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Steven E. Karol has been the Managing Partner of Watermill Ventures and Watermill Advisors, providers of investment capital and strategic and other advisory services, since 2002. In addition, Mr. Karol is the Chairman of the Board and Chief Executive Officer of HMK Enterprises, Inc., a privately-held investment company. Mr. Karol is a member of the Board of Directors of Inter-Tel Inc., a publicly-traded provider of business communications systems and related networking applications. Mr. Karol is also on the Board of Directors of J. Walter Company and is Chairman of the Board of Mooney Aerospace Group Ltd. Mr. Karol has been a member of the Board of Directors of the Company since 1997. Mr. Karol has decided not to stand for re-election to the Board of Directors. | 