August 25, 2008

Dear Valued Client,

As you may know, Bear, Stearns & Co. Inc. and Bear, Stearns Securities Corp. were acquired by JPMorgan Chase & Co. earlier this year.  We wanted to take a moment to update you on some upcoming name changes to our clearing firm’s broker dealer entities.

Effective October 1, 2008, the name of Bear, Stearns & Co. Inc., the broker-dealer that provides access to financial products and execution services for your account(s), will be changed to J.P. Morgan Securities Inc. In addition, also effective October 1, 2008, Bear, Stearns Securities Corp., the broker-dealer that provides custody and clearing services for your account(s), will be changed to J.P. Morgan Clearing Corp.

After October 1, there will be no material change in the current operation of your account(s) as a result of this renaming.  You may notice the new names on account statements, confirmations and other correspondence related to your account(s). 

If you have any questions or require further information about this matter, please contact your Investment Professional.

As always, we are committed to providing you with an outstanding client experience. We value your business and appreciate your continued support. 

June 30, 2008 Oak Ridge Closes on oversubscribed $7.5 million Private Placement for Spineology Inc.
Oak Ridge Financial closed on a $7.5 million Private Equity Placement for Spineology Inc. The Emerging Growth Team set out to raise $5.5 million for Spineology and closed on an additional $2.0 million. Spineology is a pioneer in minimally invasive surgery in the spinal implant industry. The Company’s OptiMesh System enables spine surgery to be completed in a dramatically less invasive manner.

May 17, 2008 Oak Ridge’s Scott Rickford sets new Powerlifting Mark
Scott Rickford beat his own Minnesota State Powerlifting Record for the disabled with a Bench Press of 352 pounds in the 198 pound weight class at the WABDL Nationals held in the Wisconsin Dells. The old record of 325 pounds was set last year. Congratulations Scott!

January 25, 2008 Oak Ridge Annual Holiday Outing
Oak Ridge Financial once again let the rush beat it and held its annual holiday outing on January 25, 2008 at Tuttle’s in Hopkins. Fifty-five employees and their significant others turned out for a fun night of good food, libation and bowling…….yes bowling. Appropriately, Marc Kozberg, our CEO led the way on the lanes by bowling a 192 (Marc says he will give lessons for $50/hour). While we obviously won’t have anyone joining the pro tour anytime soon, we sure had fun. Special thanks to John Clifford, Mike Leonard and Terri Keohokalole for arranging such a fine outing!

November 1, 2007 Tom Herstad joins Emerging Growth Group

Oak Ridge is pleased to announce that Tom Herstad has joined the Emerging Growth Investment Banking Team as an Associate. Tom will be working with Tom Niemiec and Randy Hines on both financings and merger and acquisition opportunities but will also assist the Financial Institutions Group and lend a hand to Mike Leonard in expanding the Private Client Services Group. Tom previously worked in San Francisco with Merrill Lynch, Olde Financial and his own small merchant bank Marquette Ventures LLC. Tom also has experience in executive recruiting in the financial services industry. He has a BA from the Carlson School of Management at the University of Minnesota and an MBA in Finance from Pepperdine University.

September 23, 2007 Oak Ridge’s Scott Rickford and Teammates Defend National Title
Scott Rickford and his teammates from the Courage Rolling Twins defended their National Title at the Seventh Annual Wheelchair World Series of Softball held at Shea Stadium in New York. About a month prior, the Courage Rolling Twins were third in the 31^st National Wheelchair Softball Tournament held at Midway Stadium in St. Paul, MN.

August 30, 2007 Oak Ridge Derby At Canterbury Park
Oak Ridge Financial held its Annual Summer Outing on August 30, 2007 at Canterbury Park Race Track. Approximately sixty employees and significant other’s enjoyed an entertaining evening of dining and horse racing. The racing schedule included the Oak Ridge Derby where we all gathered to be seen with the winning horse.



July 7, 2007 Oak Ridge Investment Banking Group adds Financial Institutions Team
Oak Ridge Financial announced that Greg Larson, Craig Mueller and Mike Wier joined the firm to form the Financial Institutions Investment Banking Group. The team will specialize in providing Investment Banking services for financial companies such as banks and bank holding companies. The trio brings an average of 20 years of relevant industry experience to Oak Ridge including securities trading, sales, financial advisory services, commercial lending, loan syndication, deal structuring, and capital formation from major broker-dealers. This new, but experienced Team will provide a nice complement to the firm’s existing Emerging Growth Investment Banking practice.

May 26, 2007 Oak Ridge’s Scott Rickford sets Powerlifting Mark
Scott Rickford set a Minnesota State Powerlifting Record for the disabled with a Bench Press of 325 pounds, which is more than 1.6 times his own weight. He set the record over the Memorial Day weekend at a Midwest Regional Competition in Minneapolis.

May 25, 2007 Oak Ridge is Patron Sponsor of PACER
Oak Ridge Financial was a Patron Sponsor of the 25^th Annual PACER Benefit. The mission of PACER Center is to expand opportunities and enhance the quality of life of children and young adults with disabilities and their families, based on the concept of parents helping parents. Founded in 1977, PACER Center was created by parents of children and youth with disabilities to help other parents and families facing similar challenges.

May 23, 2007 Oak Ridge Closes on oversubscribed $8.7 million Private Placement for Cool Clean Technologies, Inc.
Oak Ridge Financial closed on an $8.7 million Private Equity Placement for Cool Clean Technologies, Inc. The Emerging Growth Team set out to raise $6 million for Cool Clean, found strong interest in the offering and closed on an additional $2.7 million. Cool Clean is a leader in advanced cleaning and cooling technologies utilizing CO₂. This was the first financing completed by the new Emerging Growth Team and was completed in approximately 60 days.

February 28, 2007 Oak Ridge Adds Key Professionals to Investment Banking Group
Oak Ridge Financial announced that Randy L. Hines, CFA joined Thomas P. Niemiec, CFA to form the Emerging Growth Investment Banking Group at Oak Ridge Financial. The Team will focus primarily on raising capital and providing financial advisory services to emerging growth companies in the Upper Midwest. Combined, Tom and Randy have over 50 years of experience in working with emerging technology and manufacturing companies in the region. With numerous consolidations in the Investment Banking business, Oak Ridge believes it can capitalize on an underserved segment of the market and focus by sponsoring quality emerging companies.