X0202 3 2008-01-31 0 0000081050 Chazak Value Corp. CARD.OB 0001424408 IA Capital Partners, LLC C/O CHAZAK VALUE CORP. 75 ROCKEFELLER PLAZA NEW YORK NY 10019 0 0 1 0 Common Stock 924000 D IA Capital Partners, LLC ("IA Capital") received its shares of Common Stock as a distribution from The 500 Group, LLC, pursuant to that certain Funding Agreement, dated as of 1/18/2008, among The 500 Group, LLC, its members (including IA Capital), and PubliCARD, Inc., the Issuer's predecessor. Roger Ehrenberg ("Ehrenberg"), a director of the Issuer, is the managing member of IA Capital and the beneficial owner of 40% of the shares of Common Stock owned by IA Capital. The remaining shares owned by IA Capital are beneficially owned (i) 40% by Ehrenberg's spouse, (ii) 10% by the Ethan Ehrenberg Trust, and (iii) 10% by the Andrew Ehrenberg Trust. Ehrenberg is the trustee of each of such trusts. Ehrenberg disclaims beneficial ownership of the shares beneficially owned by his spouse and by such trusts except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that he owns such shares for purposes of Section 16. /s/Roger Ehrenberg, Managing Member 2008-01-31