Harry Freund and Jay Goldsmith are Chairman and President, respectively, and Co-Founders of Balfour Investors, Inc., which they founded together in 1975. Balfour Investors is a leading investment bank specializing in distressed investing for over 35 years.

They are also Vice Chairman and Chairman, respectively, of Glasstech Inc. Glasstech is currently the world's leading manufacturer of industrial furnaces used for the production of curved glass for the automobile, architectural, and solar industries. Mr. Freund and Mr. Goldsmith have actively participated as lead investors in the reorganization of numerous companies through Balfour Investors. Included in this group are Chicago Milwaukee Railroad, Chicago Rock Island Railroad, Circle K, Fair Lanes, Glasstech Inc., Global Marine, Greyhound Lines, Hills Department Stores, Intel, Inc., Leslie Fay, Liggett's, Nucorp Energy Inc., Production Resources, Publicard Inc, Public Service of New Hampshire, Resorts International, Revco, Western Union, and Wheeling-Pittsburgh. Mr. Freund and Mr. Goldsmith were formerly President and Chairman of Croyden Capital Corporation Chairman, respectively, Vice Chairman and Chairman of Nucorp Energy Inc., respectively, each served as Chairman of Paterson Parchment Paper Company and Roberts Consolidated Industries, Inc. Mr. Freund and Mr. Goldsmith have served on various Boards of Directors and Creditor Committees including Fair Lanes, Hills Department Stores, Leslie Fay, New Valley Corporation, once owned by Western Union, and Revco. They are each board members and officers of many charitable organizations.

Prior to founding Balfour, Mr. Freund began his career with similar roles as a securities analyst at G. Tsai & Company, Hayden Stone, and Loeb Rhoades & Company. Mr. Freund holds a Bachelor of Science in Economics from the Wharton School of Business of the University of Pennsylvania. Prior to founding Balfour, Mr. Goldsmith began his career as a securities analyst at H. Hentz & Co. (1966-1973) and later at E.F. Hutton from (1973-1975). Mr. Goldsmith holds a Bachelor of Arts in Medieval History from the State University at Buffalo.

Harry Freund at hfreund@balfourinvestors.com

Jay Goldsmith at jgoldsmith@balfourinvestors.com

Harry Freund
Jay Goldsmith