JOEL L. REED is the principal responsible for the activities of
Relational Advisors, LLC. He is also a principal and founder of
Relational Investors and Titan Investment Partners. Mr. Reed has advised
numerous public and private companies’ boards of directors concerning
mergers and acquisitions, financings, shareholder matters and crisis
situations. Prior to joining the firm in 1994, Mr. Reed was the
president and chief executive officer of Wagner & Brown Ltd. of Midland,
Texas, a privately owned group of companies engaged in energy, real
estate, manufacturing, agribusiness and investment services. During his
10 years with Wagner & Brown, Mr. Reed’s major accomplishments included
formation of an in-house investment-banking group, numerous investments
and acquisitions with financing commitments in excess of $10 billion.
From 1981 to 1984, Mr. Reed was a member of the founding group of
Ensource, Inc., a NYSE-listed company, as well as its controller and
chief financial officer. Prior to 1981, he was a manager with Deloitte,
Haskins & Sells. He has served as a member of boards of directors for
public and private corporations. Mr. Reed is currently a director of Del
Mar Database, Inc. A 1973 graduate of Oklahoma State University, Mr.
Reed holds Bachelor’s and Master’s degrees in accounting and is a
Certified Public Accountant.
J.REED / R.WOOLWAY - RELATIONAL ADVISORS LLC
April 19, 2004