Action Economics, LLC was founded in 2003 and offers premium intra-day commentary for the fixed income and currency markets. The product features a wide range of fundamental and technical analysis of key market instruments laid out in a web-based format that is clear, and easy to navigate. As an alternative, portions of Action Economics products are available via email.

Our team of economists delivers in-depth analysis of all relevant economic data releases. Along with our own forecasts, we offer incisive previews of upcoming releases, followed by timely reviews of the numbers. Extensive use of charts and tables give the reader a quick and precise picture of the data, while our analysis highlights both the immediate impact on the markets as well as the longer run implications for the economy, the Fed, and interest rates. Comprehensive data calendars are coupled with a daily events log to keep traders alerted to market moving events. In addition, we offer in-depth analysis of global central bank developments, alongside global weekly economic surveys that gauge consensus thinking in the major markets.

Our fixed income and foreign exchange analysts provide up to the minute insight into forces impacting the markets. Using an extensive list of market contacts, flow information is reported rapidly to keep traders one step ahead of the herd. Market analysis also taps into the cross-market relationships between bonds, currencies, equities, and commodities, providing our readers with a complete trading picture. In addition to reporting current conditions, our analysts provide forward-looking insight, allowing our customers to identify fresh trading strategies.

Our complete web package can be found at www.actioneconomics.com

Action Economics email offerings are as follows:

PRINCIPAL ANALYST

Action Economics is fortunate to have one of the most experienced and respected U.S. economics teams in the financial markets, with a combined 80 years covering the U.S. economy and markets. The economics team consists of trained economists with market experience, including former members of the IMF, Federal Reserve and the Commerce Department. The principal analysts are:

Principal Director and Chief Economist: Michael R. Englund

Mike founded the company in 2003. Previously, he was the Chief Economist for MMS International, where he worked for over twenty years, pioneering the early stages of the real-time commentary industry. For just over a decade ending in 2002, MMS International was owned by Standard & Poor's, where Mike held the title of Chief Market Economist for Standard and Poor's, and where he served on the Standard and Poor's Forecast Council. Dr. Englund has a Ph.D. in economics and an M.A. in statistics from the University of California at Berkeley. He also spent a year studying at the London School of Economics, and has a B.A. in economics from Middlebury College. In addition, Mike previously was on the Board of Directors for the National Association of Business Economics, was Chair of the NABE Financial Roundtable, and was President of the San Francisco Chapter of the NABE.

Managing Director, Global Fixed Income Analysis: Kim A. Rupert

Kim joined Mike in founding the company in 2003. Previously she was Senior Economist and Managing Director of Treasury Market analysis for MMS International. She joined MMS International as a Fedwatcher and Treasury market analyst in 1982 and helped develop MMS's Weekly Survey, which became widely followed as the "market consensus." With over 20 years experience in analyzing the markets and Fedwatching, Kim's views have been cited in numerous publications and newswires, including in the New York Times, WSJ, Business Week, Bloomberg, Reuters, and Dow Jones Telerate. She has also appeared on CNNfn and Reuters TV. Kim earned her B.S. in economics from Santa Clara University and attended graduate school in economics at the University of Virginia. She was also adjunct professor of economics at Santa Clara University.

Managing Director, Global Currency Analysis: Ronald D. Simpson

Ron has been with the company since its inception. Previously, Ron was the Managing Currency Analyst, Americas, for MMS International, where he oversaw fundamental foreign exchange commentary and strategy. As a currency market analyst, Ron has been cited by numerous publications and news services, including the Wall Street Journal and the New York Times. Prior to entering the field of market analysis, his career in foreign exchange spanned 15 years, where he worked for several international banks as an active G7 currency market-maker and proprietary trader, based both in New York, and in Continental Europe. Ron graduated from Canada's Bishop's University, with a B.A. in finance.

Managing Director, Europe and Asia for Action Economics: Jonathan Coughtrey

Jonathan joined the company in 2004. Previously he was Global Currency Product Manager for MMS International and spent five years in Asia as Managing Currency Analyst, Asia-Pacific for Standard and Poor's MMS. He was a member of the team that saw MMS win FX Week's "Best Screen Based Analytical Service" award for eight consecutive years. Jonathan has contributed research to Business Week Online, appeared on CNN and has been cited by the FT and New York Times among other publications and news services. He studied in the U.K., at Kingston Polytechnic, and in the U.S., at the University of North Carolina, and holds a B.A. Honours degree in economics.

Action Economics commentary is available as a complete package over the web, at www.actioneconomics.com, or can be purchased through a variety of email based offerings.

In addition, Action Economics' content can be customized and licenced for co-branded or white label websites or email products.

Access to www.ActionEconomics.com with complimentary emails is $350/mth

ActionAm email only is $150/mth

ActionAlert email only is $150/mth

ActionWeekly email only is $50/mth

Corporate Subscriptions are discounted based on total number of users. Site licenses as well as Enterprise licenses are also available. Quotes provided on request.

Contact your CAPIS salesperson at 800.247.6729 or 214.720.0055, or contact Action Economies:

Internet: www.actioneconomics.com

Action Economics, LLC

5665 Pennsylvania Place

Boulder, CO 80303-2953

E-mail: support@actioneconomics.com

In the U.S.:

Betsy Wooten +1 650-556-9594

In Canada:

Manon Amyot-Lake +1 905 839 6611

In Europe and Asia:

Jonathan Coughtrey + 44 20 3239 6804

In Japan:

Hideki Naito +81 3-3560-2536