Estate of H.A. True, Jr. - Page 194

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          Value as of       Book value Statutory    Kimball reports    Final  Respondent’s  Court’s            
          June 30, 1994       reported  notice   Guideline   NAV Method Lax    position     values             
                            on return   value       co.                report                                  
          Entity Value                                                                                         
          (Controlling                                                                                         
          Basis)               N/A       N/A        N/A     $10,933,730 N/A   $10,933,730 $10,933,730          
          Less: Minority                                    (1,093,373)                   (1,093,373)          
          Discount             N/A       N/A        N/A        10%      N/A       N/A        10%               
          Marketable Minority                                                                                  
          Value                N/A       N/A     $5,953,417  9,840,357  N/A       N/A      9,840,357           
          Less: Marketability                   (2,679,038) (4,428,161)                   (2,952,107)          
          Discount             N/A       N/A        45%        45%      N/A       N/A        30%               
          Nonmarketable                                                                                        
          Minority Value       N/A       N/A     3,274,379   5,412,196  N/A       N/A      6,888,250           
          Value of 37.63%                           30%        70%                                             
          Interests (total)                                                                                    
          Transferred to                                                                                       
          True Sons           590,511  4,147,164       1,795,271        N/A    4,114,363   2,952,048           

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