USE OF EMAIL TO BORROW STOCK AT TRADE MANAGE CAPITAL, Inc. Trade Manage Capital, Inc. supports the limited and conditional use of email to transmit electronic orders to its' trading desks. The follow are the guidelines for the use of email to transmit short borrow requests to Trade Manage. Guidelines for sending live orders can be found at http://www.trademanage.com/forms/liveorders.txt Trade Manage Capital, Inc. supports email on the following conditions: Pre-Market (must be transmitted before 09:28:00 est.): - market & limit orders, as well stop & stop-limit orders. - Short borrow requests During market hours: - Stop orders where the stop qualifier is at least 1 point away from the current inside market; - Limit orders where the limit qualifier is at least 1 point away from the current inside market; - stop & limit combo orders where the stop & limit qualifiers are at least 1 point away from the current inside market We do not regularly accept market orders during market hours. If you send a market order during the market hours, your order will be executed upon receipt. Acknowledgement ("ACK") of Orders: Once we have received your order, we will acknowledge it. During our hours of operation, this "ACK" should be received within minutes. Messages sent during the evening will be acknowledged in the morning. If you do not receive an ACK response, you must contact us immediately to verify the orders' receipt. Email Address: Send all live orders to the following address: To: orders@trademanage.com Cc: orders1@trademanage.com Cc: orders2@trademanage.com ::::::::Template for short borrows starts here::::::::::::::::::: To: orders@trademanage.com cc: orders1@trademanage.com orders2@trademanage.com Subject: Short Inventory Borrows for Trade Date DD/MM -------------------------------------------------------- Please borrow for shorting purposes, for the day, the following stocks: 2000 ABCD 1000 FOIL 800 LL This is not an order, simply a request to borrow the stocks. Name: Steve Smith Phone: XXX-XXX-XXXX Email: steve@smith.com By your use of email to transmit orders to Trade Manage Capital, Inc., you hereby waive all liability and agree to hold Trade Manage Capital, Inc. harmless for any loss or damages as a result of your use of such email. ::::::::Template for short borrows ends here:::::::::::::::::::