Portfolio Manager joins K&A Team
Expands Investment Strategies offered by K&A Asset Management, LLC

Napa, CA. – August 30, 2005 -- Dr. Claus te Wildt will join K&A Asset Management, LLC (K&A), a Registered Investment Advisor in Napa, CA, as a portfolio manager and member of the Investment Policy Committee.

Dr. te Wildt will be managing investment portfolios offered through K&A that are based on two strategies that he has developed at teMac Investments, LLC, a Registered Investment Advisory firm in Walnut Creek, CA. Furthermore, he will also assist K&A’s Chief Investment Officer, Paul Krsek, in his management of K&A’s existing portfolios.

With the addition of te Wildt, K&A will be able to offer three distinct portfolio strategies that will allow its clients to better match their investment portfolio choices regarding their needs for diversification, risk tolerance and investment horizons.

One of the two new portfolio strategies is based on te Wildt’s medium to long term global value strategy developed at teMac. Portfolios managed under this strategy will invest in global long term economic themes without being restricted by specific benchmarks. The investments universe will consist of stocks, indices, bonds, mutual funds, commodities and foreign currencies. As a result the portfolio’s return profile is for most periods uncorrelated with a traditional asset allocation strategy and provides therefore diversification to investors who have the majority of their assets in the US.

The second new portfolio strategy takes aspects of the global value strategy one step further by offering diversification in a more concentrated form but with a lot higher volatility. This strategy was also developed at teMac and invests solely in small- to midcap Gold and Silver Mining Companies. This strategy is most suitable for investors who seek diversification, have a high tolerance of risk and a long time horizon.

The third portfolio strategy is K&A existing strategy currently run by Krsek and is seeking absolute returns annually with low volatility characteristics in the framework of a traditional asset allocation strategy. With the addition of te Wildt, K&A will get access to some of the global economic themes te Wild is pursuing in his portfolios which will lead to a greater diversification and internationalization of K&A’s existing portfolio strategy. Dr. te Wildt will advise on strategy and tactics for these portfolios in his role as a member of K&A Investment Policy Committee which is already comprised of Paul Krsek and Rob Andreae, the current principal owners of K&A, and Nancy Widener, Chief Compliance Officer of K&A. The committee will be responsible for establishingand monitoring investment policy and guidelines for all portfolios managed by K&A. Krsek will remain Chief Investment Officer.

“We are extremely excited about expanding our investment offerings to our existing client base as well as our future clients”, says K&A managing member, Paul Krsek. “We have been talking with Claus for nearly two and a half years about finding a way to work together. This situation is ideal. He will become an integral member of our investment management team, while continuing to serve his existing clients independently.”

About Claus te Wildt
Claus te Wildt is a founder and Managing Director of teMac Investments, LLC (teMac) in Walnut Creek, CA, and will also continue to act in that capacity. He is also a Director of Alpha Gold Corporation a publicly traded Canadian Gold exploration company. He is married; has two children and currently resides in Walnut Creek, Ca.

Prior to founding teMac Investment Partners, LLC in 2003 Claus te Wildt was a member of Dresdner Asset Management’s Global Management Board. Furthermore, as member of Dresdner RCM San Francisco’s Executive Committee he helped to facilitate the strategic planning and organizational development of the firm in the US. Before joining Dresdner in August of 1998 Claus worked at GT Global.

Prior to that, he worked for three years with Bain & Company in Boston and with Deutsche Bank in London and Dortmund, Germany. Claus completed a Bachelor's equivalent degree at the University of Regensburg in Germany. He also earned an MBA from the University of Colorado and a Doctorate in Business Finance from the University of Kiel in Germany. He is a native of Germany and proud Citizen of the USA.

About Paul Krsek
Paul Krsek is the founder and managing member of K&A Asset Management, LLC (K&A). K&A manages money for private clients, retirement plans and non-profit organizations.

Mr. Krsek is also one of three organizers, and past-President of First California Northern Bancorp, a California bank holding company. First California Northern Bancorp has since been sold to Capitol Bancorp, LTD. a public bank holding company whose stock trades on the NYSE under the symbol CBC. He currently serves on the Board of Directors of the First California Region of Capitol Bancorp, LTD. Mr. Krsek is also a cofounder of Napa Community Bank (NCB) in Napa, CA. and currently serves as a nonvoting Advisory Director to NCB. K&A is an affiliate of Napa Community Bank and provides investment services to clients of Napa Community Bank through an exclusive consulting relationship.

Mr. Krsek is also co-founder and past-President of Predictive Financial Technologies, LLC (PFT) a hedge fund manager. PFT has formed a joint venture with Olsen Data, of Zurich, Switzerland to manage foreign exchange funds in the United States. He is in the process of forming a new hedge fund called K&A Specialist Advisors Partners, LP also in conjunction with Olsen Data and three other money management firms.

Prior to forming K&A in 1998, Mr. Krsek was employed in various capacities, from 1990-1998, by Edward Jones & Co., an NYSE member firm based in St. Louis, Missouri. Mr. Krsek was employed, from 1983-1989, by Angeles Corporation in Los Angeles, California. From 1985-1989 he served as President, CEO, and Director of Angeles Securities Corporation. He also served as Executive Vice President and Director of Angeles Corporation, the parent company, a publicly held diversified financial services firm which managed approximately $4.4 billion in stock, bond, and real estate assets.

Prior to 1983 he was self employed as a financial planner in Minneapolis, Minnesota. He was also very active in investment activity for his own account as well as for private clients.

After leaving Angeles Corporation in 1989 Mr. Krsek and his family moved to the Napa Valley where he has lived and worked ever since. He has become an integral member of the community, having served on many non-profit boards, and in various service capacities, including his personal favorite, the St. Helena Rotary Club. He is a frequent guest speaker for business groups in the Napa and Sonoma Valleys and author of several articles that have appeared in various newspapers and periodicals.

Mr. Krsek has a BA in Sociology from Shippensburg University of Pennsylvania and is a graduate of the Executive Management Program of the Anderson Graduate School of Management at UCLA. He is married; has three children; and currently resides in Napa, CA.

About Rob Andreae

For over 30 years, Mr. Andreae has worked in various capacities in the corporate and business community, both internationally and domestically. For the past 20 years, he has been a principal in two firms, one specializing in real estate development, and most recently K&A Asset Management LLC, a registered investment advisor.

Prior to that, Mr. Andreae was Vice President, Investment Management and Trust Services for The Mechanics Bank. He has also served in management capacities division of Security Pacific Bank (now Bank of America) and American President Lines, where he served as manager of the Tokyo, Japan operations.

He has served on many non-profit boards, including being a past president of the Community Foundation of the Napa Valley, past-President of St. Helena Rotary, pastchairman of the Rotary Winter Ball, and currently the Chairman of the St. Helena Chamber of Commerce.

He has a Bachelor of Science degree from Western Michigan University and a Masters from the American Institute for Foreign Trade. He resides in St. Helena, California with his wife, Linda, and their three children.

Disclosure and Disclaimer (updated 11/28/05):

E-lluminations and Illumination are proprietary newsletters written for clients, friends, and affiliates of K&A Asset Management, LLC (K&A).

Paul Krsek is the sole author of E-lluminations. While the views and representations found in the newsletter generally reflect the attitudes and opinions of the K&A Asset Management “team”, Krsek writes without editing and therefore is solely responsible for the content and opinions contained in E-lluminations.

Illumination is normally published as a joint effort by Robert Andreae and Paul Krsek.

Neither E-lluminations nor Illumination represents the opinions of Fidelity, Fidelity Institutional Brokerage Group, NFS or any Fidelity affiliates. Neither Fidelity, Fidelity Institutional Brokerage Group, nor NFS has participated in the creation of E-lluminations or Illumination and they are not responsible for their contents or distribution.

E-lluminations and Illumination are written to provide general information to clients, friends, and affiliates. They are not to be taken as individual investment advice. No investment decisions should be made based on the opinions or information offered in E-lluminations and Illumination. 

K&A does not represent that this information is accurate or complete and it should not be relied upon as such. Opinions expressed herein are subject to change or modification without notice.

The investment portfolio models or management services mentioned in E-lluminations or Illumination may or may not be available in some states, and they may not be suitable for all types of investors.

The advisor representatives at K&A manage accounts with various histories and investment objectives. Various accounts may be managed differently from time to time, and by different individuals acting as investment advisor representatives.

Lead portfolio managers are assigned to make all trading decisions if an account is being managed according to a specific portfolio model. The Lead Managers assigned to various portfolio models are identified on our website at http://www.kaassets.com/choices.htm

Some accounts managed by K&A are managed individually and not subject to the discipline of a particular model portfolio. Individual advisor representatives assigned to an account have the authority to make decisions related to that account. K&A Asset Management, LLC, as an entity, does not manage investment accounts. Individual advisor representatives, or teams of advisor representatives manage accounts. Please refer to your K&A Asset Management agreement for specifics related to this disclosure and be sure that you understand who at K&A is actually managing your money.

The investment objectives of various accounts may be substantially different from one another. Therefore topics or investments mentioned in E-lluminations and Illumination may or may not apply to specific managed accounts.

Trades or adjustments to accounts mentioned in E-lluminations or Illumination may or may not happen in every account managed by advisor representatives at K&A. Advisor representatives are not responsible to manage every account similarly. Advisor representatives are responsible to manage accounts according to their understanding of the investment objectives, suitability and time frames of the owner of the account.

If you are not satisfied with the investment results in your account it is your responsibility to inform your advisor representative and to discuss possible changes that can be made to the account to accommodate and satisfy your needs.

The assets held in managed accounts at K&A Asset Management, LLC may include stocks, bonds, cash, commodities, foreign exchange or mutual funds, money market accounts or limited partnerships that represent the same. They are subject to market fluctuation and the potential for losses. The assets are not insured. The value and income produced by these investment products may fluctuate, so that an investor may get back less than they initially invested.

The advisor representatives at K&A Asset Management, LLC do not guarantee results.

Past performance should not be considered an indicator of potential future performance. If you do not consider yourself suitable, either emotionally or financially, to experience volatility and/or losses in financial markets, you should not invest.

This document is for information purposes only and it should not be regarded as an offer to sell or as a solicitation of an offer to buy any securities or other instruments mentioned in it.

Sincerely,

Paul Krsek
Updated: November 28, 2005

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