PART OF ROMNEY'S TESTIMONY

22 THE WITNESS:    Typically acquire the
23 whole   company,   although   in  many   instances  we will
24 acquire less than the entire position.     We might -
25 as a matter of  fact,   there are several situations

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1 where we've acquired a minority position in an
2 existing  company.     None of   them   have  been public;
3 they're all private companies which we acquire
4 either   a   position   in or  the  entire  company. Just
5 as a  for instance,  we acquired 70 percent of the
6 common   stock  of   an   oil   field  equipment company,
7 but   we  did  not   acquire   any  of   the   $150  million of
2 existing   company.     None  of   them   have  been public;
3 they're all private companies which we acquire
4 either   a   position   in or  the  entire   company. Just
5 as a  for instance,  we acquired 70 percent of the
6 common   stock  of   an   oil   field  equipment company,
7 but we did not  acquire any of  the $150 million of
8 preferred   stock  that  was   already  existing   at the
9 company.
10 Q.       You deal   in both preferred and common
11 stock?
12 A. Yes.
13 Q.      And with respect to the volume of business
14 done   by  your  company  can  you   help   us   as   to the L5 total   funding that you handle?
16 A.        Yes.     Of   equity  capital which  we manage,
L7 the   total   of   our   funds   -   let  me   just   calculate in
L8 my mind--