Description of Services

Prima Capital Management, Inc., provides objective, institutional quality research, due diligence, and recommendations on private money managers and mutual funds who serve the needs of high net worth individuals and institutions via a state-of-the-art web based application known as PrimaGuide^TM. Additionally, Prima Capital is an independent Registered Investment Advisor with no financial affiliations with any investment products, custodians, brokerages, or clearing firms.

Prima Capital's principals developed the foundation for PrimaGuide^TM while managing the resource center for the National Investment Advisory Services practice for KPMG Peat Marwick LLP during 1997 and 1998. Additionally, Prima Capital's professional heritage includes Wilshire Associates, Standard & Poor's, Thomson Financial, Asset Management Group, Portfolio Management Consultants, and The Ayco Company.

Prima Capital's private account analysis begins with the consideration of approximately five thousand products. Once their initial screening is complete, they conduct extensive quantitative and qualitative research, and due diligence on a more select roster of managers.

Prima Capital's, PrimaGuide^TM product offers the following competitive advantages over alternative sources of private money manager research and due diligence:

	Extensive personnel experience and backgrounds within investment advisory services.
	Depth of quantitative and qualitative research and on site due diligence.
	"Best-Of-Class" recommendations.
	Breadth of private money managers within PrimaGuideTM database (currently approximately one hundred sixty managers representing three hundred and twenty products).
	High end technology platform which allows for product updates directly from the managers into PrimaGuideTM on an as needed basis, as well as other impressive features.
	Proprietary Tax Performance Evaluation System, taking into account turnover and dividend yield (tax liability) and each manager's specific techniques to minimize taxes (tax efficiency). This represents one of the seven qualitative factors involved in the creation of our "best of class" recommendations (six quantitative factors are also included).

PrimaGuide includes the following information:

	Firm description
	Organizational summary
	Investment decision-making process
	Portfolio holdings and characteristics
	Economic sector analysis
	Evaluative performance analytics
	Administrative data
	Contacts for firm ADVs
	On-site due diligence summaries
	Benchmark analytics
	Tax performance evaluations
	Advisory commentary
	Performance attribution analysis
	Universe construction and manager comparisons
	Holdings based style analysis
	Advanced Report for client presentation