1. © RAN ONE Inc. 2004 - Page 1 J.R. HAY & COMPANY INC. CHARTERED ACCOUNTANTS Do you know what your business is worth? Do you understand what drives the value of your business? Do you know how value is determined? Is this you?

2. © RAN ONE Inc. 2004 - Page 2 J.R. HAY & COMPANY INC. CHARTERED ACCOUNTANTS How can Valuing Your Business ™ help? Fair market price for business, i.e. amount that a willing buyer pays to a willing seller in an arms length transaction Objective value of what business is worth How much value you have added to the business

3. © RAN ONE Inc. 2004 - Page 3 J.R. HAY & COMPANY INC. CHARTERED ACCOUNTANTS Our four phase approach to Valuing Your Business ™ … Phase One: Review strategic valuation issues Phase Two: Assess business’ current position Phase Three: Determine value under various methods Phase Four: Judge fair value Phase Three Phase Four Phase One Phase Two

4. © RAN ONE Inc. 2004 - Page 4 J.R. HAY & COMPANY INC. CHARTERED ACCOUNTANTS You need to know the value of your business to establish its worth Don’t negotiate on matters without some certainty about the value of your business Valuation requires professional expertise and judgment Why you need to do this… Exit