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height:8.25pt' background="http://www.voseconsulting.com/Pics/navbar.gif"> <p class=MsoNormal align=center style='text-align:center;mso-line-height-alt: 8.25pt'><span style='font-size:10.0pt'><script language="JavaScript" src="http://www.voseconsulting.com/js/menu.js"> </script></span><a href="http://www.voseconsulting.com/about_profile.htm"><NOSCRIPT>About Vose Consulting</a> | <a href="http://www.voseconsulting.com/consultancy.htm">Consultancy </a>| <a href="http://www.voseconsulting.com/software.htm">Software</a> | <a href="http://www.voseconsulting.com/training.htm">Training </a>| <a href="http://www.voseconsulting.com/publications_p.htm">Publications</a> | <a href="http://www.voseconsulting.com/resources_signup.htm">Resources</a> </p> </td> </tr> </NOSCRIPT> <tr style='mso-yfti-irow:2'> <td style='background:white;padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=1 cellspacing=7 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing:5.2pt;border:outset #9999CC 1.0pt; mso-border-alt:outset #9999CC .75pt;mso-padding-alt:7.5pt 7.5pt 7.5pt 7.5pt'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td style='border:inset #9999CC 1.0pt;mso-border-alt:inset #9999CC .75pt; background:#F5F7F8;padding:7.5pt 7.5pt 7.5pt 7.5pt'> <h3><span style='font-family:Verdana;color:#666666'>Newsletter Content, Issue #11, October 2007 <o:p></o:p></span></h3> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing:0in;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width="7%" rowspan=7 style='width:7.0%;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:Verdana; color:#666666'>&nbsp;<o:p></o:p></span></p> </td> <td width="93%" style='width:93.0%;padding:0in 0in 0in 0in'> <h5><span style='font-family:Verdana;color:#666666'>Email content<o:p></o:p></span></h5> </td> </tr> <tr style='mso-yfti-irow:1'> <td width="93%" style='width:93.0%;padding:0in 0in 0in 0in'> <p><img border=0 width=8 height=9 id="_x0000_i1027" src="http://www.voseconsulting.com/Pics/newsletter/bookmark.gif" align=absmiddle><a href="#event"></a><a href="#news"><strong>News</strong></a></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td style='padding:0in 0in 0in 0in'> <blockquote style='margin-top:5.0pt;margin-bottom:5.0pt'> <p><a href="#n1">ModelRisk for Insurance and Finance already a success before official release. </a></p> <p><a href="#n2">Opportunities to Demo and Beta Test ModelRisk.</a></p> <p><a href="#n3">Third version of Risk Analysis: A Quantitative Guide.</a></p> <p><a href="#n4">Vose Consulting presents at the Seattle INFORMS meeting.</a></p> <p><a href="#n5">Cindy Heramb joins Vose Consulting.</a></p> <p><o:p>&nbsp;</o:p></p> </blockquote> </td> </tr> <tr style='mso-yfti-irow:3'> <td style='padding:0in 0in 0in 0in'> <p><img border=0 width=8 height=9 id="_x0000_i1028" src="http://www.voseconsulting.com/Pics/newsletter/bookmark.gif" align=absmiddle><a href="#uc"><strong>Upcoming Risk Analysis Courses</strong></a> </p> </td> </tr> <tr style='mso-yfti-irow:4'> <td style='padding:0in 0in 0in 0in'> <blockquote style='margin-top:5.0pt;margin-bottom:5.0pt'> <p class=body-txt><a href="#uc1"><br> Animal Agriculture and Food Safety Risk <span class=GramE>Analysis</span></a><br> <em><span style='font-family:Verdana'>(November 12  30, 2007, <st1:place w:st="on"><st1:City w:st="on">Ghent</st1:City>, <st1:country-region w:st="on">Belgium</st1:country-region></st1:place>)</span></em><br> <b style='mso-bidi-font-weight:normal'><u>Act fast! There are only 2 more spots available!</u></b> This time only, the course will be taught over 3 weeks rather than 2 weeks. Among others, extra material in risk analysis as it relates to epidemiology and animal health will be included for the same price as the 2-week course.</p> <p><a href="#uc2">Corporate Finance Risk Analysis</a><br> <em><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>(March 12-14, 2008, <st1:place w:st="on"><st1:City w:st="on">Denver</st1:City>, <st1:State w:st="on">CO</st1:State>, <st1:country-region w:st="on">USA</st1:country-region></st1:place>)</span></em></p> <p><a href="#uc5">Custom courses at your location</a></p> <p><o:p>&nbsp;</o:p></p> </blockquote> </td> </tr> <tr style='mso-yfti-irow:5'> <td style='padding:0in 0in 0in 0in'> <p class=MsoNormal><img border=0 width=8 height=9 id="_x0000_i1029" src="http://www.voseconsulting.com/Pics/newsletter/bookmark.gif" align=absmiddle><a href="#rp"><strong>Recent Projects</strong></a></p> </td> </tr> <tr style='mso-yfti-irow:6;mso-yfti-lastrow:yes'> <td style='padding:0in 0in 0in 0in'> <blockquote style='margin-top:5.0pt;margin-bottom:5.0pt'> <p><a href="#rp1"><br> Credit Screening Process Optimization. </a></p> </blockquote> </td> </tr> </table> <p class=MsoNormal><span style='font-size:8.5pt;font-family:Verdana; color:#666666'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td style='border:inset #9999CC 1.0pt;mso-border-alt:inset #9999CC .75pt; background:#F5F7F8;padding:7.5pt 7.5pt 7.5pt 7.5pt'> <div> <h5><a name=news></a><span style='font-family:Verdana;color:#666666'><img border=0 width=17 height=18 id="_x0000_i1030" src="http://www.voseconsulting.com/Pics/newsletter/bookmark.gif" align=absmiddle><strong><span style='font-family:Verdana'>News</span></strong><o:p></o:p></span></h5> <h5><a name=n1></a><strong><i><span style='font-family:Verdana;color:#666666'>ModelRisk for Insurance and Finance to be released Winter 2007/2008</span></i></strong><span style='font-family:Verdana;color:#666666'><o:p></o:p></span></h5> <p class=MsoNormal style='margin-bottom:12.0pt'><em><span style='font-size: 8.5pt;font-family:Verdana;color:#666666'>ModelRisk for Insurance and Finance</span></em><span style='font-size:8.5pt;font-family:Verdana; color:#666666'> is a state of the art risk analysis tool specifically designed for the insurance and finance industries that allows the user to incorporate advanced actuarial and financial risk analysis techniques into Excel models. Copula fitting and simulation, distribution splicing and stochastic time-series models are just a few of the many functions that are now easily implemented.<br> <br> ModelRisk has already been used in a number of very diverse applications to help our clients forecast weekly cash-flows, dynamically fit non-parametric distributions, and implement copulas to accurately incorporate various correlation patterns in their models. <br> <br> Reviews from our 100+ beta-testers have been very positive. Also, we have received a number of excellent suggestions from beta-testers for additional features which our development team is currently implementing. <o:p></o:p></span></p> <p><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>Please visit our <a href="http://www.voseconsulting.com/software_mr_info.htm"><strong><span style='font-family:Verdana'>website</span></strong></a> for more information on <em><b><span style='font-family:Verdana'>ModelRisk for Insurance and Finance</span></b></em>.<o:p></o:p></span></p> <p align=right style='text-align:right'><span style='font-size:8.5pt; font-family:Verdana;color:#666666'><a href="#top">top</a><o:p></o:p></span></p> <h5><a name=n2></a><span style='font-family:Verdana;color:#666666'><br> <strong><i><span style='font-family:Verdana'>Opportunities to Demo and Beta Test ModelRisk!!!</span></i></strong><o:p></o:p></span></h5> <p><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>We continue to make demo/beta versions of ModelRisk available to all interested users. Please feel free to download the current demo/beta version of ModelRisk from our <a href="http://www.voseconsulting.com/modelrisk_demo_d.htm"><strong><span style='font-family:Verdana'>website</span></strong></a>. If you are interested in providing feedback, please also download the beta test documents from <a href="http://www.voseconsulting.com/modelrisk_bugs.htm"><strong><span style='font-family:Verdana'>here</span></strong></a>. <br> <br> We have recently developed a Quick Start Guide which will help new users learn ModelRisk and begin using ModelRisk to build risk analysis models. A copy of the guide is available on our <a href="http://www.voseconsulting.com/software_mr_info.htm"><strong><span style='font-family:Verdana'>website</span></strong></a>. <o:p></o:p></span></p> <h5><a name=n3></a><span style='font-family:Verdana;color:#666666'><br> <strong><i><span style='font-family:Verdana'>Third version of the book <u>Risk Analysis: <span class=GramE>A</span> Quantitative Guide</u></span></i></strong><o:p></o:p></span></h5> <p><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>Instead of slowing down during the European summer months, David Vose spent a large amount of this summer rewriting and expanding his popular book <em><span style='font-family:Verdana'>Risk Analysis: A Quantitative Guide</span></em>. &quot;Risk analysis is a constantly evolving field and the new, third edition of the book explains many useful and upcoming techniques&quot;, says David Vose. New topics added in the third edition include modeling copulas, financial time series, and many risk analysis techniques that Vose Consulting has found to be useful in a range of consulting projects. <br> <br> The planned publishing date by the publisher John Wiley and Sons, Ltd. is early March, 2008. <o:p></o:p></span></p> <h5><a name=n4></a><span style='font-family:Verdana;color:#666666'><br> <strong><i><span style='font-family:Verdana'>Vose Consulting presents at <st1:City w:st="on"><st1:place w:st="on">Seattle</st1:place></st1:City> INFORMS meeting</span></i></strong><o:p></o:p></span></h5> <p><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>Vose Consulting will be giving three unique presentations at the upcoming annual INFORMS meeting in <st1:place w:st="on"><st1:City w:st="on">Seattle</st1:City>, <st1:State w:st="on">WA</st1:State></st1:place> this November. We will be presenting the following workshops and lectures: <o:p></o:p></span></p> <ul type=disc> <li class=MsoNormal style='color:#666666;mso-margin-top-alt:auto; mso-margin-bottom-alt:auto;mso-list:l0 level1 lfo3;tab-stops:list .5in'><span style='font-size:8.5pt;font-family:Verdana'>1. <a href="http://meetings.informs.org/Seattle07/vendor.html#vose">Frontiers in Applied Quantitative Risk Analysis</a>  a free ½ day workshop on how to build sophisticated probabilistic models in a fraction of the time required for custom programming. <o:p></o:p></span></li> <li class=MsoNormal style='color:#666666;mso-margin-top-alt:auto; mso-margin-bottom-alt:auto;mso-list:l0 level1 lfo3;tab-stops:list .5in'><span style='font-size:8.5pt;font-family:Verdana'>2. <a href="https://informs.emeetingsonline.com/emeetings/formbuilder/clustersessiondtl.asp?csnno=7620&amp;mmnno=167&amp;ppnno=28027">Determining Aggregate Distributions of Financial and Insurance Risk in the Presence of Correlation</a>, a presentation in the Finance Risk Management session demonstrates some techniques for building aggregate distributions that combine copula methods of modeling correlation with aggregate distribution methods like <span class=SpellE>Panjer</span> and de <span class=SpellE>Pril</span> recursion and fast Fourier transforms. <o:p></o:p></span></li> <li class=MsoNormal style='color:#666666;mso-margin-top-alt:auto; mso-margin-bottom-alt:auto;mso-list:l0 level1 lfo3;tab-stops:list .5in'><span style='font-size:8.5pt;font-family:Verdana'>3. <a href="https://informs.emeetingsonline.com/emeetings/formbuilder/clustersessiondtl.asp?csnno=7748&amp;mmnno=167&amp;ppnno=28984">Building Sophisticated Risk Analysis Models with ModelRisk</a> - During this 45-minute session, we will be providing an overview of our new high-end risk modeling software tool, <em><span style='font-family: Verdana'>ModelRisk for Insurance and Finance</span></em>. <br> <br> In addition, we will have a booth in the exhibits section to present our risk analysis services and products (Booth 307). In case you plan to attend the INFORMS meetings, please come by and visit with us  we look forward to seeing you there! <o:p></o:p></span></li> </ul> <h5 style='margin-left:.5in'><a name=n5></a><span style='font-family:Verdana; color:#666666'><br> <strong><i><span style='font-family:Verdana'>Cindy Heramb joins Vose Consulting</span></i></strong><o:p></o:p></span></h5> <p style='margin-left:.5in'><span style='font-size:8.5pt;font-family:Verdana; color:#666666'>Cindy Heramb has joined Vose Consulting as Office Manager in our <st1:place w:st="on"><st1:City w:st="on">Boulder</st1:City>, <st1:State w:st="on">Colorado</st1:State></st1:place> office. Cindy is in charge of the many tasks associated with ensuring that overall office operations at Vose Consulting run smoothly. These responsibilities include responding to all inquiries, producing and sending our newsletter, accounting and many other responsibilities. We are very happy that Cindy has joined our team! <o:p></o:p></span></p> <p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;margin-left:.5in'><span style='font-size:8.5pt;font-family:Verdana; color:#666666'><a href="http://www.voseconsulting.com/about_staff.htm"><span style='text-decoration:none;text-underline:none'><img border=0 width=130 height=173 id="_x0000_i1031" src="http://www.voseconsulting.com/Pics/pic_cindy.jpg" alt="Cindy Heramb" align=center></span></a><o:p></o:p></span></p> <p align=right style='margin-left:.5in;text-align:right'><span style='font-size:8.5pt;font-family:Verdana;color:#666666'><a href="#top">top</a><o:p></o:p></span></p> </div> </td> </tr> <tr style='mso-yfti-irow:2'> <td style='border:inset #9999CC 1.0pt;mso-border-alt:inset #9999CC .75pt; background:#F5F7F8;padding:7.5pt 7.5pt 7.5pt 7.5pt'> <h5><a name=uc></a><span style='font-family:Verdana;color:#666666'><img border=0 width=17 height=18 id="_x0000_i1032" src="http://www.voseconsulting.com/Pics/newsletter/bookmark.gif" align=absmiddle><strong><span style='font-family:Verdana'>Upcoming Courses</span></strong><o:p></o:p></span></h5> <blockquote style='margin-top:5.0pt;margin-bottom:5.0pt'> <p><a name=uc1></a><span style='font-size:8.5pt;font-family:Verdana; color:#666666'><a href="http://www.voseconsulting.com/training_ahafsra.htm"><strong><span style='font-family:Verdana'>Animal Agriculture and Food Safety Risk Analysis:</span></strong></a><br> <em><span style='font-family:Verdana'>(November 12  30, 2007, <st1:place w:st="on"><st1:City w:st="on">Ghent</st1:City>, <st1:country-region w:st="on">Belgium</st1:country-region></st1:place>)</span></em><o:p></o:p></span></p> <p><b style='mso-bidi-font-weight:normal'><u><span style='font-size:8.5pt; font-family:Verdana;color:#666666'>Act fast! </span></u></b><strong><u><span style='font-size:8.5pt;font-family:Verdana;color:#666666;font-weight:normal; mso-bidi-font-weight:bold'>There are only 2 more spots available</span></u></strong><strong><u><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>!</span></u></strong><span style='font-size:8.5pt;font-family:Verdana;color:#666666'> This time only, the course will be taught over 3 weeks rather than 2 weeks. Among other things, extra material in risk analysis as it relates to epidemiology and animal health will be included for the same price as the 2-week course.<o:p></o:p></span></p> <p class=MsoNormal><em><span style='font-size:8.5pt;font-family:Verdana; color:#666666'>The regular 2-week course is split into two self-contained modules. Module 1 lasts five days and provides the basic principles of risk assessment and where it fits into the risk analysis process. Module 2 also lasts five days and has been greatly revised this year to include our research on model frameworks and model validation. This module should appeal to those who have already attended one of Vose Consulting's previous courses. The focus is less on the predictive microbiology and dose-response models, and more on producing models that risk managers can put their faith in.</span></em><span style='font-size:8.5pt;font-family:Verdana;color:#666666'><br> <em><b><span style='font-family:Verdana'>Instructor: </span></b></em><a href="http://www.voseconsulting.com/about_david.htm">David Vose, <span class=SpellE>MSc</span></a><strong><span style='font-family:Verdana; font-weight:normal;mso-bidi-font-weight:bold'> and <a href="http://www.voseconsulting.com/about_francisco.htm">Francisco J. Zagmutt, DVM, MPVM </a></span></strong></span><strong><span style='font-weight:normal;mso-bidi-font-weight:bold'><o:p></o:p></span></strong></p> <p class=MsoNormal><strong><span style='font-size:8.5pt;font-family:Verdana; color:#666666;font-weight:normal;mso-bidi-font-weight:bold'>This has become a very popular course. During the last four months of 2007 alone, we are teaching it in five different locations worldwide (four of them in-house for private clients and the one above open to the general public). <o:p></o:p></span></strong></p> <p><a name=uc2></a><b><span style='font-size:8.5pt;font-family:Verdana; color:#666666'><a href="http://www.voseconsulting.com/training_corpfin.htm"><strong><span style='font-family:Verdana'>Corporate Risk <span class=GramE>Analysis</span></span></strong></a><br> <br> </span></b><em><span style='font-size:8.5pt;font-family:Verdana;color:#666666; mso-bidi-font-weight:bold'>(March 12-14, 2008, Denver, CO, <st1:place w:st="on"><st1:country-region w:st="on">USA</st1:country-region></st1:place>)</span></em><i><span style='font-size:8.5pt;font-family:Verdana;color:#666666;mso-bidi-font-weight: bold'><br> <em><span style='font-family:Verdana'>This 3-day course will enable you to produce realistic, high quality financial (e.g. cash flow, forecasting or portfolio optimization) risk analysis models. We designed the course to encourage you to develop creative problem solving skills to ensure the risks being addressed are modeled accurately, efficiently and in a manner that provides decision makers with the clearest and most helpful input.</span></em><b><br> <em><span style='font-family:Verdana'>Instructor: </span></em></b></span></i><span style='font-size:8.5pt;font-family:Verdana;color:#666666;mso-bidi-font-weight: bold'><a href="http://www.voseconsulting.com/about_huybert.htm">Huybert Groenendaal, PhD, MBA, <span class=SpellE>MSc</span></a><strong><i><span style='font-family:Verdana'><o:p></o:p></span></i></strong></span></p> <p><a name=uc5></a><b><i><span style='font-size:8.5pt;font-family:Verdana; color:#666666'><a href="http://www.voseconsulting.com/training_custom.htm"><strong><span style='font-family:Verdana'>Custom courses at your location: </span></strong></a><br> <br> </span></i></b><em><span style='font-size:8.5pt;font-family:Verdana; color:#666666;mso-bidi-font-weight:bold'>Vose Consulting is often asked to organize in-house courses on specific risk analysis related topics. We can provide in-house training either in the form of a series of workshops or lectures. You can choose off-the-shelf modules from <a href="http://www.voseconsulting.com/training_topics.htm"><strong><span style='font-family:Verdana'>general courses </span></strong></a>or have the material tailored specifically to the types of problems you often face.</span><o:p></o:p></em></p> </blockquote> <p align=right style='text-align:right'><b><i><span style='font-size:8.5pt; font-family:Verdana;color:#666666'><a href="#top">top</a></span></i></b></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td style='border:inset #9999CC 1.0pt;mso-border-alt:inset #9999CC .75pt; background:#F5F7F8;padding:7.5pt 7.5pt 7.5pt 7.5pt'> <h5><a name=rp></a><span style='font-family:Verdana;color:#666666'><img border=0 width=17 height=18 id="_x0000_i1033" src="http://www.voseconsulting.com/Pics/newsletter/bookmark.gif" align=absmiddle><strong><span style='font-family:Verdana'>Recent Projects</span></strong><o:p></o:p></span></h5> <p><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>Recently, Vose Consulting has certainly been busy with a number of interesting projects. Unfortunately many are all too confidential to list in our newsletter; however, you may find the project described below very interesting. There are descriptions of additional projects on our <a href="http://www.voseconsulting.com/examp_prj.htm"><strong><span style='font-family:Verdana'>website</span></strong></a> .<o:p></o:p></span></p> <h5><a name=rp1></a><em><span style='font-family:Verdana;color:#666666'>1. Credit Screening Process Optimization</span></em><span style='font-family: Verdana;color:#666666'><o:p></o:p></span></h5> <p><strong><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>Problem:</span></strong><span style='font-size:8.5pt;font-family:Verdana;color:#666666'><o:p></o:p></span></p> <p><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>The client, a finance company, processes a large volume of credit applications on a 24/7 basis. Processing time and cost of the application process are key ingredients to the client s profitability. Part of the application screening process is to run the borrower s information through a number of steps which include several internal systems and several different credit bureaus. Each of these steps happens in a prescribed sequence. After each step, a decision is made to either reject the borrower s application or to go to the next step. Obtaining the data from each credit bureau has a unique cost and processing time. Running the borrower s information through each internal system also has an associated processing time. The client was interested in determining the best sequence of steps to optimize for the lowest average cost and/or lowest average processing time.<o:p></o:p></span></p> <p><strong><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>Solution and result:</span></strong><span style='font-size:8.5pt;font-family:Verdana; color:#666666'><o:p></o:p></span></p> <p><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>Our consultants reviewed and analyzed the client s current process. Historical data on processing <span class=GramE>time,</span> cost and reject rates for each step in the client s process was used to calculate conditional rejection probabilities for each potential sequence of steps. A risk-based optimization model was developed which determines the sequence of steps that provides the lowest average cost and/or lowest average processing time. <o:p></o:p></span></p> <p><strong><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>Result:</span></strong><span style='font-size:8.5pt;font-family:Verdana;color:#666666'><o:p></o:p></span></p> <p><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>A flexible model was provided which allows the client to optimize the sequence of steps in their screening process. It also allows the client to run what-if scenarios when considering the addition or removal of steps from their existing process. A graphical representation of the  efficient frontier was also generated showing processing time versus processing cost for each sequence of steps. This allows the client to visualize trade-offs between cost and time for various scenarios. The model, as well as documentation and training on the model, was delivered to the customer within budget and on time. The customer is very satisfied with the results of the project and expects to realize significant cost savings from use of the tool.<o:p></o:p></span></p> <p align=right style='text-align:right'><span style='font-size:8.5pt; font-family:Verdana;color:#666666'><a href="#top">top</a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4;mso-yfti-lastrow:yes'> <td style='border:inset #9999CC 1.0pt;mso-border-alt:inset #9999CC .75pt; background:#F5F7F8;padding:7.5pt 7.5pt 7.5pt 7.5pt'> <h5><strong><span style='font-family:Verdana;color:#666666'>Contact Information</span></strong><span style='font-family:Verdana;color:#666666'><o:p></o:p></span></h5> <p><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>For additional information or make suggestions, please feel free to contact us:<o:p></o:p></span></p> <p><strong><span style='font-size:8.5pt;font-family:Verdana;color:#666666'>Website:</span></strong><span style='font-size:8.5pt;font-family:Verdana;color:#666666'> <a href="http://www.voseconsulting.com/"><b><br> <strong><span style='font-family:Verdana'>www.voseconsulting.com</span></strong></b></a><br> <strong><span style='font-family:Verdana'>Email:</span></strong> <br> <a href="mailto:info@voseconsulting.com"><span style='color:#666666; text-decoration:none;text-underline:none'><img border=0 width=137 height=11 id="_x0000_i1034" src="http://www.voseconsulting.com/Pics/email_info.gif" align=absbottom></span></a><br> <strong><span style='font-family:Verdana'>Phones:</span></strong><br> +1 866 259 7434 <em><span style='font-family:Verdana'>(Toll Free, US only)</span></em><br> +1 303 440 8524 <em><span style='font-family:Verdana'>(From outside US)</span></em><br> <strong><span style='font-family:Verdana'>Fax:</span></strong><br> +1 303 440 0320<o:p></o:p></span></p> <h5 align=right style='text-align:right'><span style='font-family:Verdana; color:#666666'><a href="#top"><span class=GramE>top</span></a><o:p></o:p></span></h5> </td> </tr> </table> <p class=MsoNormal><o:p></o:p></p> </td> <td style='background:white;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:10.0pt'><o:p>&nbsp;</o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3;mso-yfti-lastrow:yes'> <td style='background:white;padding:0in 0in 0in 0in'> <p align=center style='text-align:center'><span class=bottom-txt1><span style='font-size:7.5pt'>© Copyright 1997-2007 Vose Consulting, All Rights Reserved. </span></span><a href="http://www.voseconsulting.com/legal.htm"><br> Legal Notice</a><span class=bottom-txt1><span style='font-size:7.5pt'> | </span></span><a href="http://www.voseconsulting.com/return.htm">Return/Refund policy</a><span class=bottom-txt1><span style='font-size:7.5pt'> | <a href="http://www.voseconsulting.com/privacy.htm"></a></span></span><a href="http://www.voseconsulting.com/privacy.htm">Privacy statement</a><span class=bottom-txt1><span style='font-size:7.5pt'> | </span></span><a href="http://www.voseconsulting.com/delivery.htm">Delivery terms</a></p> </td> <td style='background:white;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:10.0pt'><o:p>&nbsp;</o:p></span></p> </td> </tr> </table> </div> <p class=MsoNormal><o:p>&nbsp;</o:p></p> </div> </body> </html>