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XBRL Rule Approved

December 23, 2008
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On December 17, the SEC voted to require the use of XBRL. The final rule requires accelerated filers with public float greater than $5 billion to file using XBRL beginning the first quarter ended after June 15, 2009. Remaining accelerated filers will be required to file using XBRL in 2010 and all other public filers will be required to file using XBRL in 2011. Foreign Private Issuers using IFRS will also be required to file with XBRL in 2011.

In the first year of XBRL filing, companies will be required to detail tag the financial statements and block tag the financial statement footnotes and supplemental schedules. In the second year of XBRL filing, companies will be required to detail tag the financial statements, financial statement footnotes and supplemental schedules.

The other noteworthy aspect of the XBRL rule is that the limited liability originally proposed will be phased out by 2011 making future XBRL filings subject to all security laws at that time.

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