ValueNomics^® Engaged for 12th SFAS 141 & 142 Engagement: includes Multiple SAS 73 Reviews by National Accounting Firm Auditors for Attestation

The Sarbanes-Oxley Act (the "Act") requires independent valuations for financial statement reporting; few valuation firms in the San Francisco Bay Area have been awarded these engagements.

Cupertino, CA — February 29, 2004 — ValueNomics announced the commitment for its 12th engagement to value intangible assets and/or goodwill for impairment analysis under Statement of Financial Accounting Standards (SFAS) 141 & 142.

"This is a milestone for us in the area of valuation for financial reporting," said Gary Jones, CPA and CEO of the 10-year old firm. "When the national accounting firms conflicted out of doing valuations on their own clients (where they were also the auditors), they realized there were few alternatives to refer their clients for this work. We were one of the first valuation firms to be consideration and engaged," claims Jones.

Dirk Van Dyke (ASA and Director of Valuation Services) has been advising clients and their referral sources that good record keeping and projections with assumptions save on time and fees.  "As a Silicon Valley firm, we have seen a number of software companies, generally holding intangible assets such as copyrights, patents, technology and goodwill," said Mr. Van Dyke.

According to experts in the field, there are three basic valuations approaches used in valuing intangible property: the cost, market, and income. While all three methods should be considered by valuation firms that undertake 141 and 142 work, experts say that evidence and analysis will determine which is most relevant for each individual case. "That's why it's important to have a valuation firm with experience," said Mr. Van Dyke.  "We've gone out of our way to get these jobs," he added, "and we're comfortable completing the engagement timely and cost effectively."  "They are becoming some of our practice's bread and butter," chimed Mr. Jones.

ValueNomics is located in Cupertino, California and also performs valuations for other reasons than financial reporting, including estate, gift, succession planning, donations, employee stock options, employee stock ownership plans, merger and acquisition, other transactions and fairness opinions.