Diversity Investment Group Minutes of the Meeting

June 4, 2003

In attendance, Andy Bain Tom Sounders, Holly Deveny, Vreni Ludin, Roger Drury, David Robinson, Larry Corse, Todd Fibus, Jennifer Mullins, Satish Shah, Russ Douglas.

Absent: Ron Kozak, David Jones, Peter Carnell (proxy given to Roger Drury), Steve Shockley, (proxy given to Tom Saunders).

Minutes were approved from May 2003 meeting.

Tom presented the Treasurer’s report. The money available tonight to be invested is $1386. The unit valuation is $18.38, which is 27% increase from the previous month. The funds collected tonight totaled $1355.

David B. presented the DIG Board for Members to consider the club’s portfolio and which companies members would like to invest funds. 

Presentations:

Andy presented Pfizer, Inc. PFE is a major producer of pharmaceuticals, hospital products, consumer products and animal health lines. This company is currently in the club’s portfolio. He found the company to be in the Buy zone.

Tom presented Adobe Systems, Inc. ADBE, develops computer software products that enable users to create, transfer, and print electronic documents.

Tom also presented Automated Data Processing; Inc. ADP is the nation’s largest payroll and tax filling processor. He found this company to be in the Buy zone at current price however would not continue to grow in a weak economy. Both ADBE and ADP are companies, which are in the club’s portfolio.

Members were asked to consider which companies they would like to invest in after reviewing the DIG Board and hearing presentations. After some discussion and consideration, a motion was made to buy Pfizer. A 2^nd motion was made and the club voted unanimously to support this” Buy”.

Meeting was adjourned.

Next month’s meeting is July 2^nd, 2003.

Minutes submitted by Russ Douglas.

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