MARKET PENETRATION
We anticipate the formation of three to four Stephens sponsored investment companies
per year, ranging in assets acquired per company from $15,000,000 to $40,000,000,
and equity per company from $6,000,000 to $16,000,000, with Stephens family affiliated
investment companies providing a significant portion of the equity. We are familiar with all the Bay Area
markets and are represented in the majority of the markets.