We are happy to report on the Pitango Venture Capital CEO and Entrepreneur's Event that was held over two days- June 11-12, 2006 in Eilat at the Herod's Forum.

This event brought together over 70 of the CEO's and entrepreneurs of the Pitango portfolio family for two days of discussions, panels, interaction and networking.

During the event, Pitango presented several talks and panels. The forum began with a speech by Eitan Wertheimer, Chairman of ISCAR who spoke of the recent transaction with Warren Buffet as well as on his philosophies of doing business.

Margo Paz, an expert in cross-cultural communication presented her views to the group in an address entitled "Business Beyond Borders - Improving Cross Cultural Communication and Collaboration”". Through examples, Margo helped the group to see how many of us view things with a different eye and handle things with a different twist and how this can help or hurt our business dealings.

"The Four Disciplines of Execution" presented by Aviad Goz concluded the days' presentations. Aviad, who is the CEO of Momentum Training Israel, gave the participants a view of what should be important in executing their business goals.

The first day concluded with a dinner where participants had the opportunity to meet and mingle in a relaxed atmosphere with their colleagues over dinner and a private concert by one of Israel’s premier entertainers- Rami Kleinstein.

Monday morning began with a panel discussion entitled "How to Effectively Manage Board of Directors Work". The panel included both CEO's and members of the Pitango team who sit on boards of the various portfolio companies. A lively debate ensued and comments heard later, indicated that this was a particularly insightful part of the program.

Next, Barry Shaked, CEO of Retalix gave the forum his perspective of starting a small company and growing it to a global one. Retalix, successfully trading today both on the Tel Aviv Stock Exchange and NASDAQ, began as a small Israeli start-up. Barry's tips and comments were most appreciated by the group, many of whom are themselves CEO's of start-up companies looking towards a future that Barry has been successful in achieving for his company.

To conclude the educational part of the meeting, our CEO's were treated to a lecture and presentation by Doron Harel entitled "An Hour on Top of the World”. Doron, as the only Israeli to have successfully scaled the highest peak of Mount Everest, enlightened us all to the importance of one's goals and focusing on them, whether it be in business or otherwise.

We concluded the gathering with another opportunity for mingling and working together as teams on the beach in Eilat as we conducted friendly competitions and learned to put into play some of the lessons we had learned over the previous day and a half.

We believe that everyone enjoyed the event as well as took home some important tools and lessons. Pitango plans to conduct this event on a regular basis.