Peter Daley
1890 Tahiti Drive
Costa Mesa, CA 92626

EDUCATION:

Bachelor of Science, Business Administration
     Cal State Northridge - 1965

Masters of Business Administration
     Pepperdine University -1991

Accredited Senior Appraiser
     American Society of Appraisers -1999

BUSINESS:

IBM Corporation, Marketing Representative.
Marketed mid-range computer systems and peripherals in the Southern California area. 
Received Regional Managers Award and two District Managers Awards for competitive
wins. Qualified for three hundred percent clubs.

Itel Corporation, Marketing Representative.  Re-marketed the IBM System/360
portfolio to customers in Southern California, Hawaii, Colorado and Arizona. 
Qualified for three hundred percent clubs.

Saddleback Marketing Corporation, President.  Brokered and leased used IBM
equipment to customers in the western United States.  Sales volume varied between
$3 and $5 million per year.

1980-2001 - Daley Marketing Corporation.  President.  From 1980 to summer
of 1985, brokered and leased IBM equipment in the Western United States.  In 1981
began to market an IBM Computer Price List and in June of 1985 sold existing leasing
business and created the market value and residual value publications that are
sold worldwide today.

2001-2005 – Computer Economics.  President.   Mr. Daley acquired CEI on
January 1, 2001.  CEI is an IT Consulting company that deals with economics
of running and managing an Information Technology department.  It publishes FMV
and Residual Values for the computer equipment as well as salary and demographic information.

1994-Present - DMC Consulting Group.  President.   From 1994 to present
Mr. Daley has been writing computer appraisals and reports for Fortune 500
customers.  He received his Accredited Senior Appraisal certificate in April 1999
from the American Society of Appraisers.

2005-Present– DMC Valuations.  President.   April 1, 2005 the IT Consulting side
of CEI that deals with economics of running and managing an Information Technology
department was sold, and DMC Valuations which publishes FMV, Vendor Pricing,
Residual Values and Appraisals for the computer equipment was established.

2006-Present – Commonwealth Capital Corporation. Director.   Advise Commonwealth Capital
Corporation (CCC) with direction and residual value assumptions with the purchases of leases of IT
equipment. CCC then seeks leasing arrangements from investment growth companies
(creditworthy firms typically rated Baa by Standard & Poor’s). CCC buys Fair Market Value
operating leases with transaction sizes generally between $50,000 and $750,000
and lease terms from 12 to 36 months.

Appraiser Qualifications

PETER DALEY, Accredited Senior Appraiser

Professional Overview

Mr. Daley is an ASA (Accredited Senior Appraiser) for the discipline of Machinery and
Equipment with a specialty in High-Tech for the valuation of computer equipment
and has successfully participated in the Society’s mandatory re-accreditation Program
and formal re-accreditation is granted until April 16, 2014.

Mr. Daley has been in the computer business since 1965, first with IBM as a computer broker/lessor
and then with Daley Marketing Corporation (DMC), a firm he founded in July 1980 to publish reports about computer
equipment, including "Market Value Reports" and "Residual Value Reports." In January 2001 Mr. Daley acquired Computer Economics, merged DMC into CEI and in April 2005 sold the IT Management Company and created a new company focus on the fair market value business. Additionally, Mr. Daley remains president of
DMC Consulting Group, a separate company that specializes in writing Appraisals,
Portfolio Analysis and Property Tax Valuation from Fair Market Value (FMV) to Residual Value (RV) valuations.

Mr. Daley has developed a database of “Fair Market Value” equipment values from 1980 to the
present, utilizing a variety of reports and publications along with the DMC and CEI Market Value Reports. This database has been successfully used in the valuation of computer equipment in the
settlement of a number of Virginia tax cases. He has also previously testified in California, Minnesota,
Michigan, New York and the Virginia Courts as an expert in the field of
valuation of computer equipment.

Lectures/Seminars/Presentations

Equipment Leasing Associations Management Conference - Residual Value Forecasting,
Tuscon, AZ, February 1997.

American Society of Appraisers Machinery Conference - Determining Fair Market Values and
Residual Value Forecasting, Chicago, IL, October 2001.

Panelist at the fall Comdex  - Orderly Disposition of Computer Assets. Las Vegas, November 2001.

American Society of Appraiser’s International Conference – Residual Value
Forecasting for the Computer Industry, San Diego, CA, August 2002.

Equipment Leasing Associations Management Conference – Fair Market Value’s
Scottsdale, AZ, March 2004.

AFCOM Spring Conference – Lease Negotiations April 2004

Published Articles

Computer Economics IT Advisory Web Site - Planning IT Equipment Acquisitions
– Overview – October 2003

Computer Economics IT Advisory Web Site – Lease Negotiations – March 2004 

Five Year PC Desktop Study 2001 to 2005 – Depreciation schedule and fair market value - September 2005

PC Notebook Study 2001 to 2005 – Depreciation schedule and fair market value - January 2006

IT Vendor Discounts – Computer Discounts for Desktops to Servers – January 2006

Mr. Daley has testified in Federal and Tax Courts in the following cases:

Andantech, LLC v. Commissioner of IRS
No. 15532-98, 4277-00, 6348-00
U.S. Tax Court
October 2000
St. Paul, MN

Nicole Rose v. Commissioner of IRS
No. 1967-00
U.S. Tax Court
December 2000
New York, NY

Central Funding Inc v. CompuServe Interactive Services, Inc.
Case No. 01CVH05-4019
U.S. District Court
May 10, 2002
Columbus, Ohio

CMA Consolidated, Inc and Subsidiaries, Inc. v. Commissioner of IRS
No. 12746-01
U.S. Tax Court
October 2002
San Francisco, CA 

CTC Communications, v CCA Financial LLC.
Case No. 02-12873
U. S. Bankruptcy Court
January 2003, March 2003
Wilmington. DL

Long Term Capital Holding v United States
Case No. 3:01CV1290
U.S. District Court
June 2003
New Haven, CT

Cable & Wireless USA of Virginia v Commonwealth of Virginia State Corporation Commission
Case No PST-2002-00045
Virginia State Tax Court
October 2003
Richmond, VA

Mr. Daley has been deposed in the following cases:

Central Funding Inc v. CompuServe Interactive Services, Inc.
Case No. 01VH05-4019
Santa Ana, CA
April 23, 2002

Magnetek v. United States
Case No. 3-00-0925
Los Angeles, CA
July 16, 2002

Long Term Capital Holdings v United States
Case No. 3:01CV1290
Santa Ana, CA 
February 19, 2003

WorldCom, Inc and MCI WorldCom Network Services v. General Electric Global Asset Management Services
Case No. : 02-13533 (AJG)
Los Angeles, CA
April 25, 2005

Globe Investment, LLC v. Tax Express-Gratiot, LLC
36th District Court No.: 06-313221-LT/Judge Cylenthia L. Miller
Irvine, CA  92612
July 13, 2007

Computer Sales International, Inc v Lycos, Inc.
United States District Court of Massachusetts No 05-10017-RWZ
Boston, MA
December 7, 2007 

Partial Client List

BankAmerica Leasing & Capital
Chase Equipment Leasing         
Commonwealth Capital Corp
Compuserve
Dreamworks Interactive
EMC Corporation
First Financial Leasing
FLC Partnership
Gartner Group
G.E. Capital Solutions   
GTE Service Corporation
Hewlett Packard Financial Services
Home Depot
IBM Corporation
Internal Revenue Service
Leasing Technologies Int’l
Meridian Leasing Corporation
National City Leasing
Price Waterhouse Coopers
Ratheon E-Systems
United Computer Capital
United States Department of Justice
Worldspan

DMC Publications History

The following is a breakdown of reports conceived and marketed by
Daley Marketing Corporation and now part of Computer Economics:

The above subscriber products are available either hard copy, on-line or email.