DCC Growth Fund, LP (the Fund) is a venture capital fund formed to provide both sub-debt and equity capital primarily to growth-stage small companies. Each financing will yield upside potential for the Fund and add value to the company.

CAPITAL

The fund has invested and available capital aggregating $60 million. Private capital was raised on a regional basis essentially through the Certified Development Company (CDC) Network. Additional capital is obtained by selling Small Business Administration (SBA) guaranteed securities in the public market (SBA Leverage).

SBIC

The capital is dropped down into Development Capital Ventures, LP, a Small Business Investment Company (SBIC) licensed by the Small Business Administration.

13 strategically located SBA Certified Development Companies (CDCs) constitute the group, along with a private Industrial Development Authority. They helped raise capital and originate deal flow. Six are Co-Founders, each having invested $50,000 or more of seed capital

MANAGEMENT

The Fund is managed by the two General Partners (Wayne Foren and Don Murfin), an Administrative Partner and one or more Investing Partners. Development Capital Management Company (DCMC) is the Management Company. DCMC receives an annual management fee and pays the normal day-to-day operating expenses of the Fund. The Principals and staff are employed by DCMC.

OPERATIONS

The Investment Committee is composed of the General Partners, Wayne Foren and Don Murfin. All Partners participate in the periodic meetings and minutes are circulated to the Investment Advisory Committee. All investment and disbursement decisions are made by the two General Partners and will be unanimous.

Advisory Committees

The Investment Advisory Committee, composed of selected Limited Partners, provides
advice, reviews valuations and makes recommendations on sensitive matters.

The Core Group Advisory Committee, composed of selected Core Group Members, advises the Fund on matters relating to deal flow and the CDC Network.

Focus is on growth- and later-stage companies with proven performance,
stable & growing cash flows, and realistic prospects for growth. These companies usually need capital for expansion, product development and strategic acquisitions.

Investees should be existing businesses with proven management teams that have a meaningful personal investment in their companies. They must also have well-developed business plans that include measurable milestones.

Any industry concentration will be a result of deal flow. The fund prefers manufacturing, distribution and B2B service. Some industries may not be eligible for the Fund. Generally, the deals will be in the eastern United States and Puerto Rico.

Deal size ranges from $1 to $3 million. Equity investments are generally larger than sub-debt financing and the average deal size is about $1.5 million.

The Fund was established to serve the CDC Network. National deal flow is potentially very large. The CDC Network, Strategic Limited Partners and the venture capital network will be the primary sources.

The Fund will invest alone or participate with other like-minded SBICs and private venture funds.

Development Capital Ventures, LP, a licensed SBIC, makes equity or sub-debt
investments in companies needing patient capital, exhibiting high growth potential and providing a realistic exit strategy. The business may be entering or in the growth stage.

Effective July 1, 1997, banks receive Community Reinvestment Act (CRA) credits for investing in an SBIC that serves their market area. Bank examiners have been directed to "presume" that an investment in an SBIC promotes economic development and meets the standard for a "qualified investment." There is no "look through" requirement.

On June 24, 1998, the Office of the Comptroller overturned letter 617 on two
narrow points that relate to the Fund as follows:

• Banks can make their investment at any time in the process of organizing an SBIC as well as after the SBIC license is issued.

• Banks are now permitted to invest in an entity that will in turn invest in SBICs. This means banks can invest in DCC Growth Fund rather than being required to invest in the drop-down SBICs
  

This Summary is not an offer of an interest in the Fund or a solicitation. Solicitations will only be made to Accredited Investors as defined in Regulation D under the Securities Act of 1933, as amended.

Wayne Foren, General Partner
DCC Growth Fund, LP
P.O. Box 399, Catharpin, VA 20143-0399
Voice: 571.261.9620 ext 309, Fax: 571.261.9622 or email: info@dccgrowth.com
-- OR --
Don Murfin, General Partner
DCC Growth Fund, LP
3540 Lido Court, Akron, OH 44319
Voice: 330.645.9050, Fax: 330.645.9056 or email: dmurfin@sbcglobal.net