Springfield Investment Regulations

PERAC Approval Date

Regulation Number

Supplemental Investment Regulation

March 20, 2001

16.08

In accordance with PERAC Investment Guideline 99-3, the Springfield Retirement System may invest in Crescendo Ventures Management – Crescendo V, L.P.  The System has been an investor in Crescendo’s previous limited partnerships and has achieved very favorable investment results.

March 20, 2001

19.01(7)(a)(6)

The Springfield Retirement System may invest in the Crescendo V, L.P. whose fee structure differs from that noted in the above-noted regulation but which is compatible with standard industry practice.

January 4, 2000

16.08

In accordance with PERAC Investment Guideline 99-3, the Springfield Retirement Board may invest in Boston Millennia Partners II, L.P.  The System has submitted the required documents, including an analysis of its investment in Boston Millennia Partners’ previous partnership.