Estate of Romine C. Hogard, Deceased, James C. Elliott, Personal Representative, and Bill F. Stewart, Personal Representative, and Wanda L. Hogard, et al. - Page 11

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               PI is a closely held corporation which manufactures                    
          thermoplastic and other types of packaging machinery.  PI holds             
          itself out as the world's largest manufacturer of blister                   
          packaging machinery and as fabricating the industry's widest line           
          of thermoforming machinery including highly specialized                     
          disposable medical and food packaging systems.  PI also                     
          manufactures both the Sentinel EPE and EPS Recyclers, which                 
          recycle expanded polyethylene and expanded polystyrene.                     
               Stewart and Storey decided to visit PI's facilities in                 
          Hyannis, Massachusetts, to see whether the recyclers performed as           
          described in the offering memorandum.  At their own cost, they              
          flew to New York where they met Winer, who provided them with               
          transportation to Hyannis.  At PI's facilities, they observed a             
          demonstration of the recyclers and listened to a presentation               
          about the recyclers.  Stewart, Storey, and 10 to 12 other people            
          attended a luncheon paid for by PI at which they discussed the              
          investment.  During this trip, Stewart was told that the disposal           
          of plastic was expensive, the recycler was unique, the price of             
          the recycler was reasonable, there were no patents on the                   
          recycler, and some recyclers had sold for prices in excess of               
          those in the offering memorandum.  Other than Winer, Stewart did            
          not recall the names of the individuals with whom he spoke at PI.           
               The recycler demonstration convinced Stewart that the                  
          recycler performed as stated in the offering memorandum.                    





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