PROGRESSIVE ASSET MANAGEMENT INC

expiry = 2002-01-18...IBIT A(1)(A) EXHIBIT a(1)(A) OFFER TO PURCHASE UP TO 250,000 OUTSTANDING SHARES OF COMMON STOCK OF PROGRESSIVE ASSET MANAGEMENT, INC. TO REPURCHASE ITS SHARES AT $0.60 NET PER SHARE IN CASH THE OFFER WILL EXPIRE AT 5:00 P.M., PACIFIC TIME, ON JANUARY 18, 2002. THIS OFFER WILL NOT BE EXTENDED. WITHDRAWAL RIGHTS WILL BE AVAILABLE UNTIL THE EXPIRATION DATE AND AT ANY TIME ON OR AFTER JANUARY 18, 2002, UNLESS AND UNTIL THE SHARES ARE ACCEPTED FOR PAYMENT. PROGRESSIVE ASSET MANAGEMENT, INC. IS OFFER...

threshold = 100...ll shares properly tendered and not withdrawn on or before the expiration time by or on beha1f of shareholders who beneficially owned as of the close of business on November 13, 2001, and continue to beneficially own as of the expiration time, an aggregate of fewer than 100 shares ("Odd Lot Owners"). See Section 2. To avoid proration, however, an Odd Lot Owner must properly tender all shares that such Odd Lot Owner beneficially owns; partial tenders will not qualify for this preference. This preference is not available to owners of 100 or more shares, even if such owners have separate stock certificates for fewer than 100 s...

txn_type = TENDER_OFFEREX-99.A(1)(A) 3 f77233ex99-a1a.txt EXHIBIT A(1)(A) EXHIBIT a(1)(A) OFFER TO PURCHASE UP TO 250,000 OUTSTANDING SHARES OF COMMON STOCK OF PROGRESSIVE ASSET MANAGEMENT, INC. TO REPURCHASE ITS SHARES AT $0.60 NET PER SHARE IN CASH THE OFFER WILL EXPIRE AT 5:00 P.M., PACIFIC TIME, ON JANUARY 18, 2002. THIS OFFER WILL NOT BE EXTENDED. WITHDRAWAL RIGHTS WILL BE AVAILABLE UNTIL THE EXPIRATION DATE AND AT ANY TIME ON OR AFTER JA...