Relationship with Coastal Carolina University

Chanticleer Holdings has worked in partnership with Dr. Gerald Boyles at Coastal Carolina University to help launch a new class, Security Analysis, in the Spring of 2006. The CEO/President of Chanticleer Holdings, Mike Pruitt, and the two analysts at the company are all graduates of CCU. The investment company is also named after the university mascot, the Chanticleer.

The goal of the class is to teach students the process of analyzing businesses the way legendary value investors, such as Warren Buffett, and Chanticleer Holdings analyze them. The class will be assigned readings to become familiar with the philosophies used by such investors and will also be visited by analysts at Chanticleer Holdings to explain the Chanticleer approach first-hand. The students will spend the semester analyzing businesses in order to find companies that they believe to be undervalued companies and good, long-term investments. The students will then prepare research reports to present to Chanticleer Holdings in an effort to show why they believe the chosen company would make a good investment for Chanticleer. Chanticleer Holdings may then invest in the recommendations if they believe the research to be well founded. There will also be internship and post-graduation opportunities available to class participants.

The majority of students taking the Security Analysis class will be CCU Finance majors. Since the Fall of 2001, Finance majors at Coastal Carolina have ranked in the 95th or 99th percentile every time the ETS exit exam was taken in the Spring and Fall semesters.

About Coastal Carolina University

Coastal Carolina University is located in Conway, South Carolina and offers baccalaureate degrees in 40 major fields of study and 37 undergraduate minors. The University also offers master’s degree programs in business administration, education, and coastal marine and wetland studies.

The E. Craig Wall Sr. College of Business Administration offers six individual major areas of study - Accounting, Finance, Economics, Management, Marketing, and Resort Tourism Management. It also offers a unique and interesting specialization - Professional Golf Management. It is accredited by AACSB International, the premier accrediting body for business colleges.

About Dr. Gerald Boyles

Gerald Boyles is a Professor of Finance at Coastal Carolina University. Dr. Boyles is also a Chartered Financial Analyst and regularly provides investment and financial advice. He provides expert testimony in business valuation, personal injury and wrongful death litigation. He is a charter member and past president of the American Academy of Economic and Financial Experts, one of two national associations in the area of forensic economics. He is currently serving as secretary/treasurer of the association. He is also on the Board of Directors of the Academy of Economics and Finance. Dr. Boyles was the advisor to the College’s investment team which won the 1991 AT&T National Collegiate Investment Challenge, and finished second in 1992. Dr. Boyles’ research interests are primarily in the investment area. He has done extensive research assessing and evaluating mutual fund performance. Recently he completed a paper in which he developed a model useful to investors in assessing proper valuations levels for individual stocks and the overall stock market. Dr.Boyles is currently working on a paper in which he is assessing the cost of the S. C. Teacher and Employee Retirement Incentive program. Dr. Boyles received his Ph. D and M.B.A degrees from the University of South Carolina and his B.B.A from Wake Forest.