Equity

Our primary investment approach is to invest in high quality, consistent growth companies and we strive to achieve long-term growth of capital and income. We dedicate a significant amount of time and effort toward internal fundamental research and analysis to help us in our stock selection. This includes direct contact with company management both in person and over the telephone. Brokerage research reports and other outside research providers are used to supplement our internal efforts.

We emphasize companies with above average long-term growth prospects, strong financial characteristics (strong balance sheet,

positive cash flow, stable or improving profitability) and proven and stable management at reasonable levels
of valuation.

We do not employ active trading or market-timing strategies. Our equity portfolios are generally fully or close to fully invested at all times. A typical equity portfolio is diversified among 30 to 40 companies, of which at least 60% are core holdings with the remainder in emerging growth or special situation holdings.

© 2007 Schaper, Benz & Wise • 18 Jewelers Park Dr. • Suite 200 • PO Box 628 • Neenah, WI • 54957-0628 • (920) 727-1137

This website and the services contained herein are intended for U.S. citizens. Schaper, Benz & Wise Investment Counsel, Inc. is an SEC registered investment adviser located in Neenah, Wisconsin. Our Form ADV and other information can be viewed at www.adviserinfo.sec.gov. All information contained herein is for informational purposes only and does not constitute a solicitation or an offer to sell investment advisory services in any jurisdiction. Schaper, Benz & Wise does not make any representations or warranties as to the accuracy or timeliness of any information prepared by any unaffiliated third party provider, whether linked to this web site or incorporated herein.

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