Cairn Investments Portfolio
:: Private Companies ::

Aklero Process Solutions - www.aklero.com provides a web-based platform that streamlines and safeguards the mortgage
process by automating the pre-closing and post-closing analysis of loan documentation.

Biopticon Corporation - www.biopticon.com uses its Tumor Management System to make measurements of subcutaneous tumor volumes and
lesion areas on small lab animals such as mice and rats and manage tumor data over time.

Carnegie Speech Company -
www.carnegiespeech.com is the premier developer of software for assessing and teaching spoken language skills.

Hardbikes - www.hardbikes.com is a mass manufacturer of custom motorcycles producing unique art-form motorcycles at “reprint prices” by employing
custom manufacturing technology.

IdentiGEN Ltd. - www.identigen.com is a leading provider of DNA-based solutions to the agri-food industry with major operations in Ireland and the U.S.

Melior Discovery Inc. -
www.meliordiscovery.com has pioneered a unique, optimized, high throughput pharmacology platform that is able to systematically identify novel indications for pre-clinical and development stage drug candidates.

Molecular Detection Inc.-
www.detect-ready.com is developing and commercializing a portfolio of "sample-to-answer" Detect-Ready™ molecular diagnostic tests for the rapid detection of infectious diseases.

NanoPack Inc. - www.nanopackinc.com is a materials science company that develops and markets cost-effective, environmentally friendly barrier materials for the packaging industry.

Preclick - www.preclick.com is a media asset management software company founded to provide digital photographers the fastest, easiest and most convenient way to organize, print, preserve and share their digital photos. Company sold to Smilebox, Inc. www.smilebox.com in July 2009.

Protez Pharmaceuticals - www.protez.com develops new antibiotics to combat the growing problem of drug resistance, as well as agents that improve the efficacy of current antibiotics. Company sold to Novartis www.novartis.com in June 2008.

SkillSurvey - www.skillsurvey.com Pre-Hire 360® is web-based software that delivers all the information you wished you could obtain through your phone-based reference checking, and that's just for starters!

STARR Life Sciences Corp. -
www.starrlifesciences.com has created the world’s first and only technology that can non-invasively diagnose and monitor the health and lungs of mice and rats that are utilized throughout medical research and pre-clinical trials of new pharmaceuticals.

TicketLeap - www.ticketleap.com brings professional-grade ticketing to events too small to get the attention of the big ticketing companies.

Yaupon Therapeutics Inc. -
www.yaupontherapeutics.com is a specialty pharmaceutical company that develops small molecule pharmaceuticals licensed from under-served academic laboratories.
:: Public Companies ::

Geron Corporation - (NASDAQ: GERN)
www.geron.com is developing first-in-class biopharmaceuticals for the treatment of cancer and chronic degenerative diseases, including spinal cord injury, heart failure and diabetes.

NovaDel Pharma Inc. - (AMEX: NVD)
www.novadel.com is a specialty pharmaceutical company developing oral spray formulations of a broad range of marketed therapeutics.

Orchid Cellmark - (NASDAQ: ORCH)
www.orchidcellmark.com has been a leader in the genetic testing field for almost 30 years.

PepsiCo - (NYSE: PEP) www.pepsico.com is a world leader in convenient snacks, foods and beverages.

Red Robin Gourmet Burgers, Inc. - (NASDAQ: RRGB)
www.redrobin.com was founded on four core values: Honor, Integrity, Continually Seeking Knowledge and Having Fun.

Tepnel Life Sciences - (AIM:TED)
www.tepnel.com is a UK-based international life sciences products and services group with two main divisions, Molecular Diagnostics and Research Products & Services. Company sold to Gen-Probe, Inc.
www.gen-probe.com in April 2009.

Yum! Brands, Inc. - (NYSE: YUM) www.yum.com is the world's largest restaurant company in terms of system restaurants with more than 36,000 restaurants in over 110 countries and territories and more than 1 million associates.
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