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IESV One to watch! News releases on the way. Look....

IESV releases *President's Letter* on website. Definitely one to watch closely.

Currently .04 X .06 Float is approx. 12 million. This could get very exciting short term imo.

http://www.intrepid21.com/presidents-letter.htm

President's Letter

By: Dennis Keiser, President & CEO

August 14, 2002

The Officers and Directors have dedicated considerable time and effort formulating the business plan and model for the Company. A preliminary business plan is now set in place that shows there are basically five business elements—Engineering Services, Science and Technology Services, Ethanol Production, Renewable Energy Production, and Mineral Holdings. In this respect, the Company is now organized around these business elements. Four divisions have been organized: Engineering Services, Virtual Science Services, Ethanol Production and Renewable Energy and Natural Resources. The Renewable Energy and Natural Resources division is the only division that is not being managed by a permanently assigned manager. Dr. Dustin is acting as the division manager until an appropriate person can be assigned.

Our business model we believe is well conceived. Simply stated, the model is continued expansion our services businesses and to utilize the profits and resources from those ventures for development of our other business elements. Currently the services activities are growing at an annual rate of over 30%. Focus of the service businesses is on support to Federal Agencies such as the U. S. Dept. of Energy. We have six different proposals in various stages of preparation for submittal to the DOE that, combined, total several millions of dollars in awards. There are four proposals that have been sent to federal agencies that we are anxiously awaiting word on as to possible award--one is a proposal to the National Institute of Safety and Health (NIOSH) for which award announcement is imminent.

Very shortly, we will be making a news release regarding the selection of a site for the construction of Idaho’s first large-scale Ethanol facility. This facility, we believe, will be the first of several facilities to be built in Idaho over the next 5-10 years. It is our plan to provide the leadership and direction for the establishment and construction of this new industrial activity in Idaho. Our analysis shows that Idaho could comfortably support upwards of a half billions gallons of Ethanol production per year. It is our intention to design, permit and construct a significant part of that production. Over the next few weeks we will be announcing the formation of a special advisory group to assist us in laying out the development plan for this new industry. This group will be composed of various industrial, political and academic leaders from around the state. I will personally chair this important group.

Some interesting things are also developing in the area of low-head hydro energy. We have started discussions with a company that specializes in the location of low-head hydro plants to determine if joint efforts between the two companies might be advantageous relative to location and construction of such facilities around the United States. Our core competency of Engineering/Technology is the attractive feature for this other company. This would be in keeping with our business model -- that is, to exploit our services resources to develop other business element areas.

It is my plan to provide these President’s Messages bi-weekly – or more frequently if significant events occur. I will to make these messages as succinct and straight forward as possible, but I see this as a great opportunity – as well as a personal responsibility – to keep all of our “owners” informed as to the health and current activities of this burgeoning company. These are exciting times!

If there are issues and or items you would like for me to address in these messages send me an e-mail: [e-mail] and I will try to address them.

Thanks

Dennis Keiser, Pres./CEO


Legal Disclaimer:

Certain statements contained herein constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. While the Company believes that the assumptions underlying such forward looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward looking information contained herein. Further, the Company assumes no obligation to update or otherwise publicly revise the forward looking information disclosed herein to reflect circumstances existing after the date hereof.