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penetration rates have reached relatively saturated levels. As a result, the focus of market growth has turned to emerging markets in regions within the Asia-Pacific, where low penetration rates and pent-up demand for network connectivity bode well for new subscriber acquisitions. According to Datamonitor, as of
ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV
penetration rates have reached relatively saturated levels. As a result, the focus of market growth has turned to emerging markets in regions within the Asia-Pacific, where low penetration rates and pent-up demand for network connectivity bode well for new subscriber acquisitions. According to Datamonitor, as of
ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV
penetration rates have reached relatively saturated levels. As a result, the focus of market growth has turned to emerging markets in regions within the Asia-Pacific, where low penetration rates and pent-up demand for network connectivity bode well for new subscriber acquisitions. According to Datamonitor, as of
ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV
Entities connected to both the Asia-Pacific and Limiting Conditions

George W. Bush
PERSONLeon Black
PERSON
Scarlett Johansson
PERSON
Bloomberg L.P.
ORGANIZATION
Joi Ito
PERSON
Michael Jackson
PERSONDoug Band
PERSON
Mao Zedong
PERSON
Eric Trump
PERSON
Palantir
ORGANIZATION
Emory
ORGANIZATION
McGraw-Hill
ORGANIZATIONJulie
PERSON
Hardiman
PERSON
Federal Reserve
ORGANIZATIONTatum
PERSON
Anita
PERSON
the Board of Directors
ORGANIZATIONHewlett-Packard Company
ORGANIZATION