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Ascend Acquisition Corp., a specified purpose acquisition company traded on the OTC Bulletin Board, planned to acquire ePAK Resources (S) Pte Ltd., a privately held company. In connection with ePAK’s preparation of its financial statements for the purpose of this transaction, a retrospective assessment of the estimated fair value of ePAK’s various equity securities was required. These valuations needed to be performed in light of the American Institute of Certified Public Accountants (AICPA) Practice Aid Valuation of Privately-Held-Company Equity Securities Issued as Compensation.

NERA was approached in late 2007 to perform the valuation. The valuation consisted of value estimates for 11 securities, including common stock, convertible participating preferred securities, and various put and call options and warrants, on valuation dates over a period of nine years from 1999 to 2007. NERA Senior Consultant Raymund Wong, a Certified Public Accountant accredited in business valuation by the AICPA and a holder of the Chartered Financial Analyst designation, led the NERA team, which included two PhD economists and research staff members.

ePAK’s auditors accepted NERA’s valuations, and the Amendment No. 1 to the Registration Statement on Form S-4 was filed on 1 February 2008 with the Securities and Exchange Commission with respect to the proposed acquisition, citing NERA as the valuation expert for this assignment.