6/9/2000

DEAR ROY ABELL,

  Thank you for the opportunity to represent you on the valuation of your domain name.  With over four years of industry experience and our proprietary appraisal approach, we are confident this certified report will provide significant value to your domain property.

  With the domain name industry still in its infancy, experts are scrambling to determine how best to value a domain name.  What they agree upon are a few basic sets of rules for making realistic evaluations.  In this report, we have provided a detailed report highlighting the multiple facets affecting the value of your unique domain property. 

  We have prepared this report for ROY ABELL. The intended use of this domain name appraisal is to assist in the analysis of TEST.NET for valuation purposes only.  In preparing this report, we have utilized statistics and analysis tools from their proprietary appraisal valuation model, detailed in the enclosed report. 

  A qualified appraiser prepared this report.  Our qualifications for evaluating domain names is based on several key factors including 1) over four years of industry experience buying, selling, and appraising domain properties 2) the highest average selling price in the domain brokerage business and 3) one of the largest privately owned inventories of premier domain properties.  In addition, we utilize a vast database of industry information that has been accumulated over the past four years. 

  The final analysis has taken into consideration all-relevant information we believe is pertinent to develop an accurate assessment of the TEST.NET market value.  We are confident that this appraisal will give the owner as well as prospective buyers an accurate and professional appraisal based on the most current market data available in the domain industry.

  As a result of our analysis, it is our professional opinion that the market value of TEST.NET should be set at a minimum of $104,579.00.

  Again, thank you for the opportunity to appraise your domain property.  If you or any one interested in buying this domain property has any questions about this analysis please contact us. 

Sincerely,

President