Dear Venture Capital or Private Equity Tax Professional,

Investments into private equity and venture capital funds are at an all-time high, with market insiders predicting that as much as $200 billion could be raised in 2006. Despite the ebullient market climate, new and ever-changing tax regulations and legislation are being implemented, creating challenges for Tax Managers, CFOs and Controllers who must minimize tax costs and maximize returns.

Redesigned and Updated Agenda
IIR's 5th Annual Venture Capital and Private Equity Tax Practices has been redesigned and updated to ensure you receive the complex and comprehensive information you need to establish and maintain your competitive advantage in the marketplace, and has been arranged to appeal to a West Coast audience. This industry-leading event will take place October 23-25, 2006 at the Marriott Fisherman's Wharf in San Francisco.

In direct response to your feedback, this event has incorporated several features and changes, including:
• Hear a full 20-session conference program, with many topics featuring expanded time slots to allow you to get more insight and answers to difficult questions
• A Full Pre-Conference Summit dedicated to inbound and outbound investment and tax strategies in China, Japan, Europe, and India, at which sessions will be led by international and local tax experts and investors
• Updates to the most important issues affecting private equity at both the fund and transactional levels, including discussion of management fees and incentives, 409A deferred compensation strategies, and valuation and accounting issues
• New small group discussion and Q&A sessions, designed to allow you the opportunity to get the answers you need to maximize your returns

Valuable Insights into the Most Popular Perennial Issues
You'll leave Venture Capital and Private Equity Tax Practices with the information you need to navigate the complex rules and regulations of setting up domestic funds, VCOCs, blockers, and reporting issues; a greater understanding of the challenging IRS rulings and regulatory updates; and specific insight into international investment strategies and taxation issues.

The Most Respected Forum For PE Tax Professionals, Fund Managers, and Investors
Known for bringing together a carefully selected, high-quality speaker faculty, Venture Capital and Private Equity Tax Practices will improve your knowledge and expertise on the complex tax challenges in this highly specialized field. Attracting more than participants, you won't want to miss this premier event.

Learn how to maximize your private equity returns by registering for IIR's Venture Capital and Private Equity Tax Practices today, by calling 888-670-8200, faxing 941-365-2507, emailing register@iirusa.com or visit our Web site at www.iirusa.com/vctax to download a full brochure.

I look forward to meeting you in October!

Sincerely,

Keith Kirkpatrick
Executive Director, Venture Capital and Private Equity Tax Practices

PS Attend Venture Capital and Private Equity Tax Practices and earn up to 25 CPE and 23 CLE credits!