X0202 4 2007-03-20 1 0001092492 AXESSTEL INC AFT 0001349475 Stephens Investment Management, LLC ONE SANSOME STREET SUITE 2900 SAN FRANCISCO CA 94104 0 0 0 1 See footnote 0001366497 STEPHENS PAUL BARTLETT C/O STEPHENS INVESTMENT MANAGEMENT, LLC ONE SANSOME STREET, SUITE 2900 SAN FRANCISCO CA 94104 0 0 0 1 See footnote 0001366498 STEPHENS WILLIAM BRADFORD C/O STEPHENS INVESTMENT MANAGEMENT, LLC ONE SANSOME STREET, SUITE 2900 SAN FRANCISCO CA 94104 0 0 0 1 See footnote 0001366264 STEPHENS PAUL HARBOUR C/O STEPHENS INVESTMENT MANAGEMENT, LLC ONE SANSOME STREET, SUITE 2900 SAN FRANCISCO CA 94104 0 0 0 1 See footnote Common Stock, $0.0001 par value per share 2007-03-20 4 S 0 554185 1.52 D 987095 I By: Nanocap Qualified Fund, L.P. Common Stock, $0.0001 par value per share 2007-03-20 4 S 0 205005 1.52 D 632492 I By: Nanocap Fund, L.P. Common Stock, $0.0001 par value per share 2007-03-20 4 S 0 340810 1.52 D 618313 I By: Orphan Fund, L.P. These securities are held directly by Orphan Fund, L.P., Nanocap Fund, L.P. and Nanocap Qualified Fund, L.P., U.S. investment limited partnerships (the "Partnerships"), none of which, for Section 16 purposes, is itself the beneficial owner of more than 10% of the issuer's common stock. Stephens Investment Management, LLC ("SIM") is the general partner and investment manager of each of the Partnerships. Paul Harbour Stephens, Paul Bartlett Stephens and W. Bradford Stephens are each managing members and minority owners of SIM. Each of SIM, Paul Harbour Stephens, Paul Bartlett Stephens, W. Bradford Stephens and the Partnerships expressly disclaims beneficial ownership in these securities, except to the extent of their respective pecuniary interests therein. In addition, each reporting person disclaims membership in a group with any non-reporting person within the meaning of Rule 13d-5(b)(1) and Rule 16a-1(a)(1). By: Stephens Investment Management, LLC; By: Paul Bartlett Stephens, its Managing Member; /s/ P. Bartlett Stephens 2007-03-30 By: Paul Bartlett Stephens; /s/ Paul Bartlett Stephens 2007-03-30 By: W. Bradford Stephens; /s/ W. Bradford Stephens 2007-03-30 By: /s/ Paul H. Stephens 2007-03-30