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SSI Update

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Happy New Year!

Update #070  December 29, 2006

Hello, and Happy Holidays!

Here's a quick update on Integrated Alarm (IASG): As you've probably heard, Integrated Alarm is being acquired, just as we predicted. Unfortunately, the deal includes very little premium, which was not predicted. We re-entered this position at $3.27 in November and the buyout values the company at $84.4 million, or about $3.50 per share — not the type of buy-out premium I was hoping for.

Sit tight for now and wait for the full value of $3.50 per share to play out. There's always a small chance we'll see a sweetened bid from another suitor, but it doesn't look promising. I'll keep you updated.

More on IASG and all your other holdings in the upcoming January Superstock Investor issue, expected to be posted Friday, January 5th, as well as the big picture and what to expect in 2007.

Wishing you and yours a happy and healthy New Year's,

Jeff Manera

Superstock Investor