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20 York Mills Road, Suite 201 Toronto, ON Canada M2P 2C2 Gentlemen: We are pleased to submit this revised letter summarizing the principal terms upon which investment funds affiliated with Austin Ventures ("Austin Ventures") would potentially acquire (the "Acquisition") the entire outstanding equity interests in 724 Solutions, Inc. After purchasing Deep Rock in September 2004, owners M2P Capital, LLC and Norwest Equity Partners set in motion a plan to build on the equity in this historic, independent Denver brand in a marketplace literally spilling over with hundreds of competitors. MINNEAPOLIS -- Norwest Equity Partners ("NEP") and M2P Capital ("M2P") announced today the acquisition of Deep Rock Water Company ("Deep Rock"), a leading provider of bottled water for the home and office delivery and retail markets. |
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