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


                                            March 31,    December 31,
                                              2008           2007
                                          -------------  -------------
                                           (Unaudited)
ASSETS
Current assets:
Cash and cash equivalents                 $     13,565   $     49,466
Accounts receivable, less allowance of
 $176 and $146, respectively                    15,043          8,809
Other current assets                             1,220          1,130
                                          -------------  -------------
   Total current assets                         29,828         59,405
Property and equipment, net                      3,470          3,356
Goodwill                                        81,312         36,408
Intangible assets, net                          10,263          7,318
Other assets                                     2,022          2,023
                                          -------------  -------------
   Total assets                           $    126,895   $    108,510
                                          =============  =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses            5,234          2,231
Accrued payroll and related benefits             2,982          1,517
Short term debt                                 19,945         15,650
Current portion of long term debt and
 capital lease obligations                         498            510
Deferred revenue                                 6,802          5,645
Other current liabilities                          165            149
                                          -------------  -------------
   Total current liabilities                    35,626         25,702
Convertible debt                                20,000         20,000
Long term debt and capital lease
 obligation, less current portion                    5            486
Other liabilities                                2,531          1,477
Deferred Rent                                      688            719
   Total liabilities                            58,850         48,384

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, 3,428,913 issued and
 3,420,023 outstanding at March 31, 2008
 and 3,406,234 issued and 3,397,344
 outstanding at December 31, 2007                  334            337
Additional paid-in capital                     115,147        114,771
Treasury stock (8,890 shares repurchased
 as of March 31, 2008 and December 31,
 2007)                                            (149)          (149)
Accumulated deficit                            (51,843)       (57,513)
Accumulated other comprehensive income           4,556          2,680
                                          -------------  -------------
Total stockholders' equity                      68,045         60,126
                                          -------------  -------------
Total liabilities and stockholders'
 equity                                   $    126,895   $    108,510
                                          =============  =============