Columbine Capital Services, Inc. helps professional investors work more efficiently, conserve analytical resources, and improve portfolio return. Founded in 1976, Columbine Capital is an independent equity research firm that utilizes a suite of proprietary quantitative models to analyze the latest financial and market data on thousands of companies worldwide. Columbine's clients receive the product of this analysis in the form of numerical rankings that represent forecasts of each stock's probable future alpha. Columbine Capital offers:

• History of results - model performance monitored and reported
• Portfolio-oriented model construction methodology
• Models designed for institutional holding periods
• Country-specific models for major markets
• Annual revisions keep models current
• Coverage of 30,000+ stocks from 45+ countries worldwide
• Weekly rankings updates

Component Models - analytical building blocks to improve your process

• Columbine Alpha Factor - quantitative price momentum analysis
• Expectational Model - earnings estimate analysis
• Momentum Model - earnings and price momentum analysis
• Valuation Model - company valuation analysis

Stock Selection Models - provide the foundation for a complete stock selection system

• Sector Model - sector-specific analysis
• Combo Model - general purpose model balances growth & value
• Core Model - analysis of big-cap, liquid companies
• Growth Model - growth stock analysis
• Small-Cap Model - small-cap stock analysis
• Value Model - value stock analysis

International Models - Columbine methodology applied worldwide

• Columbine Alpha Factor - country-specific price momentum analysis
• Combo Model - country-specific multifactor analysis

Columbine Capital's founder and president, John S. Brush, PhD, is an acknowledged expert in the development of quantitative investment management tools. With more than thirty years of experience in quantitative research, Dr. Brush has published many articles in the area of quantitative applications to finance, and is a frequent speaker at investment conferences and seminars. Dr. Brush is a member of the CFA Institute and the Chicago Quantitative Alliance.

Clients receive weekly data files of their Columbine rankings via E-mail, FTP, or direct download from the Columbine Web site. Printed reports are delivered via overnight express. Clients also can access Columbine rankings through the Thomson Baseline or FactSet data systems.

Contact your CAPIS salesperson at (800) 247-6729 or (214) 720-0055, or call David Ament with Columbine Capital Services, Inc. at (800) 835-0751 or (719)228-1502.

E-mail address: info@columbinecap.com

Web site: www.columbinecap.com