Thomas R. Stephens

REAL GOODS SOLAR, INC.  2011:  Acquisition of Alteris Renewables, Inc.; 2008:  Initial Public Offering; Acquisition of Regrid Power, Inc.

WELLFORD CAPITAL MANAGEMENT, LLC  2011:  Investment in Summit Power Group.

UNIVERSITY OF SAN DIEGO  2011-2010:  Investments in private equity and hedge funds.

AAVID THERMAL PRODUCTS, INC.  2010:  Acquisition of Aavid Thermal Products (a Willis Stein & Partners portfolio company) by Nautic Partners, LLC.

ESTES-COX CORP.  2010:  Acquisition of Estes-Cox, a manufacturer of model rockets, by Hobbico, Inc.  2002: Leveraged acquisition by Estes-Cox of Centuri Corp.; Senior and subordinated debt financing and related private equity financing in connection with the acquisition of Centuri Corp.

GOTHAM CAPITAL  2010-2005:  Various offshore and onshore private hedge fund offerings.

ALPHA NATURAL RESOURCES  2010:  Investment in Green Source Energy, LLC.

VIAWEST  2010:  Represent management in leveraged buyout by Oak Hill Capital Partners.

CHEYENNE CAPITAL  2010:  Venture capital investment in Eleutian Technologies LLC.  2006/2005:  Investments in various private equity funds.

THE COLORADO COLLEGE  2010-2006:  Investments in various private equity funds.

PUNCH CARD CAPITAL L.P., ARNHOLD AND S. BLEICHROEDER ADVISERS, LLC, and DUMA MASTER FUND, L.P.  2008:  Stock purchase agreements with Companhia de Bebidas das Américas – AmBev in connection with Ambev’s agreement to tender for shares of Quilmes Industrial (Quinsa), Société Anonyme ($155 million).

GAIAM, INC.  2008:  Sale of interest in UK operations.  2007:  Acquisitions of Zaadz, Inc. and Lime Media.  Repurchase of shares held by Revolution Living.  2006:  Acquisition of Cinema Circle.  Secondary public stock offering.  2005:  Acquisition of the media assets of GoodTimes Entertainment via bankruptcy sale ($35 million).  Strategic relationship and financing with Revolution Living, LLC, Steve Case and LIME Media.  PIPES offering with funds advised by Prentice Capital Management.  2003:  Acquisition of controlling interest in Leisure Systems International, Ltd. (UK).  2002:  Acquisition of the minority interest in Gaiam.com.  Equity investment in Conscious Media, Inc.  2001-2000:  Public company acquisition of Real Goods Trading Company, a marketer of solar and environmental products.  2001:  Acquisition of assets of Medical SelfCare, Inc., a marketer of health related products.  Secondary public stock offering.  2000:  E-commerce joint venture with Whole Foods Market, Inc. relating to Gaiam.com and WholePeople.com.  1999:  Initial public offering of common stock.

THE PARENT COMPANY  2008:  Senior secured loan with D. E. Shaw & Co.

TORTOISE GAS & OIL CORPORATION  2008:  Investment in NPRC Properties, LLC.

PLATTE RIVER VENTURES  2008, 2006:  Private equity fund formations.

STRATOS INTERNATIONAL, INC.  2007:  Acquisition of Stratos, a designer and manufacturer of interconnect components and subsystems, by Emerson Electric Company ($120 million).

STEWART R. HOREJSI  2007:  Settlement of outstanding litigation and acquisition of a majority of the outstanding shares of Neuberger Berman Real Estate Income Fund  (now Denali Fund) through a tender offer. 2003/2002:  Proxy contests involving election of directors at First Financial Fund (now First Opportunity Fund) 2001, 2000, 1999:  Proxy contests involving the election of directors and shareholder proposals at USLIFE Income Fund (now Boulder Growth and Income Fund). 1998:  Proxy contest involving election of directors at Preferred Income Management Fund (now Boulder Total Return Fund).

CABURN CAPITAL, L.P.  2007:  Offshore and onshore private hedge fund offerings.

RADIOSPIRE NETWORKS, INC.  2007/2006/2005:  Initial and follow-on venture capital financings.

SPRINGHOUSE CAPITAL, L.P.  2007/2005:  Offshore and onshore private hedge fund offerings.

FLUENT, INC.  2006:  Merger of Fluent, Inc. (a Willis Stein & Partners portfolio company engaged in fluid dynamics software) with ANSYS, Inc. ($650 million).

TORTOISE CAPITAL RESOURCES CORP.  2006:  Investment in High Sierra Energy, L.P.

PUNCH CARD CAPITAL, L.P.  2006:  Onshore private hedge fund offering.

KINGSTOWN PARTNERS, L.P.  2006:  Onshore private hedge fund offering.

OPEN PEAK, INC.  2006/2004/2002:  Organization, initial and follow-on venture capital financings.

MERITAGE PRIVATE EQUITY FUND, L.P.  2005:  PIPES financing of Exabyte Corporation (lead counsel for investors) ($8 million).

NAPRO BIOTHERAPEUTICS, INC. (now known as TAPESTRY PHARMACEUTICALS, INC.)  2004:  Shelf registration and PIPES offering.

STERLING HOLDING COMPANY  2003:  Merger with Stratos Lightwave, Inc. ($60 million).  Series B preferred stock financing of Corona Optical Systems, Inc.  1997:  Reorganization in connection with the leveraged buyout of Fairchild Semiconductor by Citicorp Venture Capital and other investors.  1995:  Acquisition of Swiss Precision Products, Inc., a manufacturer of screw machine products.   1994:  Acquisition of Semflex, Inc. a manufacturer of high frequency coaxial connectors primarily for the defense industry.

NEWWEST MEZZANINE FUND  2003-2005; 1999:  Mezzanine financings of ACT Teleconferencing, Inc. (subordinated debt and warrants), Confertech Systems/ Voyant (subordinated debt and warrants) and Controlled Products Services Corporation (subordinated debt and warrants).

WILLIS STEIN & PARTNERS  2002:  Senior bank refinancing of Aavid Thermal Technologies, Inc.  2001 and 2002:  Follow-on equity investments in Aavid.  2000/1999: Leveraged public company acquisition of Aavid Thermal Technologies, Inc., an electronics thermal management manufacturer, together with senior bank debt, public debt and private equity financing ($360 million).

HOMESPHERE, INC.  2002:  Follow-on venture capital investment.

TRANSZAP, INC.  2002/2001/2000/1999:  Initial and follow-on venture capital financings.

PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO  2001-1996:  Investments in various private equity funds.

CELESTIAL SEASONINGS, INC.  2000:  Merger with Hain Food Group (now Hain Celestial Group) ($330 million).  1998:  Credit facility with Key Bank  1994:  Public offering of common stock (secondary offering). 1997:  Acquisition of Mountain Chai Company, a manufacturer and marketer of chai tea products.  1995:  Acquisition of Botalia Pharmaceutical, Inc., a marketer of herbal supplements. 1994:  Tea marketing joint venture in Mexico. 1993:  Initial public offering of common stock.

COMPX INTERNATIONAL  1999:  Acquisition of Chicago Lock Company, a lock manufacturer. 1998-1999:  Acquisition of Thomas Regout Holding N.V., a Dutch manufacturer of hardware and drawer slides ($55 million).

KENTEK INFORMATION SYSTEMS  1999:  Leveraged public company buyout by management of printer manufacturer ($40 million).

CORTECH, INC.  1998:  Proxy contest involving election of directors and other shareholder proposals from dissident stockholders.

TITANIUM METALS CORPORATION  1998: Acquisition of the titanium melting operations of Wyman-Gordon Company, formation of titanium castings joint venture and long term titanium supply agreement.  1997-1998:  Acquisition of all of the shares of Loterios, S.p.A., an Italian titanium company.  1996: Acquisition of the titanium melting and scrap assets of Axel Johnson Metals, Inc.  1997:  Venture capital investments in Titanium Memory Systems, TICOMP, Inc. and Ti•Pro, LLC. 1996-1997: Rule 144A offering of Trust issued Convertible Preferred Securities and related registration. 1996:  Initial public offering of common stock ($350 million).

HANIFEN IMHOFF MEZZANINE FUND, L.P.  1998-1995:  Various mezzanine financings.

ROCKY MOUNTAIN MEZZANINE FUND II, L.P.  2003-1998:  Various mezzanine financings (senior and subordinated debt, warrants, preferred stock, LLC memberships).

TEJAS GAS CORPORATION  1997-98:  Midstream energy company merger with Shell Oil Company ($1.45 billion).

ROCKY MOUNTAIN INVESTMENT ADVISORS, LLC  1997:  Formation of limited liability company for mezzanine investment fund.

ASSET INVESTORS CORPORATION  1997:  Resecuritization of mortgage bond portfolio through Bear Stearns & Co.

THE AMALGAMATED SUGAR COMPANY  1996-1997:  Joint venture with Snake River Sugar Company, including related financings from U.S. National Bank and the Prudential Insurance Company.

FAIRMONT CORPORATION  1996:  Sale of the assets of The Fairmont Corporation and Pacific Fairmont Corporation, manufacturers of carpet underlay, to Leggett & Platt.

EICHROM INDUSTRIES, INC.  1996: Venture capital equity financing by Gary Comer, Inc. and ARCH Venture Partners.  1995: Bridge debt financing by Gary Comer, Inc. and ARCH Venture Partners.  1994: Venture capital equity financing by Gary Comer, Inc. and ARCH Venture Partners.

AMERICAN STEEL WOOL MANUFACTURING CO.  1995:  Joint venture and formation of limited liability company for silver recycling.

TROMPETER ELECTRONICS, INC.  1993:  Senior secured credit facility to refinance existing senior secured and subordinated indebtedness.

VALCOR, INC.  1993:  Public offering of senior debentures.