Milestones of Fiberstar

1998

• Obtained an exclusive worldwide license for technology developed at the University of Minnesota which forms the basis for the Company’s product development

2001

• Raised $13.2 million of equity plus $6.2 million of debt funding (This funding was raised a little bit each year, with the largest amount raised when the FL plant was built in 2003-04)

• Established a 5M sq. ft. R&D facility in Ellsworth, WI in 2001

• Developed a line of eight unique all-natural food products made from citrus pulp, currently being produced and sold under the Citri-Fi brand and manufactured using the Company’s patented technology

2002

• Developed and filed for patent protection on the drying technology used in the production of expanded fiber and highly absorbent products

2003

• Entered into a long-term supply agreement with Southern Gardens Citrus Processing

2004

• Built a Citri-Fi production facility with a 3.5 million lb. capacity

• Filed a GRAS notification with FDA for using Citri-Fi products in food products, which included receipt of a no-objection letter from FDA and permission from FSIS (a division of USDA) to use Citri-Fi products in meat applications

• Initiated first commercial sales of Citri-Fi in the United States

2005

• Established global distribution and customer acceptance and use of Citri-Fi products in large and widely diverse markets and products

• Attended first international trade show, Food Ingredients Europe, to learn about foreign markets and find international distributors

• Initiated first export sales of Citri-Fi products with improving results over the past four years

• Awarded Frost & Sullivan’s 2005 U.S. Food Fiber Markets Entrepreneurial Company of the Year Award

2006

• Hired a Director of International Marketing and worked to aggressively expand its sales and marketing efforts by developing a global network of distributors

2007

• Awarded the 2007 Silver Award for Most Innovative Food Ingredient introduced in Europe in the past two years by Food Ingredients Europe

• Developed a strong board of directors

• Developed a strong management, technology innovation, and sales and marketing team

• Expanded its global network of international distributors to 17, six of which were newly appointed near the end of the year, and its direct foreign customer to seven

2008

• Opened a 50M sq. ft. Technology Innovation and Business Development Center in River Falls, WI in June 2008

• Received affirmation from USDA that Citri-Fi meets USDA’s difficult-to-meet “all-natural” definition

2009

• Hired the third technical sales staff members, a controller and a technical writer

• Launched second product line, Imulsi-Fi, to the global cosmetic industry

• Developed one additional follow-on product, Imulsi-Fi

• Received approval from United States Food Safety Inspection Service (“FSIS”) to use Citri-Fi in non-standardized whole muscle meat and poultry products where binders are permitted and standardized whole muscle meat and poultry products where the standard of identity allows the use of binders

• Formed Fiberstar Ingredientes do Brasil Ltda, a Brazilian subsidiary, to operate the proposed Brazilian production

2010

• Signed option on 13,000 square meter site in Matao, Sao Paulo state, Brazil

• Named as a Wisconsin Company to Watch by the Wisconsin Entrepreneurs’ Network (“WEN”) in conjunction with the Wisconsin Department of Commerce and the Division of Entrepreneurship and Economic Development (DEED) at the University of Wisconsin-Extension in association with the Edward lowe Foundation

• Spun-off research and development business group into Fiberstar Bio-Ingredient Technologies, Inc.

• Achieved first $1 million of sales to single customer within a 6 month period

• Signed long term raw material supply contract with Dreyfus for the Matao plant

• Fiberstar shareholders receive a distribution of 100% of Fiberstar Bio stock