The following selected prior investments demonstrate Inverness's participation in diverse industries and transactions over a wide range of values:

AMC ENTERTAINMENT, INC. is one of the leading movie theater operators in the U.S., which at the time of Inverness' investment operated 189 locations with 2,807 screens in the U.S. and internationally. At a time of significant distress in the industry, Inverness purchased approximately $100 million in face amount of Senior Subordinated Notes for approximately $48 million. Multiple of Investment: 2.0x; IRR: 289.9%.

FINANCIAL ALLIANCE PROCESSING SERVICES, INC. is a leading provider of credit card processing services to the small merchant market. Inverness and management purchased the company from Deluxe Corporation for $45 million. Multiple of Investment: 3.7x; IRR: 385.8%.

NATIONAL-OILWELL, INC. is a leader in the design and manufacture of drilling rig components and one of the world's largest distributors of standardized oil field products. Inverness purchased National-Oilwell in a management-led buyout from Armco and USX Corporation for approximately $180 million. Multiple of Investment: 22.0x; IRR: 110.0%.

PIEDMONT AVIATION SERVICES, INC. was the second largest distributor of parts to the general aviation market. The company was a full service, fixed base operator and a major provider of overhaul services to regional airlines and air cargo companies when it was purchased for $68 million from US Air. Multiple of Investment: 4.5x; IRR: 28.6%.

PENNCORP FINANCIAL GROUP, INC. is an underwriter of specialty accident and health insurance. Inverness initiated and negotiated the purchase of PennCorp from Primerica, Inc, in a $279 million leveraged buyout. Multiple of Investment: 4.3x; IRR: 62.3%.

PREFERRED TECHNICAL GROUP is a designer and manufacturer of coupled-hose products for passenger cars and light trucks. The company was purchased in a $70 million buyout from a unit of United Technologies. Multiple of Investment: 10.2x; IRR: 175.9%.

SOUTHWESTERN LIFE HOLDINGS is a life insurance holding company. Inverness led a restructuring of the company through bankruptcy, ultimately investing $31.5 million in a transaction valued at approximately $202 million. Multiple of Investment: 1.5x; IRR: 24.0%.