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Financial Feasibility Report
Demo Company
LBO Scenario #1a, Case 1
(Dollars and Shares in Thousands, Except Per Share Amounts)

  Actual   Forecast   Forecast
 12 Months
12/31/96		  12 Months
12/31/97		  12 Months
12/31/98		  12 Months
12/31/99		  3 Months
03/31/00		  12 Months
12/31/00		  12 Months
12/31/01		  12 Months
12/31/02		  12 Months
12/31/03		  12 Months
12/31/04		  
 
1. EBITDA$5,493  $5,450  $6,120  $8,697  $1,936  $10,107  $11,871  $14,326  $17,344  $21,143 
                   
2. EBITDA Coverage of Total Interest Expense15.13  3.74  3.42  4.06  4.95  5.70  1.50  1.87  2.32  2.96 
                   
3. EBITDA Coverage of Required Debt Service5.41  0.84  1.73  1.95  0.71  2.46  1.21  1.50  1.85  2.34 
                   
4. Estimated Gross Amount of Senior Debt Available$10,191  $11,484  $11,743  $13,806  $13,647  $15,982  $19,927  $22,673  $25,791  $29,351 
                   
5. Senior Debt Outstanding$3,639  $19,791  $19,220  $19,723  $19,723  $19,713  $12,681  $11,673  $8,951  $58,651 
                   
6. Estimated Net Amount of Senior Debt Available$6,552  $(8,307)  $(7,477)  $(5,917)  $(6,076)  $(3,731)  $7,246  $11,000  $16,840  $(29,300)