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   &lt;div align="justify" style="font-size: 10pt; margin-top: 10pt"&gt;&lt;b&gt;Note 1. Description of operations&lt;/b&gt;
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   &lt;div align="justify" style="font-size: 10pt; margin-top: 10pt"&gt;The Corporate Executive Board Company (the &amp;#8220;Company&amp;#8221;) drives better decision making and superior
   outcomes among a global network of executives and business professionals. The Company provides its
   members with the authoritative and timely decision support they need to elevate company performance
   and excel in their careers. For an annual fee, members of each program and service have access to
   an integrated set of products and services, including best practices studies, executive education,
   customized analysis, proprietary databases and decision support tools. The Company also generates
   advertising and content-related revenues through its wholly-owned subsidiary, Toolbox.com, Inc.
   (&amp;#8220;Toolbox.com&amp;#8221;).
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 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 94-6
 -Paragraph 10

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