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ncwally

12/14/10 7:46 PM

#231119 RE: Krombacher #231104

Doesn't ERHE have a non trade policy for employees,directors, etc.
maybe trading on the open market wasn't an option. Just asking.

"BLACK OUT" PERIODS

A "black out" period is a period during which you may not execute transactions in Company securities. Please bear in mind that even if a black out period is not in effect, at no time may you trade in Company securities if you are aware of material, nonpublic information about the Company. For example, if the Company releases its quarterly financial results and you are aware of other material, nonpublic information not disclosed in the financial results, you may not trade in Company securities.