Colliers Seeley International, Inc. has completed a valuation of the shares of its common stock.

August 2004 - Kerlin was engaged by the Board of Directors of Colliers Seeley International, Inc. to develop the fair market value per share of the outstanding common stock as of December 31, 2003. Kerlin’s valuation report was used to establish a transfer price for internal transfers of the Company’s shares in accordance with the Company’s shareholders agreement.


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