SPEAKER INDEX    CONTENTS   INSERTS   
BACHUS           1     12     13     17     25     26     31     34     39  
                43     68     71     74     76     79     83     86     87  
BIGGERT         34     36     37     38     43     51  
CRAFT           45     76     78     80     85  
LEE             71     72     73     74     77     78     79     80     82  
LOVE            69     70  
MCENTEE         26     32     38  
RAHN            58     81     86  
SHERMAN         31     33     34  
SNYDER          66     68     69     70     72     73     76     82     87  
VAN DYKE        17     19     25     33     34     36     42  
VARTANIAN        7     13     35     40  
WINN            51     73     78     84  

CONTENTS    SPEAKERS   INSERTS   
STATEMENT OF THOMAS P. VARTANIAN, CHAIRMAN OF ELECTRONIC COMMERCE AND FINANCIAL SERVICES 
TRANSACTIONS GROUP, FRIED, FRANK, HARRIS, SHRIVER AND JACOBSON, WASHINGTON, DC
                                                                 PAGE     7

STATEMENT OF JAMES VAN DYKE, SENIOR ANALYST, JUPITER COMMUNICATIONS
                                                                 PAGE    17

STATEMENT OF ELLIOTT C. McENTEE, PRESIDENT AND CHIEF EXECUTIVE OFFICER, NACHA, THE ELECTRONIC 
PAYMENTS ASSOCIATION
                                                                 PAGE    26

STATEMENT OF GARY R. CRAFT, CFA, MANAGING DIRECTOR, EQUITY RESEARCH DEPARTMENT, DEUTSCHE BANC 
ALEX. BROWN
                                                                 PAGE    45

STATEMENT OF JANE K. WINN, PROFESSOR OF LAW, SOUTHERN METHODIST UNIVERSITY
                                                                 PAGE    51

STATEMENT OF RICHARD W. RAHN, ADJUNCT SCHOLAR, CATO INSTITUTE; SENIOR FELLOW, DISCOVERY INSTITUTE; 
CHAIRMAN, NOVECON FINANCIAL LTD.
                                                                 PAGE    58

STATEMENT OF JACKI SNYDER, MANAGER OF ELECTRONIC PAYMENTS, SUPERVALU, INC., ACCOMPANIED BY DEREK 
LOVE, CONCORDE EFS
                                                                 PAGE    65


INSERTS    SPEAKERS   CONTENTS   
NO INSERTS IN THIS HEARING