Etrials Worldwide Inc. Watch

from SC 13D/A 2 pages Letter to Issuer

from SC 13D 2 pages July 25, 2008 1. the Non-Productive Expansion of the Company’s Overhead Caused by the Former CEO Needs to Be Reduced Immediately and the Billable Utilization Rate of Operating Employees Needs to Be Increased in Order to Reduce Ongoing Quarterly Losses; 2. the Board Should Approve and Execute a Stock Repurchase Plan of Up to $2 Million as Soon as Possible and Continue This Program Through June 30, 2009; 3. the Board Should Authorize Management to Immediately Retain an Investment Banker to Assess the Company’s Strategic Value and Recommend Alternatives to Enhance Shareholder Value Including the Potential Solicitation of Offers for the Company; and 4. the Board Should Elect Scott Nussbaum, From Broadlawn Capital (A Large Institutional Holder of Etwc Common Stock), to Fill the Current Open Director Seat, and the Board Should Elect Peter Coker a Director, as Mr. Coker Is Willing to Return to the Board Now That the Former CEO Has Resigned

from S-1/A ~5 pages Earlybirdcapital, Inc. 600 Third Avenue 33rd Floor New York, New York 10016 Selected Dealers Agreement

from S-1/A ~20 pages Underwriting Agreement Between Cea Acquisition Corporation and Earlybirdcapital, Inc. Dated: , 2004 Cea Acquisition Corporation Underwriting Agreement

from S-1/A ~5 pages Earlybirdcapital, Inc. 600 Third Avenue 33rd Floor New York, New York 10016 Selected Dealers Agreement

from S-1/A ~20 pages Underwriting Agreement Between Cea Acquisition Corporation and Earlybirdcapital, Inc. Dated: , 2004 Cea Acquisition Corporation a Specified Purpose Acquisition Company™ (A Spac™) Underwriting Agreement

from S-1/A ~20 pages Underwriting Agreement Between Cea Acquisition Corporation and Earlybirdcapital, Inc. Dated: , 2003 Cea Acquisition Corporation a Specified Purpose Acquisition Company™ (A Spac™) Underwriting Agreement

from S-1 ~5 pages Earlybirdcapital, Inc. 600 Third Avenue 33rd Floor New York, New York 10016 Selected Dealers Agreement