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			ArbitrageView-10 Index  (AV10)
			Merger Arbitrage Index
			Index Value:	94.56
			Trade Time:	9-May
			Prev Close	95.58
			Change:	(1.02)
			% Change	-1.07%
			YTD % Change	-5.44%
			ArbitrageView 10 Index™ – AV10
			AV10 is a proprietary benchmark index designed by ArbitrageView.com. The
			index is designed to track the performance of a merger arbitrage (risk arbitrage)
			investment strategy. The index is composed of equally weighted positions in the
			top 10 largest pending merger deals in the U.S. markets. The holdings are
			selected based on the size of the deals and may exclude any deals with low
			implied probability of potential deal completion.  Depending on the acquisition’s
			type the index may hold short positions in the acquiring companies’ stocks. The
			ArbitrageView 10 Index is in beta testing mode. The effective date of the index is
			January 1st, 2008.
			For licensing inquiries or general questions please contact
			info@arbitrageview.com
			List of deals included in the AV10 Index as of  01/28/2008
			TARGET		ACQUIRER
			Name		Name
			Countrywide Financial		Bank of America
			Clear Channel Communications Inc.		Bain Capital Partners, LLC
			XM Satellite Radio		SIRIUS Satellite Radio
			Penn National Gaming		Fortress Investment Grp.
			Huntsman		Apollo Management
			Navteq		Nokia
			Grant Prideco		National Oilwell Varco
			Trane Inc.		Ingersoll-Rand Co
			Respironics		Royal Philips Electronics
			BEA Systems		Oracle
This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities.
At anytime AV's affiliates may maintain long or short positions in the securities lised in this report. The information contained in the report
is not guaranteed by ArbitrageView.com to be accurate and should not considered to be all-inclusive.