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ValleyCrest Holding Co. and Subsidiaries <br />Notes to Consolidated Financial Statements (continued) <br />4. Investments and Escrowed Retention <br />Investments <br />At April 30, 2008, the Company had investments in U.S. Treasury securities with a fair value of <br />$756,000 and a cost basis of $737,000 that resulted in a gross unrealized gain of $19,000 (net of <br />a deferred tax liability of $8,000). These investment securities mature beginning August 7, 2008 <br />through October 18, 2010. <br />Escrowed Retention <br />Short-term investments of retention funds held in escrow by contracting parties had a cost, which <br />approximates fair value of $2,533,000 at April 30, 2008. <br />5. Inventories <br />Inventories at April 30, 2008 were comprised of the following: <br />Trees <br />Irrigation and other landscape materials <br />$ 22,507,000 <br />7,607,000 <br />$ 30,114,000 <br />to -ti -v i <br />Taco <br />Va9ieyCrest Landscape Mair t. 14 <br />16400 NW 127th Are. <br />Miami, FL 33018 -1051 <br />