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Colleagues:

I'm sorry for using FRIAM to communicate with just a few individuals in the group, but I
don't have everyone's individual email addresses. Also some others of you might be
interested in inexpensive office space as well.

As you know, Rio Grande Venture Partners has recently taken a terrific office space with 8
offices, a huge, brick-floored, skylighted common reception/conference area, private his &
hers restrooms, and kitchenette area, all built around a really pretty garden patio, which
is secured by an iron gate and walls. It is an old adobe building (which formerly was law
offices) at 204-A North Guadalupe Street, right at the intersection of Johnson Street,
between Charles Schwab and the EGO Hair Salon. There is a cozy, hardwood-floored room
downstairs which we would like to turn into a common library/lounge/small private
conference room, but that will depend on if we can rent the available offices ... but
that's our plan

We have 4-5 offices available at present (2-4 people each), which some of you (Owen, Roger
F., Steve, and Dan) have seen and are considering. Two large offices - the nicest - are
upstairs, have hardwood floors, and views of the mountains. They are VERY private. The
building is airconditioned in the Summer. The offices Rutt is considering is at the OTHER
end of the building, up a couple of steps from the "Great Room". It is an extremely
presentable office space for business purposes ... very professional ... and will be
reasonably elegant when we're through decorating. The BIOS furniture - which we'll provide
for those who take the space - is quite nice. We have 6 dedicated parking spaces in front,
but I've worked out a deal with the people next door to rent us additional spaces @
$35/month as we see the need ... which we ultimately will. Bottom line is that parking
will NOT be a problem.

The phones at the office are now fully functional (820.6340) with 3 rollover lines, one of
which will be a common fax line when we get a machine on it. The DSL (synchronous 640k in
both directions) line is in, we have the router and hub, and Tim (the BIOS network tekkie)
will make sure it actually works ... probably by Friday. There is a network jack in every
office and in the common reception/conference area, and the router/hub is WiFi ready too,
for those of you who don't like hardwire.

The heat is on at last, and we're about ready to start working from there next week. We've
still got some more furniture to buy from BIOS as it becomes available over the next few
days, and I'm hoping that we can talk you Redfish guys and Jim Rutt's new complexity-based
enterprise into taking our extra offices. If anyone else is interested, please call me or
drop me a line, and I'll give you a tour. There IS some interest from other folks, but
we'd rather share the space with friends and colleagues, and pass on the low space-cost to
youWe'll provide most of the basic office furniture (desks and office chairs, large
whiteboards,etc.) for everyone. All offices have multi-line (12-line) telephone
instruments, and although our 3 lines presently go to ALL of the 8 offices and jacks in
the central reception/conference area, it can easily be reconfigured such that Redfish or
RuttGroup lines will go only to those respective offices. So no one has to install a new,
separate phone system ... only the cost to Qwest of adding the additional lines. The
building is also network-wired, so if anyone wanted to add their own T-1 or DSL line, it's
pretty straightforward, but otherwise the DSL line is already there for everyone's use. We
want $400/office (friends & colleagues price), and would ask that everyone share the PNM
bill based on square footage of your offices. Sharing the space would guarantee our
absolute control over the entire building long term, and will keep the space-cost down for
all of us. AND it would be interesting to have a bunch of complexity and
complexity-finance people together.

You all have "first dibs". Please let me know if you're interested, else we'll talk to
some other folks who have also expressed interest. Either drop me a note or call me at
690.0407 (new celphone number).

Thanks,

____________________________________________

Richard C. Cassín, Ph.D., Managing Director
Rio Grande Venture Partners LLC
Cassin@ RioGrandeVentures.com

204 North Guadalupe Street
Santa Fe, NM 87502
505.820.6340

____________________________________________

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<DIV><FONT face=3DArial size=3D2><SPAN=20
class=3D560572801-26022003>Colleagues:</SPAN></FONT></DIV>
<DIV><FONT face=3DArial size=3D2><SPAN=20
class=3D560572801-26022003></SPAN></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2><SPAN class=3D560572801-26022003>I'm =
sorry for using=20
FRIAM to communicate with just a few individuals in the group, but I =
don't have=20
everyone's individual email addresses. Also some others of you might be=20
interested in inexpensive office space as well.</SPAN></FONT></DIV>
<DIV><FONT face=3DArial size=3D2><SPAN=20
class=3D560572801-26022003></SPAN></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2><SPAN class=3D560572801-26022003>As you =
know, Rio=20
Grande Venture Partners has recently taken a terrific office space with =
8=20
offices, a huge, brick-floored, skylighted common =
reception/conference=20
area, private his & hers restrooms, and kitchenette area, all built =
around a=20
really pretty garden patio, which is secured by an iron gate and walls. =
It is an=20
old adobe building (which formerly was law offices) at 204-A North=20
Guadalupe Street, right at the intersection of Johnson Street, between =
Charles=20
Schwab and the EGO Hair Salon. There is a cozy, hardwood-floored room =
downstairs=20
which we would like to turn into a common library/lounge/small private=20
conference room, but that will depend on if we can rent the available =
offices=20
... but that's our plan</SPAN></FONT></DIV>
<DIV><FONT face=3DArial size=3D2><SPAN=20
class=3D560572801-26022003></SPAN></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2><SPAN class=3D560572801-26022003>We =
have 4-5 offices=20
available at present (2-4 people each), which some of you (Owen, Roger =
F.,=20
Steve, and Dan) have seen and are considering. Two large offices - the =
nicest -=20
are upstairs, have hardwood floors, and views of the mountains. They are =
VERY=20
private. The building is airconditioned in the Summer. The offices Rutt =
is=20
considering is at the OTHER end of the building, up a couple of steps =
from the=20
"Great Room". It is an extremely presentable office space for business =
purposes=20
... very professional ... and will be reasonably elegant when we're =
through=20
decorating. The BIOS furniture - which we'll provide for those who take =
the=20
space - is quite nice. We have 6 dedicated parking spaces in front, but =
I've=20
worked out a deal with the people next door to rent us additional spaces =
@=20
$35/month as we see the need ... which we ultimately will. Bottom line =
is that=20
parking will NOT be a problem.</SPAN></FONT></DIV>
<DIV><FONT face=3DArial size=3D2><SPAN=20
class=3D560572801-26022003></SPAN></FONT> </DIV>
<DIV><FONT><SPAN class=3D560572801-26022003>
<DIV><SPAN class=3D950144400-26022003><FONT face=3DArial size=3D2>The =
phones at the=20
office are now fully functional (820.6340) with 3 <SPAN=20
class=3D560572801-26022003>rollover </SPAN>lines<SPAN=20
class=3D560572801-26022003>,</SPAN> <SPAN =
class=3D560572801-26022003>one of=20
</SPAN>which will be a <SPAN class=3D560572801-26022003>common =

</SPAN>fax line when we get a machine on it. The DSL <SPAN=20
class=3D560572801-26022003>(synchronous 640k in both directions) =
</SPAN>line=20
is <SPAN class=3D560572801-26022003>in</SPAN>, we have the router =
and hub,=20
and Tim (the BIOS network tekkie) will make sure it actually works  =
...=20
probably by Friday. There is a network jack in every office<SPAN=20
class=3D560572801-26022003> and in the common reception/conference =
area</SPAN>,=20
and the router/hub is WiFi ready too<SPAN class=3D560572801-26022003>, =
for those=20
of you who don't like hardwire.</SPAN> </FONT></SPAN></DIV>
<DIV><SPAN class=3D950144400-26022003><FONT face=3DArial=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D950144400-26022003><FONT face=3DArial><FONT =
size=3D2>The heat is=20
on<SPAN class=3D560572801-26022003> at last</SPAN>, and we're about =
ready to start=20
working from there<SPAN class=3D560572801-26022003> next week</SPAN>. =
We've still=20
got some more furniture to buy from BIOS as it becomes available<SPAN=20
class=3D560572801-26022003> over the next few days</SPAN>, and I'm =
hoping that we=20
can talk <SPAN class=3D560572801-26022003>you</SPAN> Redfish =
guys and=20
Jim Rutt's new <SPAN class=3D560572801-26022003>complexity-based=20
</SPAN>enterprise into taking our extra offices. <SPAN=20
class=3D560572801-26022003>If anyone else is interested, please call me =
or drop me=20
a line, and I'll give you a tour. There IS some interest from other =
folks, but=20
we'd rather share the space with friends and colleagues, and pass on the =
low=20
space-cost to you</SPAN>We'll <SPAN =
class=3D560572801-26022003>provide</SPAN>=20
most of the basic office furniture (desks and office chairs<SPAN=20
class=3D560572801-26022003>, large whiteboards,etc.</SPAN>) for =
everyone. All=20
offices have multi-line (12<SPAN=20
class=3D560572801-26022003>-line</SPAN>) telephone instruments, and =
although=20
our 3 lines presently go to ALL of the 8 offices and jacks in the =
central=20
reception/conference area, it can easily be reconfigured such that =
Redfish or=20
RuttGroup lines will go only to those respective offices. So no one =
has to=20
install a new, separate phone system ... only the cost to Qwest of =
adding the=20
additional lines. The building is also network-wired, so if anyone =
wanted=20
to add their own T-1 or DSL line, it's pretty straightforward<SPAN=20
class=3D560572801-26022003>, but otherwise the DSL line is already there =
for=20
everyone's use</SPAN>. <SPAN class=3D560572801-26022003>We want =
$400/office=20
(friends & colleagues price), and would ask that everyone share the =
PNM bill=20
based on square footage of your offices. </SPAN>Sharing the =
space would=20
guarantee our absolute control over the entire building<SPAN=20
class=3D560572801-26022003> long term</SPAN>, and will keep the =
space-cost down=20
for all of us. AND it would be interesting to have a bunch of complexity =

and <SPAN =
class=3D560572801-26022003>complexity-</SPAN>finance <SPAN=20
class=3D560572801-26022003>people</SPAN> together.<SPAN =
class=3D560572801-26022003>=20
</SPAN></FONT></FONT></SPAN></DIV>
<DIV><SPAN class=3D950144400-26022003><FONT face=3DArial><FONT =
size=3D2><SPAN=20
class=3D560572801-26022003></SPAN></FONT></FONT></SPAN> </DIV>
<DIV><SPAN class=3D950144400-26022003><FONT face=3DArial><FONT =
size=3D2><SPAN=20
class=3D560572801-26022003>You all have "first dibs". Please let me know =
if you're=20
interested, else we'll talk to some other folks who have also expressed=20
interest. Either drop me a note or call me at 690.0407 (new celphone=20
number).</SPAN></FONT></FONT></SPAN></DIV>
<DIV><SPAN class=3D950144400-26022003><FONT face=3DArial><FONT =
size=3D2><SPAN=20
class=3D560572801-26022003></SPAN></FONT></FONT></SPAN> </DIV>
<DIV><SPAN class=3D950144400-26022003><FONT face=3DArial><FONT =
size=3D2><SPAN=20
class=3D560572801-26022003>Thanks,<BR></SPAN></FONT></FONT></SPAN></SPAN>=
</FONT><IMG=20
height=3D69 alt=3D"Richard small signature.JPG (2360 bytes)"=20
src=3D"cid:560572801@26022003-2a44" width=3D100></DIV></DIV>
<DIV>
<DIV>
<DIV>
<DIV>
<P><FONT color=3D#000080>      <SPAN=20
class=3D340533117-13062002> </SPAN> ___________________________=
_________________<?xml:namespace=20
prefix =3D o ns =3D "urn:schemas-microsoft-com:office:office" =
/><o:p></o:p>=20
</FONT></P>
<DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-RIGHT: 2.25in"><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"><SPAN=20
style=3D"mso-spacerun: yes">  <FONT color=3D#000080><SPAN=20
class=3D910462500-13062002>     </SPAN></SPAN><S=
TRONG>=20
</STRONG><BIG>  </FONT><STRONG><FONT color=3D#0080c0>Richard C. =
Cass=EDn,=20
Ph.D., <EM>Managing=20
Director</BIG><BR>         &=
nbsp;        =20
</EM><BIG>  Rio Grande Venture Partners LLC</BIG><EM><BR><SPAN=20
class=3D180355416-13062002>       &nbs=
p;          =20
</SPAN></EM>      <SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Cassin@=20
RioGrandeVentures.com</SPAN><SPAN=20
style=3D"mso-spacerun: yes"> <EM> <SPAN=20
class=3D910462500-13062002>       &nbs=
p;        </SPAN></EM> <SPAN=
=20
class=3D910462500-13062002>       &nbs=
p;        <SPAN=20
class=3D180355416-13062002>   </SPAN></SPAN> </SPAN><=
/FONT></STRONG></SPAN></P>
<P class=3DMsoNormal style=3D"MARGIN-RIGHT: 2.25in"><STRONG><FONT=20
color=3D#0080c0><SPAN=20
style=3D"mso-spacerun: yes">    </SPAN><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">           =
          <SPAN=20
class=3D180355416-13062002>  </SPAN> </SPAN><SPAN=20
class=3D180355416-13062002>  </SPAN><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">204 North Guadalupe=20
Street</SPAN></FONT><SPAN class=3D180355416-13062002><BR><FONT =
face=3DArial><FONT=20
color=3D#0080c0><SPAN=20
style=3D"mso-spacerun: =
yes">           &n=
bsp;           &nb=
sp; <SPAN=20
class=3D180355416-13062002>   </SPAN></SPAN>  &n=
bsp;=20
<SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"><SPAN=20
style=3D"mso-spacerun: yes">  =
</SPAN></SPAN></FONT></FONT><SMALL><FONT=20
face=3DArial><FONT color=3D#0080c0>  Santa Fe, NM <SPAN=20
class=3D180355416-13062002>87502</SPAN><BR><SPAN=20
style=3D"mso-spacerun: =
yes">           &n=
bsp;           &nb=
sp;     <SPAN=20
class=3D180355416-13062002>   </SPAN> <SPAN=20
class=3D180355416-13062002> </SPAN></SPAN>    <SPAN=20
style=3D"mso-spacerun: yes"><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"> </SPAN></SPAN>  =
<SPAN=20
class=3D180355416-13062002><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"></SPAN></SPAN>505.<SPAN=20
class=3D560572801-26022003>820.6340</SPAN></FONT></FONT></SPAN></SMALL></=
STRONG></P>
<P class=3DMsoNormal style=3D"MARGIN-RIGHT: 2.25in"><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">    <SPAN=20
class=3D500442317-13062002> </SPAN> </SPAN><FONT =
color=3D#000080><SPAN=20
class=3D340533117-13062002> </SPAN> ___________________________=
<SPAN=20
class=3D340533117-13062002>_</SPAN>_______________<SPAN=20
class=3D060420120-24092001>_</SPAN></FONT></P></DIV></DIV></DIV></DIV>
<P><SPAN class=3D180355416-13062002></SPAN><BR></P>
<P><BR></P>
<P><BR> </P></DIV></DIV>
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