V. Time Table for Implementation of Inventory Rules

We shall require carriers to begin implementing the inventory rules adopted herein effective with the filing of the next scheduled bi-annual NRUF report that is due on February 1, 2005. Carriers shall be required to calculate their six-month inventory level utilizing data in the NRUF Report due on February 1, 2005 and donate any excess inventory blocks to the PA based on application of our adopted rules. Any surplus blocks identified through the six-month inventory calculations shall be donated to the pool no later than 10 working days after their filing of the February 1, 2005 NRUF.

Every six months thereafter, carriers will be required to perform an updated calculation of permissible inventory levels, and to make any resulting donations to the pool of excess inventory blocks as defined by the adopted rules.