Diversity Investment Group Minutes of the Meeting

August 7, 2002

In attendance: Andy Bain, Steve Shockley, Ron Kozak, Satish Shah, Tom Sanders, Vreni Ludin, Peter Carnell, Larry Corser, Holly Deveny, David Brodeur, Mike Wall, Todd Fibus, Russ Douglas

Absent: David Robinson (gave proxy to Peter C.), Roger Drury (gave proxy to Peter C.), and David Jones.

The minutes were approved from last month.

Tom reviewed the Valuation Statement. The unit value as of July 31, 2002 was $13.90.  Cash on hand tonight was $1592. Funds collected from members tonight were $1332.76.

David B. presented the Dig Board,  Asset Board, and Portfolio Sector Chart.

Presentations:

Todd F. Presented comparisons of Home Depot and Lowe’s, both home supply companies. Both companies were in the “buy zone”.

Mike Wall presented Americredit Corp. This company was also in the “buy zone”

Andy Bain Presented Polycom, Inc. a provider of video conferencing products. This company was in the “buy zone”.

DIG members were canvassed about their interests in tonight’s presentations along with DIG Board considerations.

After discussion, a motion was passed to sell Tyco and take those proceeds, along with the funds on hand and buy Home Depot.

Minutes submitted by Russ Douglas.

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