Representing the Firm
We are pleased to introduce our most recent step towards continued growth and success. As of March 17, 2008, Ren-Cap Holdings, Inc. has been renamed The Renaldi Group, Inc. With this transformation, we are excited to offer new investment vehicles, additional products and services, and a redeveloped corporate structure to better serve our client’s needs. Though we have changed our name, we remain committed to the integrity, candor, and dedication that Ren-Cap Holdings has become recognized for.

The Market
2008 has been full of unknown expectations involving the current credit crunch, rising crude oil prices, and the continued devaluation of the U.S. dollar. Such market conditions are not for the faint of heart. As FOMC Chairman Ben Bernanke stated earlier this year, “The financial situation remains fragile and many funding markets remain impaired.” While such a pessimistic and fearful investor environment is clearly present in the public markets, this mindset is being erroneously applied to the private equity industry.

Growth
Although 2008 has started as a volatile year, The Renaldi Group (hereinafter, “TRG”) has only grown. In fact, TRG has thrived...
* Grown 500% by integrating 30 new individuals to service current demand
* Expanded the Advisory Board to help evaluate new opportunities
* Taken on 6 new investments and is currently evaluating 10 for the upcoming quarter
* Exploring satellite offices in Silicon Valley and the Southeastern U.S.
* Implemented new investment products & services, including the expansion of our Advisory Division, Mergers & Acquisitions Division, and Capital Markets Division
* Expanded our investment vehicles to include PIPE financing and new funds such as the Ren-Cap Ventures I, LP

How?
While well-known investment firms reliant on the public markets are downsizing, TRG continues to grow and develop. This simple fact alone illustrates the stark differences between private equity investment firms such as TRG, and those affected by the tightened credit standards and increased volatility shown in the public markets. Though anxiety over the future financial atmosphere may be warranted, this financial fear is not applicable to TRG. We at TRG act as direct investors in many companies that are unknown to the general investing public but are very familiar to us, thus limiting our investment exposure to companies we comprehensively understand. TRG has taken account of the current market turmoil and has acted accordingly by growing our capabilities to harness additional opportunities and the swelling demand from investors looking for alternatives to the public markets as well as entrepreneurs seeking capital during this unprecedented credit crunch.

A Golden Age
Although there are many conflicting theories about the health of the financial system, we believe that the current market turbulence equates to a Golden Age for sound investments in private companies that are grounded with solid business acumen. The Renaldi Group was founded and built on a simple but important focus - “Evolution not Revolution” and continues to utilize its strategic, time-proven methods for prolonged success, not the latest fad in the industry. Built on a solid base of research and analysis, industry understanding, and individual focus, The Renaldi Group will continue to work closely with its clients and their financial goals well into the future.