Dear PIRA Client:

Our Europe and Japan Economy presentations on PIRA Online have recently
been updated with the latest available data. These charts illustrate
trends in key regional economic indicators. They are maintained on PIRA
Online as a courtesy to our retainer clients.

You can access these presentations via PIRA Online (www.pira.com) by
logging in and, from the Client Home page, choosing a topic from the
"Macro Data" drop-down menu at the top of the screen.

If you need a user name and password for PIRA Online, or if you need
help logging in, please contact Dyana Rothman at (212) 686-6808, email:
support@pira.com.

PIRA Energy Group