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WEN » Topics » Consolidation of Opportunities Fund

This excerpt taken from the WEN 10-K filed Apr 3, 2006.

Consolidation of Opportunities Fund

       We consolidate the Opportunities Fund since we currently have a majority voting interest of 76.4%. Our voting interest decreased from 95.2% at January 2, 2005 due to investments from third party investors during 2005 and we continue to market the Opportunities Fund to other investors. Further, commencing in October 2006 we have the right to withdraw our investment in the Opportunities Fund. Should either the sales of equity interests in the Opportunities Fund or a withdrawal of funds by us result in us owning less than a

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majority voting interest, we would no longer consolidate the Opportunities Fund. However, no assurance can be given that this will occur. If this does occur, we will account for our investment in the Opportunities Fund under the equity method of accounting on a prospective basis from the date of deconsolidation.

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