CORPORATE FINANCE

Merger & Acquisition - Representing Seller

Lucent Technologies
Bell Labs Innovations
Murray Hill, New Jersey

LUCENT PUBLIC SAFETY SYSTEMS

a division of

LUCENT NEW VENTURES GROUP

A Leading Provider of Emergency
Telecommunications Products and
Services was Acquired by

SCC Communications

The Undersigned Served as Financial
Advisor To Lucent New Ventures
Group and Lucent Public Safety Systems
in Connection with this Transaction

Lucent Technologies

Carreden acted as financial advisor to Lucent Technologies in the sale of LPSS, a leading provider of 911 support software and hardware to the telecommunications market. Lucent's New Ventures Group, owner of LPSS, sought association with another provider of complementary services to the LPSS's target market.

Prior to their combination, SCC and LPSS provided unique products to different customer bases. Both have been pioneers in providing quality emergency telecomm-unications products and services. The combination of their strengths has created a technology leader, subsequently renamed INTRADO. The sale required the solution of complex valuation, positioning and structural issues and was accomplished within strict confidentiality guidelines.

THE KODIAK GROUP, INC.
Pittsfield, Massachusetts

A Leading Provider of Business-to-
Business Electronic Commerce Services
to Fortune 1000 Companies
was Acquired by

AppNet, Inc.

Subsequently Acquired by

Commerce One, Inc.

The Undersigned Served as Financial
Advisor to The Kodiak Group in
Connection with this Transaction.

The Kodiak Group, Inc.

Carreden acted as financial advisor in the sale of the Company to AppNet, Inc., a strategic buyer. The sale was accomplished during a turbulent period for technology stocks and within strict confidentiality guidelines established by the selling Kodiak shareholders.

AppNet was funded by one of the most successful leveraged buyout firms in the U.S. and grew rapidly by acquisitions. Less than a year following the Kodiak acquisition, AppNet went public at a valuation significantly higher than its valuation at the time of the Kodiak purchase. Those former Kodiak shareholders who followed Carreden's recommendation to take part of the Kodiak purchase price in AppNet shares were handsomely rewarded a second time when AppNet became a public company.

REYNOLDS BROS., INC.
Lakewood, New Jersey

A Chain of 28 Specialty Ladies
Apparel Stores Operating Under
the "Reynolds" and "Rafters Names
Has Been Sold to a Strategic Purchaser.

The Undersigned Served as Financial
Advisor to the Seller in Connection with
this Transaction.

Reynolds Bros., Inc.

Carreden acted as financial advisor in the successful sale of this 30-year old specialty retailer. Due to a particularly severe and prolonged slump in specialty ladies apparel retailing at the time the Company was offered for sale, Carreden contacted over 225 likely candidate purchasers. These marketing efforts identified a strategic buyer interested in acquiring the Company and retaining all of its employees and facilities.

$165,000,000


LIVE ENTERTAINMENT
Van Nuys, California

Has been taken private in a
leveraged buyout by an
institutional investor group including:

Bain Capital, LLC and Richland,
Gordon & Co.

The undersigned acted as financial
advisor to Live Entertainment, initiated
discussions with the purchaser and
assisted in the negotiations.

LIVE Entertainment

Carreden was retained to assist in rationalizing the balance sheet of this publicly held motion picture producer and distributor. The Company's convoluted balance sheet was the product of the Company's reorganization in bankruptcy several years prior. Working in close cooperation with Management, Carreden delivered to the Board of Directors two distinctly different, fully financed strategic options. The first was a restructuring of the Company's balance sheet and the second was a leveraged buy-out of the entire Company. After careful consideration, the Board decided that the buy-out proposal was in the best interests of all shareholders and voted to accept that alternative.