (Strike/Cost)-1 1-(Cost/Stock) (Strike/Cost)-1

4.8% 8.6% 14.3%

-10.0% 0.0% 10.0%