Mark A. Boyar, President of Mark Boyar and Company, Inc. has worked as a securities analyst since 1968. He began actively managing money in 1975 and officially launched Boyar Asset Management in 1983. In October 1987 a group headed by Mark A. Boyar acquired control of American Corporate Ltd., a closed end fund listed on the Sydney Stock Exchange, which was trading at a deep discount to its net asset value. Five years later he liquidated the fund at a premium to net asset value. On December 11, 1990 Mr. Boyar created Boyar Partners L.P. This entity invests in a small number of businesses that are selling below their intrinsic value. It has the ability to go both long and short. In May 1998, Mark Boyar launched his first mutual fund, The Boyar Value Fund. In addition, Mark Boyar has published a monthly research report since 1975 entitled Asset Analysis Focus (AAF). This publication identifies and evaluates companies Mr. Boyar feels are intrinsically undervalued. Approximately 43% of the companies published in AAF have been taken over or liquidated, the vast majority at a significant premium to when they were initially profiled. As a successful money manager and the publisher of AAF, Mark Boyar is interviewed and quoted regularly in such publications as Barron’s, Business Week, Financial World, Forbes, Money Magazine, The Wall Street Journal, USA Today, The International Herald Tribune, and The New York Times. He also frequently appears on the CNBC television network, and has been a guest on Wall Street Week with Louis Rukeyser. In addition, Mark Boyar speaks frequently on the valuation of corporate assets as well as on stock selection. He has spoken at the Cleveland and Milwaukee Societies of Security Analysts, the Chase Exchange, the SIRE Club, the Ceil Walzer Memorial Lecture Series at The New School for Social Research, The Canadian Life and Health Insurance Association, Inc., Annual Investment Conference, and The New York Bankers Association among others. He also taught a course on mergers and acquisitions at The New School for Social Research. Before coming to Wall Street, Mark Boyar was employed on the audit staff of Price-Waterhouse. He earned a B.S. degree from C.W. Post College of Long Island University in June 1968, and attended Suffolk University Law School in Boston, Massachusetts. Since 1970, he has been a member of the New York Society of Security Analysts and the Federation of Financial Analysts.