Sold MCG Capital Rights (MCGCR), and Added Cypress Semiconductor Corporation (CY)

The MCG Capital Rights (MCGCR), which was available to trade in our brokerage account (TD Waterhouse) as of yesterday, was sold immediately as we do not expect to exercise the option to buy the shares. These rights were expected to be available for trading on March 26, 2008 but it did not get transferred to our account until yesterday. We also initiated a position in Cypress Semiconductor Corporation (CY). As mentioned in our analysis, these shares are trading at a discount when considering its ownership of SunPower (SPWR).

Below is our updated portfolio:

Stock	Buy Date	Buy Price	Current Price	Current % Of Portfolio	Unrealized % Return	Current Yield
Altria (MO)	Various	16.69	22.08	4.38	32.33	5.1
Philip Morris International (MO)	1/4/2005	32.19	51.21	5.61	59.07	3.90
Kraft Foods (KFT)	Various	24.03	31.58	4.18	31.40	3.30
Plum Creek Timber (PCL)	5/12/2005	35.5	40.84	8.11	15.03	3.60
Pfizer (PFE)	Various	24.37	21.51	7.12	(11.73)	6.2
ICICI Bank (IBN)	5/18/2006	27.57	39.45	7.83	43.07	0.80
Taiwan Semi (TSM)	7/27/2006	8.71	10.51	6.96	20.85	3.60
Advantage Energy Fund (AAV)	11/2/2006	11.22	11.35	4.88	1.12	16.80
SunTech Power (STP) Call Value	3/14/2007	36.73	45	5.96	22.53	None
Central Europe & Russia Fund (CEE)	Various	51.03	48.14	6.37	(5.67)	17.90
Patni Computers (PTI)	8/10/2007	20.85	12.16	4.02	(41.72)	0.80
Itron Inc. (ITRI)	11/07/2007	85.01	96.82	6.41	13.76	None
Anthracite (AHR)	11/09/2007	7.97	6.98	4.62	(12.42)	15.60
ClickSoftware (CKSW)	11/09/2007	4.61	2.89	1.91	(37.31)	None
Harvest Energy (HTE)	11/28/2007	21.01	23.23	6.15	10.54	16.30
iRobot (IRBT)	12/18/2007	18.65	18.07	3.89	(3.11)	None
MCG Capital (MCGC)	Various	10.86	8.46	4.48	(22.12)	15.00
LDK Solar (LDK)	01/22/2008	30.49	30.09	5.97	(1.32)	None
Cypress Semiconductor Corporation (CY)	04/02/2008	24.89	24.80	5.43	(0.38)	None
Cash				14.31
Total Portfolio					4.11

• For SunTech Power (STP), we wrote a covered call option for 2008 June 45 on 4/1/2008 at $4.30.
• For Taiwan Semiconductor (TSM), we wrote a covered call option for 2008 April 12.5 at $0.35 on 10/18/2007.
• For Altria and Philip Morris International, assumed spin-off ratio of 30.83:69.17. Altria to yet to supply the cost-basis info