Pacific Capital Management Ltd.

Pacific Capital Management Ltd. was established in 1992 to provide advisory work on investment opportunities in the East Asian region including Hong Kong, Singapore, Malaysia, Thailand, Indonesia, the Philippines, Taiwan, Korea and China.

All of our investment advisory assignments share a common principle: to identify and acquire exceptional investments with attractive growth attributes and for which the marketplace will recognize a greater value within a reasonable period of time. Capital preservation plays an important part in our goal of achieving positive rates of return for our clients. Finally, commitment of our own capital in every fund organized by us creates a partnership relationship with our clients.

Pacific Capital Management Ltd. is a Licensed Corporation under the Hong Kong Securities Ordinance. It is an advisor to institutional and private investment accounts that cover both public and private equity markets in Asia.

Earlier, PCML was the advisor to the Asian Special Situation Equity Trust (ASSET), a closed-end unit trust investing in high-growth companies in the region. ASSET, organised in 1989, achieved a net compound return of 16.5% annually for 7.5 years when the fund's assets were entirely realized in July 1996.

We provide the following services to clients:

Individual investment management accounts (minimum: US$3 million).
Advisory services to collected pools of capital.
Private equity advisory services including due diligence, valuation, negotiation of terms.

Our services are not publicly available in the U.S.

	RANDOLPH C. KWEI, Managing Director

	VIOLET CHONG, Senior Portfolio Manager

	FABRICE JACOB, Non-Executive Director