Enterstand Limited

Financial Statements

For the Year Ended December 31, 2000

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Enterstand Limited        Contents        For the Year Ended December 31, 2000

|                                  |                                                           | Pages
|--------------------------------- | --------------------------------------------------------- | -----
|Report of Independent Accountants |                                                           | 1    
|Financial Statements:             |                                                           |      
|                                  | Statement of Operations                                   |      
|                                  | Balance Sheet                                             |      
|                                  | Statement of Cash Flows                                   |      
|                                  | Statement of Stockholders' Deficit and Comprehensive Loss |      
|Notes to Financial Statements     |                                                           | 6-10 

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Report of Independent Accountants

To
the Board of Directors
of Enterstand Limited:

In
our opinion, the accompanying balance sheet and the related statements of operations, of cash flows and stockholders' deficit and comprehensive loss present fairly, in all material
respects, the financial position of Enterstand Limited at December 31, 2000 and the results of its operations and its cash flows for the year then ended in conformity with accounting principles
generally accepted in the United States of America. These financial statements are the responsibility of the Company's management; our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit of these statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.

As
discussed in Note 8, the Company is disputing charges made to the Company by CCC Information Services Inc. and its subsidiaries, including all related liabilities as
of December 31, 2000. All such amounts have been reflected in the Company's financial statements.

/s/
PricewaterhouseCoopers LLP

Leicester,
England
June 26, 2001

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Enterstand Limited        Statement of Operations        For the Year Ended December 31, 2000

|                                |                                            | £           |           
|------------------------------- | ------------------------------------------ | ----------- | ----------
|Revenues                        |                                            |            |           
|Operating expenses:             |                                            |             |           
|                                | Research and development, related parties  |             | (4,718,701
|                                | General and administative, related parties |             | (4,501,982
|                                | Depreciation                               |             | (979,885  
|                                | Impairment of long-lived assets            |             | (484,708  
|                                | Other general and administative            |             | (145,612  
|                                |                                            |             |           
|Operating loss                  |                                            | (10,830,888 | )         
|Other income and expense:       |                                            |             |           
|                                | Interest expense, related parties          |             | (435,908  
|                                | Other income                               |             | 70,139    
|                                | Foreign exchange loss, related party debt  |             | (463,728  
|                                |                                            |             |           
|Loss before income taxes        |                                            | (11,660,385 | )         
|Income taxes                    |                                            |            |           
|                                |                                            |             |           
|Net loss and comprehensive loss |                                            | (11,660,385 | )         
|                                |                                            |             |           

The
accompanying notes are an integral part of these financial statements.

2

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Enterstand Limited        Balance Sheet        December 31, 2000

|                                                                                            |                           | £                           |          
|------------------------------------------------------------------------------------------- | ------------------------- | --------------------------- | ---------
|ASSETS                                                                                      |                          
|Cash                                                                                        |                           | 118                         |          
|Receivable from related party                                                               |                           | 222,654                     |          
|Other receivables                                                                           |                           | 390,778                     |          
|                                                                                            |                           |                             |          
|                                                                                            | Total current assets      |                             | 613,550  
|Fixed assets, net                                                                           |                           | 110,844                     |          
|                                                                                            |                           |                             |          
|                                                                                            |                           | Total assets                |          
|                                                                                            |                           |                             |          
|LIABILITIES AND STOCKHOLDERS' EQUITY                                                        |                          
|Payable to related parties                                                                  |                           | 4,033,889                   |          
|Accruals and other current liabilities                                                      |                           | 12,754                      |          
|                                                                                            |                           |                             |          
|                                                                                            | Total current liabilities |                             | 4,046,643
|Long-term debt, related parties                                                             |                           | 7,217,155                   |          
|                                                                                            |                           |                             |          
|                                                                                            |                           | Total liabilities           |          
|                                                                                            |                           |                             |          
|Commitments and contingencies (Note 8)                                                      |                           |                            |          
|Common stock (£1 par value, 50,000 shares authorized, 17,500 shares issued and outstanding) |                           | 17,500                      |          
|Additional paid-in capital                                                                  |                           | 9,430,083                   |          
|Accumulated deficit                                                                         |                           | (19,986,987                 | )        
|                                                                                            |                           |                             |          
|                                                                                            |                           | Total stockholders' deficit |          
|                                                                                            |                           |                             |          
|Total Liablities and stockholders' deficit                                                  |                           | 724,394                     |          
|                                                                                            |                           |                             |          

The
accompanying notes are an integral part of these financial statements.

3

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Enterstand Limited        Statement of Cash Flows        For the Year Ended December 31, 2000

|                                      |                                                                                          | £                         |                                          
|------------------------------------- | ---------------------------------------------------------------------------------------- | ------------------------- | -----------------------------------------
|Operating activities:                 |                                                                                          |                           |                                          
|                                      | Net income (loss)                                                                        |                           | (11,660,385                              
|                                      | Adjustments to reconcile net income (loss) to net cash provided by operating activities: |                           |                                          
|                                      | Depreciation and amortization of property and equipment                                  |                           | 979,885                                  
|                                      | Impairment of property and equipment                                                     |                           | 484,708                                  
|                                      | Write-off of investment in CCC Pathways Espana                                           |                           | 149,920                                  
|                                      | Exchange rate losses                                                                     |                           | 431,862                                  
|                                      | Other, net                                                                               |                           | 14,400                                   
|                                      | Changes in operating assets and operating liabilities:                                   |                           |                                          
|                                      |                                                                                          | Related party receivables |                                          
|                                      |                                                                                          | Other receivables         |                                          
|                                      |                                                                                          | Related party payables    |                                          
|                                      |                                                                                          | Other current liabilities |                                          
|                                      |                                                                                          |                           |                                          
|                                      |                                                                                          |                           | Net cash used in operating activities    
|                                      |                                                                                          |                           |                                          
|Cash flows from investing activities: |                                                                                          |                           |                                          
|                                      | Capital expenditures                                                                     |                           | (520,316                                 
|                                      | Investment in CCC Pathways Espana                                                        |                           | (149,920                                 
|                                      |                                                                                          |                           |                                          
|                                      |                                                                                          |                           | Net cash used in investing activities    
|                                      |                                                                                          |                           |                                          
|Cash flows from financing activities: |                                                                                          |                           |                                          
|                                      | Proceeds from long-term debt, related parties                                            |                           | 6,799,971                                
|                                      | Proceeds from sale of common stock                                                       |                           | 3,474,635                                
|                                      |                                                                                          |                           |                                          
|                                      |                                                                                          |                           | Net cash provided by financing activities
|                                      |                                                                                          |                           |                                          
|Net decrease in cash                  |                                                                                          | (280,494                  | )                                        
|Cash and cash equivalents:            |                                                                                          |                           |                                          
|                                      | Beginning of year                                                                        |                           | 280,612                                  
|                                      |                                                                                          |                           |                                          
|                                      | End of year                                                                              |                           | 118                                      
|                                      |                                                                                          |                           |                                          

The
accompanying notes are an integral part of these financial statements.

4

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Enterstand Limited        Statement of Stockholders' Deficit and Comprehensive Loss        For the Year Ended December 31, 2000

|                                       |  | Outstanding
Common Stock |  |        |  |           |  |             |  
|-------------------------------------- |  | ------------------------ |  | ------ |  | --------- |  | ----------- | -
|
|December 31, 1999                      |  | 10,000                   |  | 10,000 |  | 5,962,948 |  | (8,326,602  | )
|Proceeds from issuance of common stock |  | 7,500                    |  | 7,500  |  | 3,467,135 |  |            |  
|Net loss and comprehensive loss        |  |                         |  |       |  |          |  | (11,660,385 | )
|                                       |  |                          |  |        |  |           |  |             |  
|December 31, 2000                      |  | 17,500                   |  | 17,500 |  | 9,430,083 |  | (19,986,987 | )
|                                       |  |                          |  |        |  |           |  |             |  

The
accompanying notes are an integral part of these financial statements.

5

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Enterstand Limited        Notes to the Financial Statements        For the Year Ended December 31, 2000

1.  Nature of operations and business conditions



2.  Significant accounting policies



Computer software

2 yearsComputer hardware

3 yearsOffice furniture and equipment

5 years




6

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7

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3.  Fixed assets



£Computer equipment

1,526,543Office furniture and equipment

22,9441,549,487Accumulated depreciation

(1,438,643
)110,844




4.  Investments



5.  Related parties



8

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6.  Long-term debt, related parties



£Due to CCC Information Services Inc.

6,134,582Due to Hearst Communications, Inc.

1,082,573Total long-term debt, related parties

7,217,155




7.  Common stock



8.  Commitments and contingencies



9

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10

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