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<P><IMG SRC="images/logo.gif" WIDTH="227" HEIGHT="70" ALIGN="BOTTOM" ALT="Sharp Investments" BORDER="0"><BR>
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<FONT SIZE="5" COLOR="#014339" FACE="Arial Narrow">Creating Wealth Through Value Investing...</FONT>
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<P ALIGN="CENTER"><B>FREE!</B><BR>
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<P ALIGN="CENTER"><A HREF="seminars.htm">Seminar Information</A>
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Sharp Investments is an <B><FONT COLOR="#014339">independent</FONT></B>, fee-based Registered Investment Advisory
firm, providing <B><FONT COLOR="#014339">personalized portfolio management</FONT></B> to individuals and <A HREF="archive/seppub.htm"
target="_self">small businesses</A> through direct investment in common stock and bonds. We specialize in retirement
accounts including:
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<TD WIDTH="43" msimagelist><IMG SRC="images/bul.gif" WIDTH="11" HEIGHT="10" ALIGN="BOTTOM" BORDER="0" HSPACE="15"></TD>
<TD WIDTH="100%" VALIGN="TOP">IRAs</TD>
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<TD WIDTH="43" msimagelist><IMG SRC="images/bul.gif" WIDTH="11" HEIGHT="10" ALIGN="BOTTOM" BORDER="0" HSPACE="15"></TD>
<TD WIDTH="100%" VALIGN="TOP"><A HREF="archive/issue14.htm" target="_self">Roths</A></TD>
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<TD WIDTH="100%" VALIGN="TOP"><A HREF="archive/seppub.htm">SEPs</A></TD>
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<TD WIDTH="100%" VALIGN="TOP"><A HREF="archive/seppub.htm">SIMPLEs</A></TD>
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<TD WIDTH="100%" VALIGN="TOP">401ks</TD>
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<FONT FACE="Arial Narrow">Sharp Investments also manages many other long term portfolios. Our </FONT><A HREF="philosophy.html"><FONT
FACE="Arial Narrow">philosophy</FONT></A><FONT FACE="Arial Narrow"> is to use aggressive </FONT><A HREF="philosophy.html#value"><FONT
FACE="Arial Narrow">value investing</FONT></A><FONT FACE="Arial Narrow"> in common stock to create wealth and conservative
value investing to preserve wealth. Sharp Investments enhances client returns by minimizing expenses through deep
discount brokers and </FONT><B><FONT COLOR="#014339" FACE="Arial Narrow">maximizing the odds of outperforming the
stock market over long investment periods</FONT></B><FONT FACE="Arial Narrow">. For further information on how
we work with our clients, please see our </FONT><A HREF="archive/prospectus.htm"><FONT FACE="Arial Narrow">prospectus</FONT></A><FONT
FACE="Arial Narrow">.<BR>
<BR>
Established in 1995 in Portland, Oregon, Sharp Investments now has clients in ten states and three foreign countries,
and is licensed and bonded. </FONT><B><FONT COLOR="#014339" FACE="Arial Narrow">Our goal</FONT></B><FONT FACE="Arial Narrow">
upon founding the firm was </FONT><B><FONT COLOR="#014339" FACE="Arial Narrow">to treat clients' money as if it
were our own</FONT><FONT FACE="Arial Narrow">.</FONT></B><FONT FACE="Arial Narrow"> Our portfolio managers are
cautious when warranted and aggressive when warranted, in spite of conventional wisdom. We also </FONT><A HREF="philosophy.html#effective"
target="_self"><FONT FACE="Arial Narrow">minimize expenses</FONT></A><FONT FACE="Arial Narrow"> whenever possible,
and the principals of the firm have all of their long term investing assets in the same securities owned by clients.
We make money when you make money!<BR>
<BR>
We publish </FONT><I><B><FONT COLOR="#014339" FACE="Arial Narrow">"</FONT></B></I><A HREF="contact.html"><FONT
FACE="Arial Narrow">Sharp Investing</FONT></A><I><B><FONT COLOR="#014339" FACE="Arial Narrow">"</FONT></B></I><FONT
FACE="Arial Narrow">, a quarterly educational newsletter written by our chief portfolio manager, </FONT><A HREF="portman.html"><FONT
FACE="Arial Narrow">Daniel Sharp</FONT></A><FONT FACE="Arial Narrow">. Previous issues are available on the </FONT><A
HREF="companyinfo.htm"><FONT FACE="Arial Narrow">Company Information</FONT></A><FONT FACE="Arial Narrow"> page.
Other articles on various subjects, such as </FONT><I><B><FONT COLOR="#014339" FACE="Arial Narrow">"</FONT></B></I><A
HREF="archive/retpub.htm" target="_self"><FONT FACE="Arial Narrow">Investing for Your Retirement</FONT></A><I><B><FONT
COLOR="#014339" FACE="Arial Narrow">"</FONT></B></I><FONT FACE="Arial Narrow">, are also available there,
as well as our Company Prospectus, and other forms and literature.<BR>
<BR>
Sharp Investment </FONT><A HREF="portman.html"><FONT FACE="Arial Narrow">portfolio managers</FONT></A><FONT FACE="Arial Narrow">
also regularly give </FONT><A HREF="seminars.htm"><FONT FACE="Arial Narrow">presentations and seminars</FONT></A><FONT
FACE="Arial Narrow"> on a variety of investment topics. Also, check out </FONT><A HREF="new.html"><FONT FACE="Arial Narrow">What's
New</FONT></A><FONT FACE="Arial Narrow"> for Market Update and Forecast, hotlinks, and excerpts from the most recent
newsletter.</FONT></P>
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<P ALIGN="CENTER"><FONT SIZE="2" FACE="Arial Narrow">Sharp Investments, Inc<BR>
503-520-5000<BR>
Fax 503-520-0530<BR>
</FONT><A HREF="mailto:moreinfo@sharpinvestments.com"><FONT SIZE="2" FACE="Arial Narrow">moreinfo@sharpinvestments.com</FONT></A>
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</FONT><A HREF="http://www.spiritone.com/~billj" target="_blank"><FONT SIZE="2" FACE="Arial Narrow">Bill D. Johnson
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