Mar 31st 2009, 20:20 system announcement
by Scott Nestler

SL Reports (CapEx: SLR)

Date: Tuesday, March 31, 2009

From: Scott Nestler, Chairman, SL CapEx

To: All Interested parties,

In re; Moving forward...

For quite some time the BOD of SL CapEx (Bo, Chan, Cash and I) have been contemplating the state of our Union, our community, and our collective investments across the grid. As many here recognize the combined holdings of Bogart and myself are quite substantial and it's created an unlevel playing field in the marketplace with entirely too much authority concentrated in the hands of far too few.

Concurrent with that issue we find ourselves constantly wrestling with difficult issues regarding Exchange policy and enforcement, and the ongoing challenge of growing, reshaping and maturing as a community. Today we find ourselves at an interesting crossroad; it seems most of the SL Exchanges have settled in for the long haul and have found their own place, features and philosophies for operation. On SL CapEx, the majority of companies now take themselves seriously, and our member CEO's are diligent, responsive and cognizant of their Shareholder obligations. For the most part that credit belongs to Bogart Beck and Cash Yiyuan - I think most people here recognize the incredible effort and fortitude they have demonstrated during what can only be described as a time of unprecedented challenges.

As we move forward to the next chapter of our existence, I believe it is time to make some substantial changes to our organization, our policies and some of our investment strategies. I recognize that a few of these changes may be unpopular, somewhat controversial and perhaps may even appear arbitrary, nonetheless together I believe they are the right decisions, at the right time, for the right reasons. I have discussed them with my team individually and we each agree under the unique circumstances before us that they are proper, timely and necessary. I hope the majority of you will agree.

Effective April 01, 2009, I have asked Bogart Beck to assume the role of Chairman and CEO of SL Reports (CapEx: SLR). Since SL CapEx's inception SL Reports has been the single most authoritative voice for our community. SLR is the oldest surviving entity on SL CapEx and its mission and purpose must not be compromised. During his tenure as CEO of CapEx Bogart has demonstrated unequalled knowledge of our community, a unique, articulate (and sometimes obnoxious!) ability to get to the point and very strong opinions about most everything that's transpired in the SL Finance Community over the last two years. I can think of no better person to take the helm of SLR, however, to be an effective and unbiased News Source I've asked Bo to do several things;

1 - Effective April 01, 2009, Bogart Beck will resign his position as CEO and interim CFO of SL CapEx. Bo will REMAIN as an independent Boardmember of SL CapEx.

2 - Effective April 01, 2009, Bogart Beck will resign his Board of Director positions in Hi-Five (HIFI), Milos Designs (MLS), Nestler Investment Corp (NIC) and Virtual Payment Systems, Inc. (VPAY).

3 - Concurrent with the consolidation, the SL CapEx Investment Portfolios currently managed by Beck Investment Group will be moved to the SL CapEx ALT (CapExATM Aquila) and be managed by Chan, Cash or myself.

4 - I will begin recruiting for talent to help offset the loss of Bo immediately. In the interim, Cash, Chan and I will share joint responsibility for the day-to-day operations of SL CapEx. Interested? Drop me an Email ASAP!

5 - As compensation for his services to SLR, I am granting 1M unrestricted SLR shares to Bo as an individual, and am also returning 1.5M of the SLR shares held by VPAY to SLR's Treasury to give it a firm foundation.

6 - The remaining 1.83M shares of SLR held by VPAY will be retained longterm as a strategic investment. I have asked Cash Yiyuan to join me on the BOD of SLR to help provide Bo with strategic guidance going forward.

It should be painfully obvious that the principals of SL CapEx and VPAY have not taken this decision lightly, and, I am confident we've made the right decision in this matter on behalf of the entire community. As such, please join me and supporting Bo though this transition - it's a huge step forward for all of us!

Please contact me in world or by email (nestler.investments@gmail.com) if I you have any questions regarding this announcement.

Kind regards,

Scott Nestler,
Chairman, SL CapEx