Current Performance

Quorum Funding IRR Calculation
Summary of Data
Gross and Net Performance
Consolidated Technology
March 31, 2006

1. Our 19, 10 and 7 year IRR returns include all technology investments which Quorum has made to date, including "new investments" in years 1, 2 & 3.
   
2. Normally we would show 5 year results. However, in our instance Quorum's 5 year returns include the years in which Quorum, the publicly traded venture (Quorum Growth Inc.), privatized which gives artificial results. During that time period there was a moratorium on the new and critical follow-on investments as the fund was in a divestiture mode. As such, we have shown the more meaningful 7 year results, which represent the time period which Quorum managed these funds, which did not include new capital investments. This accurately reflects the investment cycle for those assets.
   
3. One, two and three year results include the QIPLP, QSET and SME investments, which are classified as the "New" funds post the privatization and divestiture of the Quorum Growth Inc. Fund
   
4. The five year numbers are available, but are not meaningful as Quorum virtually ceased new fundraising for the period 2000-2004. In this period Quorum was harvesting the final investments in the privatized Quorum Growth Inc. vehicle and diversified into real-estate.
   
5. US data from Venture Economics News reflects December 2005 data. Since inception numbers represent 20 Year IRR's.

NOTE:
Net Return = Gross return - mgt fee - admin. Expense - Carried Interest
Management Fee 2.25%
Administration 1.00%