Caliber Therapeutics, Inc. is engaged in the development and commercialization of proprietary minimally-invasive, balloon-based drug delivery products for the intervention of vascular diseases. Caliber seeks to provide innovative solutions for unmet clinical needs, such as safe and efficacious alternatives to drug-eluting stents, the desire to avoid permanent implants, and the large and growing market of endovascular indications for which stenting is counter-indicated. Caliber is managed by an experienced, multidisciplinary team and supported by an advisory team of leading physicians.

Caliber partnered with DSM Biomedical, a division of Royal DSM N.V., for the development of a novel drug delivery balloon catheter that can be used to treat vascular diseases such as atherosclerosis. Caliber and DSM together will develop innovative balloon-based products that combine drugs and devices to meet the growing need for the safe and effective treatment of vascular diseases. Palisade made the investment in August 2008.

Glenmount Global Solutions, Inc. ('Glenmount' or the 'Company') is a leading independent industrial IT services firm in North America, with over 350 associates in 25 offices. Glenmount is a customer focused professional services firm that provides world class industrial automation and data integration services through aligned associates, industry knowledge and technical expertise.

On May 16, 2008, PCEPII invested $15.0 million in the Company. The funds were primarily used to acquire Crown Holdings, which will be merged with Glenmount's existing operating companies, Tegron and FluidIQs. This combination will expand the Company's reach and expertise across a variety of industries and business sectors, including water & wastewater, metals, food & beverage, and oil & gas.

Ikonisys, Inc. developed CellOptics, a proprietary microscope and cell identification technology platform used to analyze rare and hard to detect cells in a fully automated, high-throughput fashion. CellOptics has the unique ability to perform non-invasive and accurate prenatal diagnosis and has the potential for use in the diagnosis of cancer.

With the aid of medical experts, Palisade determined that the CellOptics system could potentially become a standard for testing and analyzing cells. The prenatal diagnosis need has been growing rapidly due to the increasing mean age of motherhood, and Ikonisys stands to capitalize on this increasing demand. Future potential applications in cancer diagnosis could fuel explosive growth. In July 2006, PCEPII invested in Ikonisys.

Ikonisys has continued to garner considerable attention throughout the medical community for its CellOptics system, and has been invited to present at top medical conferences internationally. Further rounds of investment have helped to position Ikonisys for growth.

Kainos Partners Holding Company, LLC is a large franchisee of Dunkin' Donuts stores. Kainos has signed store development agreements with Dunkin' Donuts to open up to 140 franchises in South Carolina, Buffalo, New York and Las Vegas, Nevada.

Palisade determined that Dunkin' Donuts is a strong brand with significant room to grow in Kainos' target areas. Dunkin' Donuts private equity owners are highly capable and motivated to grow the business. Kainos features a strong management team with extensive experience as franchisees of brands such as Subway. PCEPII invested in Kainos in March 2007.

Mitralign, Inc. ("Mitralign") developed the Percutaneous Annuoplasty System ("PAS") for the treatment of mitravalve regurgitation ("MR"). Mitralvalve regurgitation is a condition caused by the gradual enlargement of the heart which can lead to damage to the heart and to other vital organs of the body. Currently about 900,000 patients in the US are affected by MR, of which only 5% are candidates for heart surgery. The PAS offers an advanced solution for the treatment of MR that is superior to heart surgery in a number of ways. PAS procedures can be completed in a few hours with far less trauma to the body than open heart surgery and can be performed by electro physiologists as well as heart surgeons. The procedures are anticipated to cost $20,000 which equates to approximately half of the cost of cardiac surgery. Mitralign anticipates beginning a safety trial with 40 patients in order to obtain CE Mark approval in the second quarter of 2008. A pivotal trial with 250 patients is scheduled to commence in the second quarter of 2009.

On December 3, 2007 PCEPII invested $2.0 million in Mitralign as part of a $24.0 million Series C financing round led by Medtronic, J&J Development Corporation (a subsidiary of Johnson & Johnson focused on venture investments) and existing investors, including Oxford Bioscience Partners, ABN Amro Capital, Triathlon Medical Ventures and Giza Ventures. Proceeds from the financing round will enable Mitralign to complete its initial clinical experience and to obtain CE Mark approval of the Mitralign System.

Ruby Tequila's Mexican Kitchen, LLC ('Ruby Tequila's') operates Texas Mexican style restaurants in Lubbock, Amarillo and Selma, Texas. Ruby Tequila's was founded in 1991 and differentiates itself through the delivery of high quality mesquite grilled food made from scratch, good service, and a fun, vibrant atmosphere. Palisade learned of these attributes through visits to the restaurants, where the excellent fare and the buzz of the patrons demonstrated the strength of Ruby Tequila's and its potential for growth.

On February 11, 2008, PCEPII invested $6.2 million in Ruby Tequila's. This financing round will support Ruby Tequila's plans to open over 30 stores in Texas over the next five years. Ruby Tequila's strong management team will be joined by restaurant professionals with significant growth concept experience.

SWN Communications, Inc. ('SWN,' 'Send Word Now,' or the 'Company') is the leading provider of on-demand alerting and response services for both emergency and routine communication. Send Word Now's easy-to-use, web-based services are used by government agencies, universities, non-profit organizations and businesses, including many of the Fortune 500, to ensure fast, effective, two-way communication in real-time -- anywhere, anytime, regardless of location, device or connection. Send Word Now's messaging platform is capable of transmitting hundreds of thousands of voice and text messages in minutes, receiving responses and monitoring and reporting the results. The SWN Alert Service is designed to reach anyone, anywhere, anytime, with any device over any type of connection. The company is headquartered in New York City.

The company's reputation for excellence in On Demand Alerting and Response Services will allow it to continue to grow as a leader in its field by expanding its footprint and increasing its revenues. Palisade made the investment in September 2008.

Shoe Sensation, Inc. ('Shoe Sensation' or the 'Company') headquartered in Jeffersonville, Indiana (outside Louisville, Kentucky), operates a chain of approximately 78 retail shoe stores in 11 states, primarily in the Midwestern United States. The majority of the Company's stores are located in strip malls in small towns with populations of between 30,000 and 50,000 people. The stores feature branded shoe merchandise with brands such as Nike, K-Swiss, Sketchers, Eastland, Timberland, Clarks and Rockport, along with apparel merchandise similar to the junior branded apparel sold by Aeropostale, American Eagle and Etnies. Shoe Sensation occupies an attractive niche in its markets, which, due to their size, cannot support the premium retailers typically found in suburban shopping malls. As a result, the Company is often the only source of branded shoes and apparel not available in 'big box' discount chains such as Wal-Mart and K-Mart.

On December 28, 2007, PCEPII invested $8.1 million in Shoe Sensation in a transaction structured as an asset purchase. A new management team has been recruited to lead the Company post-closing, and this team will be led by Chief Executive Officer Tom Slover. Tom has 30 years of experience in shoe retailing, most recently as the President and CEO of Foot Locker Europe. Palisade believes that Shoe Sensation is poised for success as Tom guides its development into a powerful retail presence in the Midwest.

Word World, LLC is the developer of a unique educational brand for children. Word World will launch 26 half-hour, computer generated, animated television episodes that began airing daily on PBS on September 3, 2007, and will begin selling licensed merchandise through Target Stores and other national retailers in January 2008.

Palisade viewed preliminary episodes of the show, and was impressed by both the quality and the content of the programming. Palisade has experience in the educational space through prior investments such as Achieve3000, and believes in the growth prospects of this sector. Recently, brands with comparable products to Word World such as Dora the Explorer and Baby Einstein have shown rapid growth. PCEPII invested in Word World in June 2007.

Word World has negotiated an agreement with Target Stores, whereby Target has agreed to provide significant shelf-space and marketing support in return for a two-year exclusive opportunity to market certain Word World products starting in January 2008. Word World has also signed agreements with Alliance Entertainment, a leading distributor of CD's, DVD's and related merchandise, Spin Master, a leading North American toy company, and Mega Brands, a leading producer of arts and crafts related products.

Since Word World's September 3, 2007 launch, reviews of the program have been quite favorable and preliminary ratings appear strong.