About the Texas Growth Fund

In response to a severe economic downturn in Texas during the 1980s, the Texas Legislature established the Texas Growth Fund (the "Growth Fund") by a constitutional amendment in November 1988. Created as a trust fund, the Growth Fund was proposed as a means of using public resources to leverage private capital for investment in the state. The Growth Fund was authorized to make private equity and venture capital investments with money contributed on a voluntary basis by public pension funds and endowments in the state, and provided these investors with a "safe harbor" protection from any fiduciary liability they may have otherwise potentially faced.

The Texas Growth Fund did not initiate investing activities until its Board of Trustees hired Jim Kozlowski in May 1992 to establish an investment strategy and investment team. Mr. Kozlowski formed TGF Management at that time, and Stephen Soileau joined shortly thereafter, at which time they raised and began investing the first fund.

The Texas Growth Fund has Texas public pension funds and endowments as its investors. Four of the eligible Texas public funds committed a total of $577 million to the Growth Fund. TGF Management has invested $412 million in 42 different companies on behalf of the Texas Growth Fund during the last 16 years. All of the Growth Fund's investment funds have completed their investment periods for new investments. TGF Management will continue to manage the investments that remain in the Growth Fund trusts.

To request information from the Texas Growth Fund, please contact:

Janet Waldeier
Public Information Coordinator
c/o TGF Management Corp.
111 Congress Avenue, Suite 2900
Austin, Texas 78701

By e-mail to: tgfmgmt@tgfmanagement.com

By fax to: (512) 322-3101