Stephen L. Fischer

STEPHEN L. FISCHER, Vice President of Capital Markets, has been Vice
President of Beta Capital Group, Inc., since March 1996, and from April
1996 through March 1998 he was also a registered representative of
Signal Securities, Inc., a registered broker-dealer. Between 1991 and
before joining Beta Capital Group, Inc., in 1996, Mr. Fischer was a
Registered Representative of Peacock, Hislop, Staley & Given, an
Arizona-based investment banking firm. Since 1983, Mr. Fischer has held
various positions in the financial services industry in investment
banking, retail, and institutional sales, with a special emphasis on the
oil and gas exploration sector.