June 17, 2005

The North Iowa Venture Capital Fund (NIVCF) announced today a major investment in Creative Solutions Unlimited, Inc. (CSU) of Sheffield, Iowa located in Franklin County. The investment will allow continued and accelerated growth by CSU and represents the single largest investment by the NIVCF to date.

Robert Lembke, of Community National Bank and NIVCF President, said, "This investment is an example of the possibilities only dreamt about when the fund was created. We hoped to find an opportunity to invest in a local company and to assist it in its quest to grow and prosper, return profits to the investors, and enhance the job market and economic development as a result of those profits."

CSU was founded in 1988 by President and CEO Kathryn Alden as a software development firm specializing in long-term healthcare. The company has installed its healthcare software at approximately 300 sites across 14 states and maintains a market share of over 50% of the long-term care facilities in its home state of Iowa. CSU is deploying its new generation of integrated clinical and financial healthcare software in 2005, and anticipates doubling its national client base. Complementary products and services including continuing education and web application development also contribute to revenue growth.

Alden states, "We have survived in a highly competitive environment in which over 80% of our national competition is no longer in business. The NIVCF investment in CSU allows us to create the positions we need to execute the five-year strategic plan we designed to take the company to the next level." CSU will expand from 19 full-time employees in 2004 to 40 by the end of 2006. "We are fortunate to be in North Iowa where we have found talented and dedicated people who contribute to our success," she adds. "CSU is unique in the healthcare software business for many reasons, and we take great pride in the positive impact we have on the nursing home industry, especially here in Iowa."

The NIVCF has received over 80 opportunities to invest in companies in Iowa and elsewhere. Another technology company, Intradyn, recently announced an expansion in North Iowa and the NIVCF also invested in that company. To date over $800,000 has been invested in five Iowa companies with over half of that in companies in North Iowa. The NIVCF is comprised of 61 investors from 15 different communities throughout North Iowa. It is a for profit fund looking to invest in North Iowa and provide both financial and business support to assist in the growth of those companies with the goal of returning a profit to the investors and economic development as a by product.

The NIVCF is administered by the North Iowa Area Community College John Pappajohn Entrepreneurial Center. Applications for funding can be found at www.niacc.edu/pappajohn or by calling the JPEC office at 641-422-4111.

The John Pappajohn Entrepreneurial Center is located on the North Iowa Area Community College campus in Mason City, Iowa and provides college level courses and degree programs in entrepreneurship, as well as consulting services for business start-ups and existing industries in the North Iowa region. The Center also provides FastTrac training programs both for beginning companies and existing companies. For more information, please contact Jamie T. Zanios at 641-422-4162.

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For more information, contact the Marketing and Community Relations Department
North Iowa Area Community College, 500 College Drive, Mason City, Iowa  50401
422-4295 or 1-888-GO NIACC, ext. 4295
www.niacc.edu