Exhibit 99(c)(4)

Mercury Air Group
Distribution of Shares
Revised with 501 shares

Number of Shareholders

									Est		Est
Range	New		Old		Total		NOBO		OBO		IPM		Total
5000+		13		—		13		36		17		0		66
1500-4999		1		—		1		106		54		2		163
1000 - 1499		3		1		4		103		53		1		161
501-999		7		3		10		87		44		2		143
400-500		4		2		6		96		49		1		152
300 - 399		5		4		9		55		28		1		93
200 - 299		13		4		17		94		48		1		160
100 - 199		19		27		46		148		76		1		271
0 - 99		71		141		212		196		100		4		512
Total		136		182		318		921		469		13		1,721

Number of Shares

									Est		Est						Matrix of price and number of shares
Range	New		Old		Total		NOBO		OBO		IPM		Total		Cum Shares		3.75		3.90		4.00		4.15
5000+		1,174,714		—		1,174,714		753,493		247,809		—		2,176,016		3,056,355		11,461,332		11,919,785		12,225,421		12,683,874
1500-4999		3,025		—		3,025		267,449		136,520		5,046		412,040		880,339		3,301,273		3,433,324		3,521,358		3,653,408
1000 - 1499		3,138		1,261		4,399		109,764		56,029		1,066		171,258		468,299		1,756,121		1,826,366		1,873,196		1,943,441
501-999		5,674		2,310		7,984		62,894		32,104		1,446		104,428		297,041		1,113,904		1,158,461		1,188,165		1,232,721
400-500		1,880		957		2,837		45,718		23,337		476		72,368		192,613		722,298		751,190		770,451		799,343
300 - 399		1,662		1,370		3,032		17,929		9,152		326		30,439		120,245		450,919		468,955		480,980		499,017
200 - 299		3,081		940		4,021		21,115		10,778		225		36,139		89,806		336,773		350,244		359,224		372,695
100 - 199		2,489		3,639		6,128		18,824		9,609		127		34,687		53,667		201,252		209,302		214,669		222,719
0 - 99		2,589		3,611		6,200		8,324		4,249		207		18,980		18,980		71,174		74,021		75,919		78,766
Total		1,198,252		14,088		1,212,340		1,305,509		529,587		8,919		3,056,355
NOBO		350
		250