Domestic Subscription Service
Unit  Economics  currently  offers  select clients  subscriptions  to the
Domestic   Service.   Our   research   efforts  for   this   product   are
focused on  initiating and continuing research coverage on 6-8  new
U.S.-listed  stock  ideas  (either  long  or  short ideas)  per year
.  For
each   idea,  we  publish  a   comprehensive  10-20  page   research
report.  Our  reports include financial models and earnings forecasts
(see
sample report), as well  as industry analysis and other relevant  
material.   In  addition,  we  continue  to  publish  periodic updates as
significant events occur.

We also publish 3-4 20+ page,  macro/thematic  reports  each  year.
These  reports  cover  topics that  impact  investment  returns, such  
as  the grain  markets,  natural  gas and  Global Cooling.  Generally
(but  not  always,  our   macro/thematic reports are married with  our
individual   stock   ideas   in  the   hope s  of   enhancing   both   our
informational advantage and client returns.

In  addition, our analysts are  always available to subscribers and we
frequently   travel   to  meet  our  clients  to  discuss  ideas  and   the
markets in general.


Pay Per Idea Clients
We are able to offer research on securities that  do  not  fit  into  our
European   and   Domestic   Portfolios   to   clients   that    have  not
subscribed  to either service.   In   some   cases   we   will   offer   an
idea  that  we  have researched for our
Portfolio subscription  clients
to our  
Pay Per Idea  clients  with  a  five  trading  day delay from the
time the research was presented to our
Portfolio clients.  In addition,
as  we  learn  the investment criteria  of  our
Pay Per Idea Clients we
will,  on  occasion,  focus  our efforts to find ideas and write research
reports that  fit their specific  needs.  We  do  not,  however,  publish
research on any company at the request of our clients - all ideas are
internally-generated by the Unit Economics team.

Recipients of this research should be  aware  that the publisher may
invest in many of the same ideas it provides to  its  research  clients,
either for its own account or in connection with managing  assets  for
third  parties.   The  publisher  is  not   obligated   to   invest   in   the
companies addressed  in  research  reports and  it may  buy, sell, or
hold such  companies  at  any  time  in its sole discretion and without
any obligation  to  inform  research  clients  of such actions.  In many
cases, the publisher may buy or sell positions  for its own account or
in connection with managing assets  for  third  parties  in advance of
delivery  of  research  reports.   Your  subscription  to   this   service
constitutes your acceptance of this policy.