Ron Conway

Sells Angel funds

3 May, 2005

Conway is reported to sell the Angel funds to Credit Suisse First Boston. Letter to investors:

Dear Limited Partners of Angel Investors II, L.P. and Angel (Q) Investors II, L.P.:

We are following up the email we sent to you last week regarding the winding up of the fund this year.

We have successfully negotiated and signed a merger agreement with CSFB Strategic Partners II L.P. to sell Angel Investors II, L.P. and Angel (Q) Investors II, L.P. for $900,366.37 and $6,886,231.13, respectively.

The funds have more money that will be distributed to investors from reserves and the sale of securities, as well as $1.4 million of public securities that it will liquidate.

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