VENUE : Davendar's House
DATE  : September 8th 1999

Meeting convened by : Deepak Kalra
Minutes prepared by : Deepak Sharma

Attended By (7) :
O Davendar
O Deepak Kalra
O Ranjan
O Deepak Sharma
O Srini
O Andy
O Prasad

Absent (7) :
O Venkatesh
O Ram
O Raj
O Brijinder
O Vablinder
O K.S. Modi (Relocated)
O Jaychander

* Major number of the members not attending (or informing regd) the meetings

There was a general feeling regarding the lack of commitment in our club with respect to
attending (and/or informing about) the monthly meetings. It's well known to all the members that
the meetings are held every 2nd Wednesday of each month, unless otherwise specified. It becomes
sole responsibility of each member to inform the club well before the meeting day, by means of
email, if he will not be attending or will be late for the meeting. The communication should
also be accompanied with an explanation for the other members to see. Verbal communication to a
few members is not acceptable. This is simply because as seen practically over the past, the
information, that a particular member will not be attending, does not reach others in time. It's
rather at the time of the meeting that people get to know that someone or the other will not be
there. There exists a need to act more professionally in this matter from now on or else, the
investment club concept loses its meaning, and the effect is to lower the morale of rest of the
members to take any initiative.

The issue of members not attending the meetings overshadows the more important involvement need,
which is, to gather more market statistics and suggest speculative stocks during the monthly
meetings.

* Publish the new board members w/ responsibilities

President (Raj) : Primary contact for decision making regarding Kamadhenu activities, backup to
the treasurer in executing trades

Treasurer (Srini) : Execution of trades, generate charts etc, update members of the account
activity weekly/biweekly.

Vice President (Deepak Sharma) : Email agenda/venue notices to members, responsible for taking
minutes/emailing to the members after meeting

Deputy Treasurer (Brijinder) : Collect/Deposit funds.

* Issues regarding Dr. Modi's relocation

Dr. Modi has relocated to another city. In this situation it was discussed whether we could have
him conference during the meetings, considering he would bear the long distance charges incurred
and primarily, if he still wanted to be a part of our club. There were also issue regarding
collection of monthly installments. That would be taken care by means of direct deposit. This
month's installment from Dr. Modi should be collected by Dp Treasurer (Brijinder).

* Reminder for Schwab forms

Still some of the members have not sent their Schwab automatic deposit forms. If there are any
issues regarding the same, it should be brought to the notice of the president, otherwise the
forms should be sent at the earliest.

* Collect checks for next installment

Checks were collected by Deepak Sharma, from all members who still haven't had a chance to setup
the automatic debit option. He will be handing over the checks to Vablinder for depositing in
our account.

* Transaction details

The club bought stocks for Mind Spring (details reflect in the Kamadhenu portfolio)

The club sold stocks for Best Buy, buy means of Limit Order.

We have roughly $9,300 on hand to invest (after this month's deposit of $2800)

Srini would be adding another (dummy) symbol to the Kamadhenu portfolio to show the Cash on hand
figures.

Srini, will also change the Kamadhenu portfolio to list the speculative stocks that are selected
during the monthly meetings.

* Stocks shortlisted for monitoring over the next couple of weeks before buying

The group agreed to select a few stocks to monitor for the next couple of weeks to see a dip in
the market. At that point, there would be a vote over the phone with all the members, to buy a
particular stock, if need be.

The stocks selected for this criteria are :-

1. Oracle
2. Sun
3. Best Buy
4. Triquint Semi
5. PMC - Sierra Inc
6. Vitesse Semicon
7. AMAT
8. Amazon
9. Tyco

* Date and venue for next meeting

Date: Oct 13, 1999 (Wednesday)

Venue:

Srini's (next to Raj)

9444 Tyne Court
InverGrove Heights 55077

Ph: (651) 688-9492 (Home)

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