... of riskier projects promising potentially higher growth. In addition, a reduced equity stake may result in the acceptance of projects promising greater personal gain. BUYER AND SELLER RISKS Relinquishing partial ownership, seller risks potential control loss irregardless of the refusal for outside board representation. The seller also risks possibility that a capital investment project will fall short of growth expectations. As a buyer Thyestean Ventures face the risk of capital loss due to asymmetric information, lack of specific knowledge and minimal control. EXPLANATION OF VALUATION DIFFERENCE Calculation of value is a personal judgment tied closely to an individual's perception of risk. Current ownership may overstate the actual market value of Sky Air because of intrinsic value and specific knowledge of the company's operations. As potential buyers, Thyestean Ventures will likely understate the value of Sky Air because of limited knowledge and an inability to appreciate true company potential. OPPORTUNITIES TO REDUCE THE VALUATION DIFFERENCES To ...

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