Exhibit 5.3


Risk Factors Concerning Forward Looking Statements

During our investor conference call held on the date of this filing we referred
to, and during future oral disclosures or written statements we may refer to,
certain risk factors concerning forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities Exchange
Act. These statements include forward-looking language such as "will likely
result," "may," "are expected to," "is anticipated," "estimated," "projected,"
"intends to," or other similar words. Our actual results are likely to differ,
and could differ materially, from the results expressed in, or implied by, these
forward-looking statements. There are many factors that could cause these
forward-looking statements to be incorrect, including but not limited to the
following risks: risks associated with (1) our ability to recruit and retain
qualified transcriptionists; (2) inability to complete and assimilate
acquisitions of businesses; (3) dependence on our senior management team; (4)
the impact of new services or products on the demand for our services; (5) our
dependence on a single line of business; (6) our ability to expand our customer
base; (7) our ability to maintain our current growth rate in revenue and
earnings; (8) the volatility of our stock price; (9) our ability to compete with
others; (10) changes in law, including, without limitation, the Health Insurance
Portability and Accountability Act of 1996 (HIPAA); (11) infringement on the
proprietary rights of others; (12) our failure to comply with confidentiality
requirements, including, without limitation, those imposed under HIPAA; (13)
changes in economic conditions; and (14) inherent uncertainties in general
relating to predicting future financial results and events. When considering
these forward-looking statements, you should keep in mind these risk factors and
other cautionary statements, and should recognize that those forward-looking
statements speak only as of the date made. MedQuist does not undertake any
obligation to update any forward-looking statement included in this Form 8-K or
made elsewhere.