ARIS INDUSTRIES, INC.

Aris Industries, Inc. was an apparel-marketing firm that owned and managed licenses for a variety of outerwear and activewear clothing brands.

In 1999, a Palisade contact in the apparel industry identified publicly traded Aris as a promising platform for licensing, manufacturing and marketing a variety of apparel brands. Aris had a portfolio of owned and licensed brands, as well as manufacturing and distribution capabilities. In April 1999, PPP invested in Aris.

In 2001, Aris sold its manufacturing facilities to Group Xtra and shut down its operations.

Azerity was the leading customer relationship management solution for the high-technology electronics industry, providing software that helped companies to acquire, retain and manage customers through targeted solutions for demand creation, global price management, channel management, sales analytics and sales compensation. Azerity's product proved to be especially effective in the semiconductor space.

In the late 1990s, the semiconductor industry enjoyed rapid growth and Palisade identified an opportunity for Azerity to significantly increase the efficiency of the sales channel for semiconductor manufacturers. PPP participated in a Series A financing round in 1998, and led the Series B financing round in July 1999.

In 2005, Azerity was acquired by Model N, a large revenue-management company.

BERDY MEDICAL SYSTEMS, INC.

Berdy Medical Systems, Inc. was a provider of electronic medical record systems for use in physicians' offices, clinics and hospitals. Berdy's proprietary system worked to improve patient flow, reduce administrative time spent by physicians and staff, increase practice revenue by providing improved documentation to support higher billing and improve general patient care.

Palisade considered Berdy to be an attractive investment opportunity due to the growing demand for an electronic medical record system. Palisade was also impressed with founder Dr. Berdy's past entrepreneurial success, coupled with his experience as a physician. PPP made its first investment in Berdy Medical Systems in March 1998.

Palisade was extremely active through its board seat with Berdy, particularly in terms of making introductions to strategic partners and potential sources of financing. Palisade introduced Berdy to PSS World Medical, WebMD and WelchAllyn, three companies well-positioned to engage in strategic relationships with Berdy. Additionally, Palisade introduced Berdy to Crossbow Ventures and V-Finance Investments, both of which provided equity financing to Berdy.

In October 2004, Berdy Medical Systems was acquired by Ramp Corporation.

C3i, Inc. provides IT services to companies with large, mobile sales teams, particularly large pharmaceutical companies such as ImClone Systems, Inc., Wyeth Pharmaceuticals, Inc., Otsuka America Pharmaceuticals, Inc. and Berlex Laboratories, Inc. C3i offers technical support, hardware roll-outs and service, and implementation of CRM (Customer Relationship Management) systems for field sales operations.

At the time of its investment, Palisade believed that C3i offered unique services that would be attractive to a variety of businesses. This thesis was reinforced by C3i's existing blue-chip client base. Also, Palisade considered C3i's management team to be exceptional for a company of its size and early-stage of development. In December 1998, PPP made its first investment in C3i.

Palisade has been active through its board seat with C3i, providing guidance for senior management in a variety of strategic decisions as C3i continues to grow its business.

COMSTAR.NET INC.

Comstar.net, Inc. was a provider of Internet services to middle market businesses, educational institutions and government organizations. A majority of Comstar's revenue came from providing high-speed internet access; however Comstar's growth strategy was focused on the expansion of its dedicated application server hosting and co location services. Comstar targeted middle market businesses and application service providers who needed high reliability, cost-effective business solutions that enabled them to take advantage of the internet while outsourcing a significant portion of their IT staff.

Palisade felt that demand was growing rapidly for the services provided by Comstar. Comstar featured a diverse base of products, providing for multiple revenue streams and maximum utilization of their data center. In January 2000, PPP invested in Comstar.

Comstar was acquired by Globix, Inc. in August 2000.

Lydian Trust Company is a Florida-based diversified financial services firm that provides a variety of banking and wealth management services to high net worth clients, and also provides technology development and loan processing services to large financial services firms.

Palisade had a high degree of confidence in the management team's abilities to build out their organization, develop relationships with a broad array of strategic partners, and, most importantly, to adjust their strategy as necessary in the fast-changing banking markets. PPP invested in Lydian in March 1999. Palisade Private Partnership II, L.P. also invested in Lydian in February 2001.

In July 2006, both PPP and PPPII sold part of their investments back to Lydian. In May 2007, City National Corporation acquired Lydian's Wealth Management division. Lydian used a portion of the proceeds from this sale to repurchase the remainder of the Lydian shares held by PPP and PPPII.

Mangosoft Inc. develops and markets products and services that accelerate business via the internet. Its patented pooled caching technology leverages the power in personal computers, storage and local area networks to improve the utility and effectiveness of network services. Mangosoft's products include CachelinkÆ, a software-based Web caching product that significantly increases the delivery speed of internet and intranet content to end-users, and MangomindSM, a software service that allows real time file sharing and secure remote storage on the internet.

Mangosoft's proprietary pooling technology had several developed and potential applications. At the time of Palisade's investment in January 1999, Mangosoft had a number of VARs and end-users deploying its early file-sharing product for simplified, "server-less" networks. The Company was also about to release its CachelinkÆ product, which offered significant performance improvements for users in a network accessing the same web pages. Mangosoft had clear strategies in place for the distribution of its products, as well as a promising pipeline of new products in development.

In August 1999, Mangosoft merged with a public shell and Palisade's investment converted to common stock. Palisade exited its investment in Mangosoft through the open market sale of its shares during the second quarter of 2001.

Noon-in-China LLC designs, markets and distributes a globally recognized niche line of premium cosmetics under the brand name "Tony & Tina." Its products are sold through upscale department stores such as Nordstrom, Bloomingdale's, Saks Fifth Avenue, as well as specialty stores such as Sephora, independent boutiques, international distributors, catalogs and through its online outlets.

At the time of Palisade's investment, the color cosmetics industry was enjoying a strong growth rate and a number of niche brands were being purchased by established companies such as Estee Lauder. Palisade was impressed by Tony & Tina's product, and believed that the younger women that its products targeted were underserved by the cosmetics industry. PPP made its first investment in Tony & Tina in June 1998.

In June 2002, Tony & Tina was acquired by Wella AG.

Neurologix, Inc. is developing treatments for disorders of the brain and central nervous system using gene therapy. These treatments are designed as alternatives to conventional surgical and pharmacological treatments. Neurologix's development efforts are focused on gene therapy products for treating Parkinson's disease, Epilepsy, Alzheimer's disease and Huntington's disease.

Palisade was impressed by both the market potential for the gene therapy techniques created by Neurologix and by the track record of its founding scientists, who are both considered to be among the world's leading researchers in the fields of gene therapy and neuronal gene transfer. In November 1999, PPP made its first investment in Neurologix.

Neurologix successfully completed the first ever Phase I gene therapy trial for Parkinson's disease in October 2006. Neurologix expects to begin both the Phase 2 trial for Parkinson's disease and the Phase 1 trial for Epilepsy in the near future.

Register.com is a leading registrar of internet domain names. It also provides a variety of other services related to managing an online presence for businesses and consumers.

At the peak of the Internet boom, the license to register domain names for profit began to open beyond the initial monopoly granted to Network Solutions (now Verisign). In early 1999, Register.com was applying to become one of 5 companies worldwide able to collect registration fees for .com, .net and .org domain names during an initial test phase. Register.com needed additional equity capital to show viability in this application process. In March 1999, PPP invested in Register.com.

Register.com completed an initial public offering in March 2000. In 2002, Palisade sold its shares in the open market.

Show Digital was a provider of high-speed bandwidth services for the convention and hotel industry. Show Digital initially began deploying high-speed Internet access in New York City at the Javits Convention Center, followed by Hilton Hotel's flagship property on Sixth Avenue. Exhibitors needed temporary Internet access while at these conventions, shows and events. Since dealing with the local ISP provider for a temporary Internet connection was expensive and cumbersome, Show Digital took advantage of this market opportunity by providing these clients with a turnkey solution. Show Digital also managed the production of cybercast events at these trade shows and conventions. Due to customer requests, Show Digital was then asked to provide those same hotels with Internet access in guest rooms.

The overwhelming growth of the use of the Internet by exhibitors at trade shows in the 1990's led Palisade to believe in Show Digital's potential. In April 1998, PPP made its first investment in Show Digital.

Show Digital was acquired by STSN (now iBAHN) in October 2001.

The Marco Group, Inc. operated ten fully accredited post-secondary vocational schools in the Mid Atlantic and Southeastern regions of the United States. Programs included both Certificate and Associates degrees, and ranged from commercial truck driving to physician's assistant and business administration.

Through its publicly traded small-cap investment activities, Palisade was familiar with the for-profit education sector, its demand factors and the increasing consolidation of the industry. The Marco Group appeared poised to grow to a size deemed attractive by the larger players in the industry. In November 1998, PPP invested in The Marco Group.

In November 2004, The Marco Group was acquired by Education Affiliates, a platform company with a large presence in the vocational schools space.

The Vendare Group, Inc.

The Vendare Group (formerly Blink.com) is a diversified e-mail marketing, database management and advertising distribution company providing performance-based online marketing services to direct marketers, traditional advertising agencies and blue-chip companies. The Vendare Group develops and distributes advertisements through a network of third-party web sites, creates and sends targeted, permission-based e-mail advertisements to individuals drawn from a proprietary database and operates a network of destination web sites that reward users with sweepstakes and promotions.

Blink's original product was a collaborative browser-based engine for management and sharing of bookmarks among internet users. Soon after its inception, Blink attracted a significant number of users to its bookmark uploading service. Palisade believed that the search and bookmark data collected by Blink had significant potential value to advertisers and data vendors. In April 2000, PPP invested in Blink.

In February 2002, Blink was acquired by The Vendare Group in an all-stock transaction. In October 2004, Palisade sold its stake in The Vendare Group.