1. Purpose of Presentation

- To present to the BOD recommendations for the investment of US$10M and to seek their approval thereof.

2. Background Information

XYZ Company has accumulated free cash flows which can be invested to earn investment income. Those funds will not be required in the forseeable future.

3. Assumptions

For the purposes of making this presentation to the BOD, the following assumptions have been made:

a) The foreseeable future has been defined to mean 1 to 5 years. Accordingly, maturities will be strongly influenced by this definition, though some maturities may extend beyond.

b) Uncertainty is inherent in economic life, so this submission will assume that the degree and duration of uncertainty will lie within normal ranges; that is, no major or catastrophic event will occur that will cause short or long-term markets to rise or slump significantly.

c) Interest rates and inflation will remain stable.

d) National and global economic, political and social environments are expected to remain stable.

e) The financial performance of XYZ Company is expected to remain stable

f) Key personnel resources will continue to be employed.

4. Investment Policy of XYZ Company

5. Description and Financial Analysis of Likely Investee Entities

6. Recommended Investment Portfolio Mix

7. Projected Financial Performance of Investment Portfolio

8. Conclusion