LOUIS DISILVESTRO, CFA, ASA

PRESENT POSITION: Mr. Louis DiSilvestro is a Vice President of Klaris, Thomson & Schroeder, Inc. Mr. DiSilvestro specializes in financial valuations.

PROFESSIONAL AFFILIATIONS: Mr. DiSilvestro is a Chartered Financial Analyst. He is a member of the Financial Analysts Federation and the Association for Investment Management and Research. He is also an Accredited Senior Appraiser (ASA) in the valuation of businesses and intangible assets by the American Society of Appraisers.

EXPERIENCE: Appraisals prepared by Mr. DiSilvestro have included the valuation of closely held companies of all varieties and endeavors, all types of intangible assets, options and warrants, and inactively traded public and restricted securities. Specifically, his experience encompasses the valuation of capital stock for closely held companies involving controlling and minority interests for ESOPs, buyouts, recapitalizations, and estate tax planning; transaction analyses and due diligence studies for solvency and fairness opinions; allocation of purchase price studies; and the valuation of intangible assets such as patents, technology, trademarks, and customer lists, among others. In addition to the foregoing, he has prepared contemporaneous documentation studies relating to IRC Section 482.

EMPLOYMENT: Before joining Klaris, Thomson & Schroeder, Inc., Mr. DiSilvestro was a Senior Valuation Consultant with another national multi-discipline appraisal firm. Mr. DiSilvestro began his employment with a national multi-discipline appraisal firm in 1988. Prior to his position at that firm, he worked as an economic analyst specializing in the valuation of economic damages.

EDUCATION: He holds a B.S. degree in finance/accounting from Drexel University and an M.B.A. from Drexel University.