Ebix, Inc. and Subsidiaries
                     Consolidated Balance Sheets
               (In thousands, except for share amounts)

                                            30-Sep      December 31,
ASSETS                                       2006           2005
                                        ------------------------------
Current                                   (Unaudited)
 assets:
Cash and cash equivalents                       $5,334         $6,733
Unbilled receivable                                343              -
Accounts receivable, less allowance of
 $20 and $11                                     5,128          3,502
Other current assets                               855            444
                                        ------------------------------
             Total current assets               11,660         10,679
                                        ------------------------------
Property and equipment, net                      1,598          1,488
Goodwill                                        13,040         12,204
Intangibles assets, net                          4,897          3,293
Other assets                                       285            317
                                        ------------------------------
Total assets                                   $31,480        $27,981
                                        ==============================

LIABILITIES AND STOCKHOLDERS' EQUITY
Current
 liabilities:
Accounts payable and accrued expenses           $2,302         $1,962
Accrued payroll and related benefits             1,312          1,450
Current portion of long term debt                  975            969
Current portion of capital lease
 obligation                                          3              -
Current deferred rent                               44              -
Deferred revenue                                 2,601          2,794
                                        ------------------------------
             Total current liabilities           7,237          7,175
                                        ------------------------------
Long term debt, less current portion               920          1,844
Long term debt capital lease obligation,
 less current portion                               10              -
Long term deferred rent                            241              -
Redeemable common stock (0 shares issued
 and outstanding at September 30, 2006
 and 157,728 outstanding at December 31,
 2005, respectively) stated at
 redemption price.                                   -          1,461

Stockholders' equity:

Convertible Series D Preferred stock,
 $.10 par value, 500,000 shares
 authorized, no shares issued and
 outstanding                                         -              -
Common stock, $.10 par value, 10,000,000
 shares authorized, 2,781,164 issued and
 2,772,274 outstanding at September 30,
 2006 and 2,740,516 issued and
 outstanding at December 31, 2005                  277            274
Additional paid-in capital                      94,416         92,539
Treasury stock (8,890 shares repurchased
 as of September 30, 2006)                        (148)             -
Accumulated deficit                            (71,397)       (75,689)
Accumulated other comprehensive income             (76)           377
                                        ------------------------------
Total stockholders' equity                      23,072         17,501
                                        ------------------------------
Total liabilities and stockholders'
 equity                                        $31,480        $27,981
                                        ==============================