Estate of H.A. True, Jr. - Page 207

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          Value as of         Book value Statutory    Kimball     Final Lax  Respondent’s  Court’s             
          June 30, 1994       reported  notice value  reports      report     position     values              
                              on return                                                                        
          Entity Value                                                                                         
          (Controlling                                                                                         
          Basis)                N/A         N/A     $45,297,509     N/A      $45,297,509 $45,297,509           
          Less: Minority                            (11,324,377)             (4,529,751) (6,794,626)           
          Discount              N/A         N/A         25%         N/A          10%         15%               
          Marketable                                                                                           
          Minority Value        N/A         N/A       33,973,132    N/A       40,767,758  38,502,883           
          Less: Marketability                       (11,890,596)                         (11,550,865)          
          Discount              N/A         N/A         35%         N/A          N/A         30%               
          Nonmarketable                                                                                        
          Minority Value        N/A         N/A       22,082,536    N/A       40,767,758  26,952,018           
          Value of 17.23%                                                                                      
          Interests (total)                                                                                    
          Transferred to                                                                                       
          True Sons           2,712,212  9,084,581    3,804,821     N/A       7,024,285   4,643,833            

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