Diversity Investment Group Minutes of the Meeting

May 7, 2003

In attendance Andy Bain, Vreni Ludin, Russ Douglas, David Brodeur, Jennifer Mullins, Satish Shah, Steve Shockley, Peter Carnell

Absent-Tom Saunders (proxy given to Vreni L.), Todd Fibus (proxy given to Tom then to Satish S.), Ron Kozak (proxy given to Tom S., then given to David B., then given to Jennifer M.), Larry Corse  (proxy given to David B.), Roger Drury (proxy given to Peter C. then given to Steve S.), David Robinson (Proxy given to Peter C.), Holly Deveny, David Jones.

Minutes were approved from April’s meeting

Vreni Ludin presented the treasurer’s report. The cash on hand as of 04/30/03 was  $1218.66. The unit valuation of each unit was  $17.22. Funds collected this evening were $1186.

David B. presented the DIG Board. Members were given a chance to review the portfolio and consider which companies they were interested in investing funds. A motion to invest tonight’s funds in Intel was made. The motion was seconded and then passed unanimously by the other members.

Presentations-

Jennifer Mullins presented Outback Steakhouse, Inc. NYSE -OSI. This company operates and licenses casual dining restaurants. It has 612 company-owned and 172 franchised units. She found the current price 36.69 to be in the BUY zone.

Jennifer also presents SSG for Brinker Int’l NYSE-EAT. This company operates and develops a number of restaurant concepts including Chili’s. This company at 31.69 was also in the BUY zone.

David Brodeur presented AFLAC, Inc. NYSE-AFI. This company is the world’s largest under writer of supplemental insurance. The current price of 33.00 is in the BUY zone.

Meeting was adjourned.

Next meeting is June 4^th, 2003

 Minutes submitted by Russ Douglas

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