Most importantly of all, Bruce has built a talented and complete leadership team capable of executing our long-term vision, with a focus on delivering value to our shareholders.

To grasp and hold a vision, that is the very essence of successful leadership - not only on the movie set where I learned it, but everywhere.

A vision we give to others of who and what they could become has power when it echoes what the spirit has already spoken into their souls.

This promotion recognizes the considerable contribution Bruce has made to our company's transition to local search since joining us in the third quarter of 2005. He has put in place the structure needed to achieve our goal of being #1 in local search. Our team has a much tighter focus and the authority and accountability they need to achieve our objectives.

The management and board of directors of Interchange believe that the launch of the Local.com has been a success, with considerable gains in traffic, market share and revenue achieved thus far. Two primary goals are to become number one in local search and to achieve profitability. We believe that becoming a pure-play local-search business will enable us to focus all of our human, technical, and financial resources on local search. We further believe that shareholder value will be created to the extent that we achieve our objectives in local search.

We have had a great response from consumers. The launch from beta marks a milestone for us as we strive to deliver the best local search experience on Local.com.