<Page>
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: ) DEBTOR IN POSSESSION OPERATING REPORT
)
SN INSURANCE ADMINISTRATORS ) REPORT NUMBER 13 Page 1 of 3
) FOR THE PERIOD FROM: 01-Apr-01
DEBTOR ) TO: 30-Apr-01
)
CHAPTER 11 CASE NO. SV00-14099-GM )
1. PROFIT AND LOSS STATEMENT PLEASE SEE ATTACHED SCHEDULE A
A. Related to Business Operations:
Gross Sales ___________
Less Sales Returns and Discounts ___________
Net Sales ___________
Less: Cost of Goods Sold
Beginning Inventory at Cost ___________
Add: Purchases ___________
Less: Ending Inventory at Cost ___________
Cost of Goods Sold ___________
Gross Profit ___________
Other Operating Revenue (Specify) ___________
Less: Operating Expenses
Officer Compensation ___________
Salaries & Wages-Other Employees ___________
Total Salaries & Wages ___________
Employee Benefits ___________
Payroll Taxes ___________
Real Estate Taxes ___________
Federal and State Income Taxes ___________
Total Taxes ___________
Rent and Lease Exp. (Real and
Personal Property) ___________
Interest Expense (Mortgage,
Loan, etc.) ___________
Insurance ___________
Automobile Expense ___________
Utilities (Gas, Electric, Water,
Telephone, etc.) ___________
Depreciation and Amortization ___________
Repairs and Maintenance ___________
Advertising ___________
Supplies, Office Expenses,
Photocopies, etc. ___________
Bad Debts ___________
Miscellaneous Operating Expenses
(Specify) ___________
Total Operating Expenses ___________
Net Gain/(Loss) from Business
Operations ___________
B. Not Related to Business Operations ___________
Income:
Interest Income ___________
Other Non-Operating Revenues
(Specify) ___________
Gross Proceeds on Sale of Assets ___________
Less: Original Cost of Assets
plus Expenses of Sale ___________
Net Gain/(Loss) on Sale of
Assets ___________
Total Non-Operating Income ___________
Expenses Not Related to Business
Operations:
Legal and Professional Fees ___________
Other Non-Operating Revenues
(Specify) ___________
Total Non-Operating Expenses ___________
NET INCOME/(LOSS) FOR PERIOD ===========
Revised April 1989 OPERATING REPORT UST-4
<Page>
DEBTOR IN POSSESSION OPERATING REPORT NO. 13
Page 2 of 3
2. Aging of Accounts Payable and Receivable (exclude pre-petition debt from
accounts payable):
<Table>
<Caption>
Accounts Payable Accounts Receivable
---------------- -------------------
Current Under 30 days $0 $0
Overdue 31-60 days $0 $0
Overdue 61-90 days PLEASE SEE ATTACHED SCHEDULE B
Overdue 91-120 days $0 $0
Overdue 121 + days $0 $0
Total
</Table>
3. Statement of Status of Payments to Secured Creditors and Lessors:
<Table>
<Caption>
Post-Petition
Frequency of Payments Not Made
Payments per Amount of -----------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
- --------------- -------------- ------------ ---------------- ------ ------
SEE ATTACHED SCHEDULE C
</Table>
4. Tax Liability:
Gross Payroll Expense For Period $40,098
Gross Sales for Period Subject to Sales Tax $0
<Table>
<Caption>
Post Petition Taxes
Date Paid Amount Paid* Still Owing
----------------- ------------ -------------------
Federal Payroll and Withholding Taxes 4/15/01 & 4/30/01 $11,448 0
State Payroll and Withholding Taxes 4/15/01 & 4/30/01 $1,360 0
State Sales and Use Tax N/A $0 N/A
Real Property Taxes N/A $0 N/A
</Table>
ALL PAYROLL TAXES PAID BY ADP
* Attach photocopies of depository receipts from taxing
authority or financial institution to verify that such
deposits or payments have been made.
5. Insurance Coverage
<Table>
<Caption>
Carrier/ Amount of Policy Premium Paid
Agent Coverage Exp. Date Thru Date
---------------------- --------- --------- -------------
Worker's Compensation SEE SCHEDULE D
Liability SEE SCHEDULE E
Fire and Extended Coverage SEE SCHEDULE E
Property SEE SCHEDULE E
Theft SEE SCHEDULE E
Life (Beneficiary:__________) SEE SCHEDULE E
Vehicle SEE SCHEDULE E
Other SEE SCHEDULE E
</Table>
<Page>
DEBTOR IN POSSESSION OPERATING REPORT NO. 13
Page 3 of 3
6. Questions:
A. Has the Debtor provided to any officers, directors, shareholders, or
other principals compensation without the approval of the Office of the
Unites States Trustee?
-----: Yes Explain:
--------------------------------------------
X : No
-----
B. Has the Debtor, subsequent to the filing of the petition made any payments
on its pre-petition unsecured debt, except as have been authorized by the
Court?
-----: Yes Explain:
--------------------------------------------
X : No
-----
7. Statement of Unpaid Professional Fees (Post-Petition Only):
<Table>
<Caption>
Type Post-Petition
Name of Professional Professional Unpaid Total
-------------------- ------------ -------------
SEE SCHEDULE F
</Table>
8. Narrative Report of Significant Events And Events Out Of The Ordinary Course
Of Business:
9. Quarterly Fees: (This Fee must be paid to the Unites States Trustee every
calendar quarter)
<Table>
<Caption>
Quarterly
Quarterly Disbursements Quarterly Quarterly
Period Ending for Quarter Fee Date Paid Amount Paid Check No. Fee Still Owing
- ------------- ----------- --- --------- ----------- --------- ---------------
3/31/2001 $132,485.00 $750.00 4/23/2001 $750.00 1129 $750.00
</Table>
I, Alex Corbett-Chief Financial Officer, declare under penalty of perjury
that the information contained in the above Debtor in Possession Operating
Report is true and complete to the best of my knowledge.
Dated: 6/15/01 Signed: /s/ Alex Corbett
----------------------- -----------------------------------
<Page>
SCHEDULE A
SNIG, BIG, SNIA and SNIS
SCHEDULE OF OPERATIONS
ONE MONTH ENDED APRIL 30, 2001
(BANKRUPTCY FILED APRIL 26, 2000)
(UNAUDITED)
<Table>
<Caption>
(In thousands) CONSOLIDATED
SNIG BIG SNIA SNIS ELIMINATION TOTAL
----------- ----------- ----------- ----------- ------------- --------------
Revenues:
Commission income $ -- $ -- $ -- $ 10 $ -- $ 10
Net investment income 6 (7) 2 69 -- 70
----------- ----------- ----------- ----------- ------------- --------------
TOTAL REVENUES 6 (7) 2 79 -- 80
----------- ----------- ----------- ----------- ------------- --------------
Expenses:
Interest expense 925 -- -- -- -- 925
Bad debt expense -- -- -- (A) 9 (A) -- 9
General and administrative
Other (3) 25 105 517 -- 644
----------- ----------- ----------- ----------- ------------- --------------
TOTAL EXPENSES 922 25 105 526 -- 1,578
----------- ----------- ----------- ----------- ------------- --------------
INCOME (LOSS) BEFORE INCOME TAXES AND PREFERRED
SECURITIES DIVIDENDS AND ACCRETION (916) (32) (103) (447) -- (1,498)
Income tax (benefit) expense (1) -- -- -- -- (1)
----------- ----------- ----------- ----------- ------------- --------------
INCOME (LOSS) BEFORE PREFERRED SECURITIES
DIVIDENDS AND ACCRETION (915) (32) (103) (447) -- (1,497)
Preferred securities dividends and accretion (1,092) -- -- -- -- (1,092)
Expenses not related to business operations:
Legal and Professional Fees (5) -- -- -- -- (5)
Other non-operating expenses -- -- (1) -- -- (1)
----------- ----------- ----------- ----------- ------------- --------------
(2,012) (32) (104) (447) -- (2,595)
Equity in net income (loss) from subsidiaries (584) (552) -- -- 1,135 (1)
----------- ----------- ----------- ----------- ------------- --------------
NET (LOSS) INCOME $ (2,596) $ (584) $ (104) $ (447) $ 1,135 $ (2,596)
=========== =========== =========== =========== ============= ==============
</Table>
(A) Amount reflects a recording of an allowance for bad debt on collection of
commissions receivable. Debtor continues to assert rights of offset and
other methods to effectuate collection.
SCHEDULE B
SUPERIOR NATIONAL INSURANCE GROUP, INC. IN BANKRUPTCY
AGING OF ACCOUNTS PAYABLE AND RECEIVABLE
AS OF APRIL 30, 2001
<Table>
<Caption>
SUPERIOR NATIONAL INSURANCE GROUP
NON-INTERCOMPANY ACCOUNTS INTERCOMPANY ACCOUNTS
-------------------------------------- -------------------------------------
ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE
---------------- ------------------- ---------------- -------------------
Current Under 30 days 343,387 -- -- 309,736
Overdue 31 - 60 days 45,478 -- -- 292,129
Overdue 61 - 90 days 670,102 15,000 -- 1,043,941
Overdue 91 - 120 days (636) -- -- 815,965
Overdue 121 + days 560,204 129,553 5,237,080 824,206 (D)
---------------- ------------------- ---------------- -------------------
Total $ 1,618,535 $ 144,553 (A) $ 5,237,080 $ 3,285,977
---------------- ------------------- ---------------- -------------------
BUSINESS INSURANCE GROUP
NON-INTERCOMPANY ACCOUNTS INTERCOMPANY ACCOUNTS
-------------------------------------- -------------------------------------
ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE
---------------- ------------------- ---------------- -------------------
Current Under 30 days -- -- -- --
Overdue 31 - 60 days -- -- -- --
Overdue 61 - 90 days -- -- 11,000 --
Overdue 91 - 120 days -- -- 11,000 --
Overdue 121 + days -- 601,265 -- 20,200,934 (D)
---------------- ------------------- ---------------- -------------------
Total $ -- $ 601,265 $ 22,000 $ 20,200,934
---------------- ------------------- ---------------- -------------------
SUPERIOR NATIONAL INSURANCE SERVICES
NON-INTERCOMPANY ACCOUNTS INTERCOMPANY ACCOUNTS
-------------------------------------- -------------------------------------
ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE
---------------- ------------------- ---------------- -------------------
Current Under 30 days 183,258 52,553 253,062 885
Overdue 31 - 60 days 5,206 23,810 241,850 885
Overdue 61 - 90 days 10,839 56,312 848,208 12,081
Overdue 91 - 120 days 49,323 74,161 634,067 12,491
Overdue 121 + days 845,379 11,940,916 (0) 711,145
---------------- ------------------- ---------------- -------------------
Total $ 1,094,005 $ 12,147,753 (B) $ 1,977,187 $ 737,487
---------------- ------------------- ---------------- -------------------
SUPERIOR NATIONAL INSURANCE GROUP ADMINISTRATORS
NON-INTERCOMPANY ACCOUNTS INTERCOMPANY ACCOUNTS
-------------------------------------- -------------------------------------
ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE
---------------- ------------------- ---------------- -------------------
Current Under 30 days 62,482 -- 57,560 --
Overdue 31 - 60 days -- -- 51,164 --
Overdue 61 - 90 days (0) -- 196,814 --
Overdue 91 - 120 days -- -- 183,388 --
Overdue 121 + days 89,789 6,385,900 1,207,288 98,383
---------------- ------------------- ---------------- -------------------
Total $ 152,271 $ 6,385,900 (C) $ 1,696,214 $ 98,383
---------------- ------------------- ---------------- -------------------
CONSOLIDATED
NON-INTERCOMPANY ACCOUNTS INTERCOMPANY ACCOUNTS
-------------------------------------- -------------------------------------
ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE
---------------- ------------------- ---------------- -------------------
Current Under 30 days 589,127 52,553 310,622 310,621
Overdue 31 - 60 days 50,683 23,810 293,014 293,014
Overdue 61 - 90 days 680,941 71,312 1,056,022 1,056,022
Overdue 91 - 120 days 48,688 74,161 828,456 828,456
Overdue 121 + days 1,495,371 19,057,635 6,444,368 21,834,668
---------------- ------------------- ---------------- -------------------
Total $ 2,864,811 $ 19,279,471 $ 8,932,481 $ 24,322,781
---------------- ------------------- ---------------- -------------------
</Table>
(A) Amounts in accounts payable do not include interest due and accrued on
bank loan and Trust Preferred Securities.
(B) Amounts shown in accounts receivable do not include recorded amounts on
allowance for bad debt on collection of commissions receivable, in
which the Debtor continues to assert rights of offset and other methods
to effectuate collection.
(C) Amounts shown in accounts receivable do not include recorded amounts on
allowance for bad debt on collection of claims administration fee, in
which the Debtor continues to assert rights of offset and other methods
to effectuate collection.
(D) Amounts include a payment of $5.4 million pursuant to an Order
Authorizing Release of Escrowed Funds to the Bank Group Pursuant to
Stipulation dated November 9, 2000. The $5.4 million was paid from BIG
for interest expense accrued on SNIG.
<Page>
SCHEDULE C
APRIL 30, 2001
SNIG
3. Statement of Status of Payments to Secured Creditors and Lessors:
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------------------
Post-Petition
Frequency of Payments Not Made
Payments per Amount of ------------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
- ----------------------------------------------------------------------------------------------------------------------------------
Dell Financial Services Monthly $ 8,931.85 12/20/2000 SEE NOTE A
IKON Office Solutions, Inc. / IOS Capital Monthly $ 1,395.65 11/23/00, 11/15/00 SEE NOTE A
Pitney Bowes Credit Corp. Monthly $ 4,810.67 12/10/00, 12/20/00, 12/1/00 SEE NOTE A
Pitney Bowes Credit Corp. Quarterly $ 7,394.15 12/10/00, 11/10/00 SEE NOTE A
Stringer business Systems Inc. Monthly $ 2,163.51* 12/1/2000 SEE NOTE A
12/24/00, 12/6/00, 12/11/00,
Toshiba American Information Sys. Monthly $ 8,170.39 12/1/00, 12/18/00 SEE NOTE A
- ---------------------------------------------------------------------------------------------------------------------------------
</Table>
Amounts above do not include bank loan in default, which are partially
secured by stock of Superior National Insurance Group, Inc. and its
subsidiaries.
* MONTHLY PAYMENT IS BASED ON NUMBER OF COPIES MADE FOR THE PREVIOUS MONTH,
THEREFORE PAYMENT VARIES EACH MONTH.
NOTE A: THESE LEASES WERE WITHDRAWN FROM THE MOTION FILED ON JANUARY 19,
2001 BASED UPON THE REPRESENTATION THAT THE CLO WILL REMAIN CURRENT
ON ALL MONETARY OBLIGATIONS UNDER THE LEASES UNTIL THE DEBTORS RECEIVE
INSTRUCTION FROM THE CLO ON THE ASSUMPTION OR REJECTION OF THESE
LEASES BY JULY 11, 2001.
BIG
3. Statement of Status of Payments to Secured Creditors and Lessors:
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------------------
Post-Petition
Frequency of Payments Not Made
Payments per Amount of ------------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
- ----------------------------------------------------------------------------------------------------------------------------------
Dell Financial Services Monthly $ 52,321.29 12/15/2000 SEE NOTE A
- ----------------------------------------------------------------------------------------------------------------------------------
</Table>
Amounts above do not include bank loan in default, which are partially
secured by stock of Superior National Insurance Group, Inc. and its
subsidiaries.
NOTE A: THIS LEASE WAS WITHDRAWN FROM THE MOTION FILED ON JANUARY 19, 2001
BASED UPON THE REPRESENTATION THAT THE CLO WILL REMAIN CURRENT ON ALL
MONETARY OBLIGATIONS UNDER THE LEASE UNTIL THE DEBTORS RECEIVE
INSTRUCTION FROM THE CLO ON THE ASSUMPTION OF REJECTION OF THESE
LEASES BY JULY 11, 2001.
SNIA
3. Statements of Status of Payments to Secured Creditors and Lessors:
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------------------
Post-Petition
Frequency of Payments Not Made
Payments per Amount of ------------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
- ----------------------------------------------------------------------------------------------------------------------------------
NONE
- ----------------------------------------------------------------------------------------------------------------------------------
</Table>
Amounts above do not include bank loan in default, which are partially
secured by stock of Superior National Insurance Group, Inc. and its
subsidiaries.
SNIS
3. Statement of Status of Payments to Secured Creditors and Lessors:
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------------------
Post-Petition
Frequency of Payments Not Made
Payments per Amount of ------------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
- ----------------------------------------------------------------------------------------------------------------------------------
NONE
- ----------------------------------------------------------------------------------------------------------------------------------
</Table>
Amounts above do not include bank loan in default, which are partially
secured by stock of Superior National Insurance Group, Inc. and its
subsidiaries.
<Page>
SCHEDULE D
Superior National Insurance Group, Inc. in Bankruptcy
Debtor in Possession
Insurance Coverage
As of April 30, 2001
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------------------
Amount of Policy Premium Paid
State Carrier Agent Coverage Exp. Date Thru Date
- ----------------------------------------------------------------------------------------------------------------------------------
Arizona Liberty Mutual Group Di Buduo & De Fendis Statutory 12-Jul-01 12-Jul-01
Arkansas Liberty Mutual Group Di Buduo & De Fendis Statutory 12-Jul-01 12-Jul-01
California State Compensation Insurance Fund Di Buduo & De Fendis Statutory 01-Jun-01 01-Jun-01
Colorado Pinnacol Assurance Di Buduo & De Fendis Statutory 01-Jun-01 01-Jun-01
Georgia Liberty Mutual Group Di Buduo & De Fendis Statutory 12-Jul-01 12-Jul-01
Illinois Liberty Mutual Group Di Buduo & De Fendis Statutory 12-Jul-01 12-Jul-01
Kansas Travelers Insurance Company Di Buduo & De Fendis Statutory 11-Aug-01 11-Aug-01
Missouri Travelers Property & Casualty Di Buduo & De Fendis Statutory 02-Jun-02 02-Jun-02
New Jersey Granite State Insurance Company Di Buduo & De Fendis Statutory 02-Jun-01 02-Jun-01
Oklahoma State Insurance Fund Di Buduo & De Fendis Statutory 15-Nov-01 15-Nov-01
Pennsylvania State Workrmen's Insurance Fund Di Buduo & De Fendis Statutory 03-Jun-01 03-Jun-01
Texas Texas W/C Insurance Fund Di Buduo & De Fendis Statutory 18-Jul-01 18-Jul-01
Virgina Travelers Insurance Company Di Buduo & De Fendis Statutory 11-Aug-01 11-Aug-01
- ----------------------------------------------------------------------------------------------------------------------------------
</Table>
Note 1: The polices for Florida, Indiana, Louisiana, New Mexico, New York,
Oregon, Tennessee, Utah, and Wisconsin were all requested to be cancelled in
December 2000.
Note 2: Within all of the policies identified above the following entities
are covered for Workers' Compensation: SNIG, BIG, SNIA, and SNIS.
Note 3: The polices for Arkansas, Arizona, Georgia, & Illinois are all
covered on one policy, which is inforce, even though AR & GA offices are
closed.
Note 4: A Virgina employee was added to the Kansas policy.
<Page>
APRIL 30, 2001 SCHEDULE E
<Table>
<Caption>
POLICY PREMIUM PAID
COMPANY AGENT TYPE OF INSURANCE AMOUNT OF COVERAGE EXP. DATE THRU DATE
- ------------ ------------------ ------------------------------------- -------------------------- ---------- ------------
SNIG, BIG, DiBudio & DeFendis COMMERCIAL GENERAL LIABILITY PACKAGE
SNIS, & SNIA General Liability $1 million per occurrence 11/13/2001 11/13/2001
$2 million aggregate
Advertising injury excluded
Employee Benefit Liability $1 million per claim
$1 million aggregate
SNIG, BIG, DiBudio & DeFendis AUTOMOBILE (NON-OWNED)
SNIS, & SNIA Liability $1 million 11/13/2001 11/13/2001
Physical Damage/Comp/Collision $30,000
$100 deductible comp/$250
collision
SNIG, BIG, Carpenter Moore DIRECTORS & OFFICERS (RUN-OFF)
SNIS, & SNIA Reliance $5,000,000 5/1/2003 5/1/2003
Lloyd's of London $5,000,000 xs $5,000,000
Gulf Insurance Company $10,000,000 xs $10,000,000
Executive Risk Indeminity $10,000,000 xs $20,000,000
Philadelphia Indemnity $10,000,000 xs $30,000,000
SNIG, BIG, DiBudio & DeFendis EMPLOYER PRACTICE LIABILITY (RUN OFF) $1 million per loss 12/10/2001 12/10/2001
SNIS, & SNIA EXTENDED REPORTING PERIOD & in the aggregate
SNIG, BIG, DiBudio & DeFendis EMPLOYER PRACTICE LIABILITY $1 million per loss 1/15/2002 1/15/2002
SNIS, & SNIA & in the aggregate
SNIG, BIG, DiBudio & DeFendis FIDUCIARY LIABILITY (RUN OFF) $5 million per loss 12/10/2001 12/10/2001
SNIS, & SNIA & in the aggregate
SNIG, BIG, DiBudio & DeFendis COMMERCIAL UMBRELLA $10 million per occurrence 11/13/2001 11/13/2001
SNIS, & SNIA Evanston Insurance Company $10 million aggregate
SNIG, BIG, DiBudio & DeFendis EXCESS LIABILITY $10 million per occurrence 11/13/2001 11/13/2001
SNIS, & SNIA $10 million aggregate
SNIG, BIG, DiBudio & DeFendis ACCIDENT POLICY (LIFE/TRAVEL) $1 million to $3 million 1/15/2002 1/15/2002
SNIS, & SNIA AIG (depends on rank of
officer)
SNIG, BIG, Andreini & Co ACCIDENT POLICY (LIFE/TRAVEL) $1 million to $3 million 12/31/2001 12/31/2001
SNIS, & SNIA Hartford $1.5 million aggregate
(all full-time employees)
BIG ONLY DiBudio & DeFendis PROFESSIONAL LIABILITY RUN OFF $10 million per loss 12/10/2004 12/10/2004
BIG COMPANIES ONLY/acts b/f 12-10-99 & in the aggregate
*$500,000 deductible
</Table>
<Page>
SCHEDULE F
APRIL 30, 2001
SNIG, BIG, SNIS, SNIA
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------
Type Post-Petition
Name of Professional Professional Unpaid Total
- ----------------------------------------------------------------------------------------------------------------------
Paul, Weiss, Rifkind, Wharton & Garrison Legal fees $ 64,009 NOTE C
Tillinghast-Towers, Perrin Actuaries $ -
Latham & Watkins Counsel for Official Committee of Unsecured Creditors $169,207 NOTE D
Steve Eldrige Tax consulting $ 5,333
Quinn Emanuel Urquhart Oliver & Hedges LLP Special litigation counsel $811,325 NOTE E
Tharpe & Howell Legal fees $ 165
Mannat Phelps Legal fees $ 29,606
KPMG Peat Marwick Audit & consulting fees $279,036 NOTE A
Christopher Maisel Facilitator fees $209,300 NOTE B
Riordan & McKinzie Corporate counsel $141,096 NOTE G
Pachulski, Stang, Ziehl, Young & Jones LLP General bankruptcy counsel $247,180 NOTE F
</Table>
NOTE A - Payments of $34,765, $22,949, and $12,493 were subsequently paid on
1/1/01, 1/20/01, and 3/19/01, respectively.
Additionally, $97,250 of fees and expenses were applied against the
retainer. The Bankruptcy Court approved $199,463.80 on 5/17/01, and
payment of $32,006.80 was made on 5/30/01.
NOTE B - Amount represents fees & expenses through February 28, 2001 and was
approved for payment by the Bankruptcy Court on 5/16/01. Amount was
subsequently paid on 5/16/01.
NOTE C - Amount approved for payment by the Bankruptcy Court on 5/16/01 and
was subsequently paid on 5/21/01. Approved amount includes a 20%
holdback.
NOTE D - $153,080.83 was approved for payment by the Bankruptcy Court on
5/16/01 and was subsequently paid on 5/21/01. Approved amount
includes a 20% holdback.
NOTE E - $644,848.41 was approved for payment by the Bankruptcy Court on
5/16/01 and was subsequently paid on 5/21/01. Approved amount
includes a 20% holdback.
NOTE F - Amount was approved for payment by the Bankruptcy Court on 5/16/01
and was subsequently paid on 5/30/01. Approved amount includes a 20%
holdback.
NOTE G - Amount was approved for payment by the Bankruptcy Court on 5/16/01.
Approved amount includes a 20% holdback. Payment was applied against
the retainer.