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Hi guys,

I just made the train. Someone buy Rob Walker a Coke, he drove me to Union
Station in the rain. I would not have made it if I had to hail a cab. He's
a good man.

Rob and Curt came by the office and spent a bit of time with them. Eric and
Hunter then say down with them.

In my conversation with Curt is was clear Vide is intended to do more than
be a shell company.

IPS is not at the size where they are being asked to subcontract to ensure
the USG has a healthy supply chain, so creatign Vide to do the computing is
needed to continue to service the USG at the same or increasing levels.

Vide will seem to be the place that houses all of the hardware and software
developers who will take ownership of the technology. Vide will service IPS
on IPS related work with technology and software support. So Curt is
thinking Vide will have 6-7 people, mostly software developers and hardware
support guys.

It was clear Curt and team are thinking that "new co" will be focused on the
"financial services" industry. With SWFs and Coporate being verticals that
Vide pursues independently or possible with other JV like partners (not
discussed, but a potential option for Vide.)

The opportunities in Australia seemed to be Vide opportunity, not
necessarily the New Co opportunity.

I mentioned to Curt that this whole topic will be teased out in the meeting
prep pack and will a great topic of conversation for Thursday.

The reality is Vide will be very challenged to get any traction beyond IPS
or our New Co with someone like us or hiring a consulting firm to help them
realize any vision.

I believe once we get the New Co going and have a clear scope around that,
it will consume their focus (other than supporting core IPS).

Eric & Hunter: what came out of your meeting with Curt and Rob?

Best,

Nei