Columbia West Capital completed three investment banking assignments in the first quarter of 2006 in the retail, software and medical services industries. We are pleased to have had the opportunity to work with these industry leaders as their M&A Advisor to help build successful strategic partnerships.

Columbia West Capital continues to be committed to establishing a leading investment banking position in the Southwestern U.S. and has recently expanded its senior ranks with the addition of Basil "Base" E. Horner, who has joined the firm as a Senior Advisor and member of its Executive Advisory Board. Mr. Horner brings over 20 years of investment banking experience at major Wall Street firms, completing in excess of $6.0 billlion of transactions for over 100 middle market companies. Mr. Horner was previously a Managing Director at Smith Barney and Everen Securities where he directed Emerging Growth Investment Banking efforts. Mr. Horner has played a leading role in capitalizing some of the most successful companies operating in the Southwest, including managing the initial public and
secondary offerings of Apollo Group, as well as the recapitalization of Guitar Center.

Mr. Horner received his Bachelor of Arts degree with honors in Business Economics from University of California Santa Barbara and a Masters of Business Administration degree with honors in finance and marketing from the
University of Chicago.