Mr. Mac Kalyan reports

BLACKICE LISTS ON THE FRANKFURT STOCK EXCHANGE

Blackice Enterprise Risk Management Inc.'s shares have been listed for trading on the Frankfurt Stock Exchange under the symbol B2I.

The listing on the Frankfurt Stock Exchange provides the company with increased exposure to European investors and enables the European financial community to trade the company's common stock on a euro basis with attractive spreads for 12 hours per day. Blackice anticipates the new Frankfurt listing will enhance the company's market liquidity as well as broaden the company's shareholder base. Frankfurt is strategically placed between North America and Asia, with Frankfurt market trading overlapping the market trading hours in Asia and continuing to trade after North American markets have opened. This will enhance liquidity in trading Blackice's shares allowing for added interest in Europe as well as from Asian markets where Blackice is currently focused on conducting business.

We seek Safe Harbor.