| AAVIN seeks to invest in companies where substantial equity value can be created and realized in three to seven years. Our investment philosophy centers on generating results by partnering with strong management groups to build companies. The most important criterion in evaluating attractive investment opportunities is the quality of the management team. We look for a proven track record, resourcefulness in problem solving, the ability to attract and retain quality personnel, and a strong desire for success. We invest in a broad range of industries and prefer companies located in Middle America: the states located between the two major mountain ranges. We have been active in telecommunications, financial services, consumer products & services, industrial products & manufacturing, medical devices & services, computer & software related companies and many other industries. We will participate with others or will act as sole investors. Often, we serve as lead investors in our investments. Our preferred investment is in companies that have already begun to generate significant revenues to companies that are more mature. We assist with growth and expansion needs as well as ownership changes and recapitalizations. The financings in which we participate are most often less than $5 million but will consider financings up to $10 million. Our approach does not rely upon IPO's and most of our past investments have generated shareholder liquidity through third-party acquisitions or management buyouts. | 
