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Wedbush Morgan Securities Software Conference Report

February 28, 2005

Buy ($175)

Topics covered: Sarbanes-Oxley

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CEO INTERVIEWS
Interview with the President and CEO: Travel + Leisure Co. (NYSE:TNL)
Interview with the CEO: Steakholder Foods Ltd. (NASDAQ:STKH)
Interview with the President and CEO: Farmer Bros Co. (NASDAQ:FARM)
SECTOR ROUNDTABLES
Natural Gas Weighs Heavy On E&P Near-Term Prospects
Roundtable Forum:optimism Despite Uncertainty In For-profit Education
Roundtable Forum:a Shift In Focus To Natural Gas From Oil
MONEY MANAGER INTERVIEWS
AI Opportunities Expand to Industrial, Utilities and Energy Sectors
India Fund Manager Expects Discretionary Spending to Grow
Inefficiency in Ex-US Markets Creates Opportunity to Buy at a Discount
ANALYST INTERVIEWS
Mega Retailers Take Market Share from Traditional Grocery Stores
Movie Theater Stocks See Gains in Anticipation of 2025 Blockbusters
Positive Economic Outlook Should Spur Growth in Gaming and Travel
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