March 11, 2004

To Whom It May Concern

RE: Stewart B. Rosenberg. BIO-INVESTIGATIONS, LTD.

I have known Stewart Rosenberg for ten years. I am pleased to provide a positive referral recommendation based on my experiences of doing business with him.

I have engaged Stewart’s professional services in a business development role three times, each time concerning the commercialization of technology, which is our prime business at ARC, Inc. Stewart has assisted us in identifying potential commercialization partners, in arranging high-level meetings, and in providing expert advice on commercialization strategy.

Stewart’s solid technical background and his active involvement in technology assessment are significant factors in his providing a high quality professional product. His work is unfailingly thorough and reliable. He does his homework and does not flinch from hard work or extended hours. One of Stewart’s personal attributes that I respect and admire is his integrity in keeping commitments. When he says he will do something, I can rely on him to do it, on time and on budget. Stewart is a responsible businessman.

I recommend Stewart with confidence.

Sincerely,

J. M. Curtis
Manager,
Environmental Technologies Business Unit
Alberta Research Council, Inc.