At Forman Richter & Rubin, we are committed to providing to those in closely-held businesses superior, up to date and relevant accounting, auditing and tax services and have been doing so since the 1960s. In the quest of this objective, we strive to have personnel who share in our professionalism and excellence. We continue to seek growth and success without sacrificing the individual and personalized touch that brought us here. In December 1997, we opened an office in Rancho Cucamonga through the acquisition of another practice.

STICKING TO THE BASICS

As part of the Forman Richter & Rubin team, we understand that there is no substitute for hard work and professionalism. We continue to pay careful attention to detail and the needs of our clients by providing quality work and sound, logical advice.

The Forman Richter & Rubin priorities are always aimed at our clients. We place a high degree of emphasis on responsiveness and accessibility. We strive to be there when our clients need us and to provide them with accurate information to protect their interest and promote their growth. For we realize at Forman Richter & Rubin, that our success is directly dependent on the success of our clients.

In order to provide a high quality of service to our clients, we commit ourselves to keeping open lines of communication between our staff and our clients. We make it our goal to learn as much as possible about our clients' industry so that we are able to provide up to date information and anticipate client needs.

KEEPING UP WITH THE TIMES

As professionals of Forman Richter & Rubin, we cannot let ourselves rest on our past successes. We make every attempt to keep up to date with the technology needs of a successful organization operating in the 21st century. We continue to strive to be as knowledgeable as possible in the computer operation requirements of our clients.

COMMITMENT TO EDUCATION

In an economy and environment as dynamic as ours, at Forman Richter & Rubin, we understand the need to stay informed. The accounting and tax laws & regulations continue to get more complex. As a result, we place a high priority on continuing education. The professionals of Forman Richter & Rubin attend and participate in numerous courses throughout the year. Additionally, we maintain an extensive accounting library from which to disseminate the most current information to our clients.

PEER REVIEW

We are pleased to announce the successful completion of the independent quality review of our accounting and auditing practice. After a thorough study of our procedures and work practices, the reviewers concluded that our firm complies with the stringent quality control standards established by the American Institute of Certified Public Accountants (AICPA).

The review was conducted by a team of CPAs appointed by the California Society of CPAs. Using guidelines established by the AICPA, the reviewers determined that Forman, Richter & Rubin has an effective quality control system and that our accounting and auditing work conforms to professional standards.

Our continued participation in periodic quality reviews (this was our sixth) and our voluntary membership in the AICPA and California Society of CPAs support Forman, Richter & Rubin's commitment to quality and our high standards for client service. A copy of the reviewers report follows.

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Perry M. Henderson CPA, MPA

January 16, 2007

To the Partners of Forman, Richter & Rubin, an Accountancy Corporation

I have reviewed the system of quality control for the accounting and auditing practice of Forman, Richter & Rubin, an Accountancy Corporation (the firm) in effect for the year ended July 31, 2006. A system of quality control encompasses the firm's organizational structure and the policies adopted and procedures established to provide it with reasonable assurance of conforming with professional standards. The elements of quality control are described in the Statements on Quality Control Standards issued by the American Institute of Certified Public Accounts. The firm is responsible for designing a system of quality control and complying with it to provide the firm with reasonable assurance of conforming with professional standards in all material respects. My responsibility is to express an opinion on the design of the system of quality control, and the firm's compliance with its system of quality control based on my review.

The review was conducted in accordance with standards established by the Peer Review Board of the American Institute of Certified Public Accountants. During the review, I read required representations from the firm, interviewed firm personnel and obtained an understanding of the nature of the firm's accounting and auditing practice, and the design of the firm's system of quality control. The engagements selected represented a reasonable cross-section of the firm's accounting and auditing practice with emphases on higher risk engagements. The engagements selected included, among others, audits of Employee Benefit Plans, and engagements performed under Government Auditing Standards. Prior to concluding the review, I reassessed the adequacy of the scope of the peer review procedures and met with firm management to discuss the results of the review. I believe that the procedures I performed provide a reasonable basis for my opinion.

In performing the review, I obtained an understanding of the system of quality control for the firm's accounting and auditing practice. In addition, I tested compliance with the firm's quality control policies and procedures to the extent I considered appropriate. These tests covered the application of the firm's policies and procedures on selected engagements. The review was based on selected tests, therefore it would not necessarily disclose all weaknesses in the system of quality control or all instances of noncompliance with it. There are inherent limitations in the efffectiveness of any system of quality control and therefore noncompliance with the system of quality control may occur and not be detected. Projection of any evaluation of a system of quality control to future periods is subject to the risk that the system of quality control may become inadequate because of changes in conditions, or because the degree of compliance with the polices and procedures may deteriorate.

In my opinion, the system of quality control for the accounting and auditing practice of Forman, Richter & Rubin, an Accountancy Corporation in effect for the year ended July 31, 2006 has been designed to meet the requirements of the quality control standards for an acounting and auditing practice established by the American Institute of Certified Public Accountants and was complied with during the year then ended to provide the firm with reasonable assurance of conforming with professional standards.

Perry M. Henderson, CPA

Master: Public Administrator; Member: American Institute of CPAs, SEC Practice Section, California Society of CPAs, AICPA Key Legislative Contract Program, California Society of Municipal Finance Officers, California Association of Nonprofits. Present and Past service includes: Chairman, CSCPA Nonprofit Organizations Committee, Citrus Belt Chapter; Member, CSCPA Peer Review Committee; CSCPA Professional Conduct Committee; Adjunct Faculty Member, University of Redlands; Author & Lecturer.

222 East Olive Avenue, Suite 5C - Redlands, CA 92373 - Phone: (909) 792-4268 - Fax: (909) 792-5659 e-mail phmcpa@compuserve.com