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Mr. Pappas was previously President and a director of the Company and served in that capacity until October 1 2003. He continues to serve as Director. Mr. Pappas has over thirty years of entrepreneurial corporate executive real estate management and development experience most recently from July 1988 to the present as Managing General Partner of SPL Associates ("SPL") based in Brooklyn New York. SPL has acquired and manages numerous large-scale residential and commercial real estate holdings in New York. Mr. Pappas was the founder and President of Servco Leasing Corporation from 1970 to 1980 during which time it became the largest third-party leasing company for Xerox equipment. Mr. Steve Pappas and Dr. Nicholas Pappas the Company's Chairman are not related. | 