portfolio page seen as lik-farm?

If our portfolio links to all our sites, and they to us...

[WileE]

If a web developer has a portfolio page that links to all clients, and all clients have a link "developed by XYZ" that point back to the developer...

Will this be seen as a link farm and thereby be penalized?

The clients do not link to each other.

[hetzeld]

WileE,

This won't be considered as a link farm providing all the clients don't have a similar portfolio page on their web site with links to every other client.

Dan