<<Schaffer Letter.DOC>>   <<titan-schaffer memorandum of option.WPD>>
<<REDLINED OPTION TO PURCHASE-SCHFFER.DOC>>   <<Titan-Schaeffer Option.DOC>>



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For more information about Piper Marbury Rudnick & Wolfe, please visit us at 
http://www.piperrudnick.com/
____________________________________________________________________________

 - Schaffer Letter.DOC
 - titan-schaffer memorandum of option.WPD
 - REDLINED OPTION TO PURCHASE-SCHFFER.DOC
 - Titan-Schaeffer Option.DOC