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Glass Lewis & Co. "Proxy Paper"

(August 18, 2004)

The Glass Lewis & Co. "Proxy Paper" accessible from the link below has been made available to Forum participants according to an engagement reported August 12, 2004, and addresses issues raised by the Forum.

Note:  Glass Lewis released its Proxy Paper on August 18, 2004, but revised and republished the report on August 19, 2004.  The revised version (1) changed Glass Lewis' classification of a director nominee, Walter P. Schuetze, from "affiliated" to "independent" in a chart at the top of page 4, and (2) modified a sentence on page 6 referring to the director nominee Russell M. Artzt from its original statement, saying "There are only two members still on the board from the time period in which the SEC conducted its investigations based on the issues discussed above," to say instead that "There are only two members still on the board from the time period in which the Company has acknowledged improper accounting."

The report presented below is Glass Lewis' August 19, 2004 revised version.





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