In 1996, Capital Title Group, Inc. (Capital Title) was a private company generating approximately $2.5 million in annual revenue by offering title agency services to the real estate industry. In order to increase the value and long-term viability of their company, the founders of Capital Title recognized growth and diversification into new markets and implementation of new strategies to attract and retain key employees were essential. In addition, Capital Title would require growth capital. They contacted Miller Capital Corporation (Miller) to provide strategic guidance and direction related to the growth capital required to achieve their goals.

After thorough analysis and understanding of the business, industry and personal goals of the founders, Miller formulated a long-term strategic and financial strategy for Capital Title. Capital Title's size, historical profitability and industry participation eliminated a number of capital market alternatives. However given a very strong management team and understanding that employees were key to Capital Title's growth, Miller provided strategic guidance that enabled the Company to efficiently raise growth capital and retain key employees.

Miller was a venture capital investor in Capital Title, structured a public vehicle and guided the Company through three early-stage rounds of private equity financings. In its ongoing role as an advisor to Capital Title, Miller provided assistance in the completion of a private placement and a $47.3 million secondary offering closed in 2005. Throughout Miller's engagement by Capital Title, Miller assisted in analyzing and conducting due diligence assignments for the numerous acquisitions completed by the Company. Capital Title grew to be a market leader in the title industry with $380.2 million in annual revenue for 2005. The Company was listed on NASDAQ Global Select Market under the symbol CTGI. As a result of Miller's strategic and financial guidance, Capital Title was able to significantly increase the value of the Company for its shareholders and the founders of Capital Title.

In September 2006, Capital Title was acquired by LandAmerica Financial Group, Inc. (NYSE: LFG) for a transaction value of approximately $266 million including debt. Miller affiliate Miller Capital Markets, LLC, a FINRA member firm, represented Capital Title in the transaction that was completed at an industry premium beneficial to all shareholders.

Founded in the early 1900s, Bowlin Travel Centers, Inc. (Bowlin) was a private family-owned and operated company when introduced to Miller Capital Corporation in 1996. Bowlin had two operating divisions, 18 travel centers along major interstate highways in New Mexico and Arizona and a billboard division in a multi-state area.

The owners of Bowlin had three primary goals: growth, removal of personal debt guarantees and liquidity. Bowlin engaged Miller Capital as its exclusive financial advisor to develop a comprehensive strategy that would address their goals.

Understanding the Bowlin family's desire for liquidity, but wanting to maintain control of the business, Miller Capital provided guidance for a successful IPO that accomplished Bowlin's objectives and provided growth capital. Next Miller Capital was able to direct the public entity to utilize its new equity for securing a new $30 million dollar credit facility, with no personal guarantees. With substantial growth capital in place and realizing arbitrage opportunities in the outdoor advertising market, Bowlin was able to complete 12 acquisitions, which established the company as the largest billboard owner in New Mexico.

Recognizing favorable market conditions, Miller Capital provided advisory services to Bowlin during the sale process for the outdoor advertising division, which resulted in transaction proposals from several qualified parties. After analyzing the terms of the proposals and conducting an organized process, Miller Capital guided Bowlin through the process of selling its outdoor advertising division to a major strategic acquiror for $48.8 million, a price of more than 12 times trailing EBITDA.

With the sale of the outdoor advertising division, the travel center division was spun-off into a new public company possessing $26.8 million in annual revenue. These series of transactions provided a substantial return on investment and significant shareholder liquidity.

Subsequently, Miller Capital rendered a fairness opinion to Bowlin's Board of Directors relating to an unsolicited tender offer, which was undervalued. Today Miller continues in its capacity as exclusive advisor to Bowlin.

Altogether, Miller Capital's efforts substantially decreased the Bowlin family's liabilities and significantly increased their net worth and liquidity. In addition, the Bowlin family still enjoys control of the original family business, Bowlin Travel Centers.

Sunrise Educational Services, Inc. (Sunrise) was a publicly traded operator of preschools and charter schools. Sunrise's goal was to increase its market share through both organic growth and acquisitions. Sunrise hired Miller Capital Corporation as its exclusive financial advisor and management consultant to assist in developing a strategic and financial plan to achieve their target growth objectives.

First, Miller Capital developed an investor relations strategy that increased investor awareness of Sunrise resulting in a significant increase in the company's value. Next, Miller Capital guided Sunrise through a public equity transaction that provided Sunrise with the necessary capital to reduce existing debt and provided for future expansion.

As Sunrise expanded its operations and increased market share, the company increasingly became an acquisition candidate by larger strategic acquirors. Consequently, Sunrise was approached by a larger operator seeking to acquire the company and utilized Miller Capital's advisory expertise in structuring and closing the transaction with the larger operator, utilizing a combination of stock and cash for consideration.

Miller Capital's ability to efficiently direct Sunrise in their mission for growth capital and provide valuable merger-acquisition advisory services assisted the Sunrise management team in achieving their goals and increasing shareholder value.

The founders of America West Airlines, Inc. AWA) approached Miller's principal at a time when there were twelve employees, no Federal Aviation Administration (FAA) certification to operate an airline and no airplanes... all the fledgling company had was a dream and a business plan but no cash. Miller's principal, believing in management and their business plan for a new start-up, low-cost airline, invested in the company providing the financial support necessary to implement the next step in the business plan. Miller's principal also agreed to assist the company in structuring and guiding AWA through the initial public offering (IPO) process and to serve as a member of the board of directors. A successful IPO was completed for $18.7 million dollars. Nine months later the newly formed airline completed its inaugural flight.

After serving the shareholders for four years, Miller's principal departed his position as a board member to accept an offer as Chairman of the Board of a regional public airline. AWA completed a merger with US Airways in 2005 and the combined airline is now the fifth largest domestic airline in the United States. Its stock is listed on the New York Stock Exchange.