Q2 Expense Variances

Impact on Margin

• Professional fees ~ 150 bps

  • Sarbanes-Oxley ~ 80 bps
  • Shared Services ~ 40 bps
  • Other Services ~ 30 bps
    

• Expenses related to prior

acquisitions accounted for as

compensation ~ 70 bps

• Currency and out-of-pocket ~ 10 bps

Q2 ‘04 Summary

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