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 <p>&nbsp;</p>
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 <p>&nbsp;</p>
 </td>
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 <p>&nbsp;</p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
 <td valign="TOP">
 <p><font size="2">(d)</font></p>
 </td>
 <td valign="TOP">
 <p><font size="2"><u>Recent Accounting Standards Affecting the Company</u></font></p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
 <td valign="TOP">
 <p><font size="1">&nbsp;</font></p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
 <td valign="TOP">
 <p><font size="2">In September 2006, the Financial Accounting
 Standards Board (“FASB”) issued Statement of Financial Accounting Standards
 (“SFAS”) No. 157, “Fair Value Measurements” (“SFAS No. 157”), which defines
 fair value, establishes a framework for measuring fair value in generally
 accepted accounting principles, and expands disclosures about fair value
 measurements. This statement does not require any new fair value
 measurements, but provides guidance on how to measure fair value by providing
 a fair value hierarchy used to classify the source of the information. SFAS
 No. 157 is effective for fiscal years beginning after November 15, 2007, and
 all interim periods within those fiscal years. In February 2008, the FASB
 released FASB Staff Position (FSP FAS 157-2 – Effective Date of FASB
 Statement No. 157) which delays the effective date of SFAS No. 157 for all
 non-financial assets and non-financial liabilities, except those that are
 recognized or disclosed at fair value in the financial statements on a
 recurring basis (at least annually), to fiscal years beginning after November
 15, 2008 and interim periods within those fiscal years. The adoption of SFAS
 No. 157 during the interim period ended June 30, 2008, with respect to the
 Company’s financial assets and liabilities did not have a material impact on
 the Company’s Consolidated Financial Statements. The Company is currently assessing the potential impact that
 adoption of this statement would have on its non-financial assets and
 non-financial liabilities, if any.</font></p>
 </td>
 </tr>
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 <td valign="TOP">
 <p><font size="1">&nbsp;</font></p>
 </td>
 <td valign="TOP">
 <p><font size="1">&nbsp;</font></p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
 </tr>
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 <p><font size="1">&nbsp;</font></p>
 </td>
 <td valign="TOP">
 <p><font size="1">&nbsp;</font></p>
 </td>
 <td valign="TOP">
 <p><font size="2">In February 2007, the FASB issued SFAS No. 159,
 “Fair Value Option for Financial Assets and Liabilities” (“SFAS No. 159”).
 SFAS No. 159 allows companies to choose, at specific election dates, to
 measure eligible financial assets and liabilities that are not otherwise
 required to be measured at fair value, at fair value. Under SFAS No. 159,
 companies would report unrealized gains and losses for which the fair value
 option has been elected in earnings at each subsequent reporting date, and
 recognize up-front costs and fees related to those items in earnings as
 incurred. SFAS No. 159 became effective for fiscal years beginning after
 November 15, 2007. The adoption of SFAS No. 159 during the interim period
 ended June 30, 2008 did not have a material impact on the Company’s
 Consolidated Financial Statements due to its election not to measure eligible
 financial assets and liabilities that are not otherwise required to be
 measured at fair value, at fair value.</font></p>
 </td>
 </tr>
 <tr>
 <td valign="TOP">
 <p><font size="1">&nbsp;</font></p>
 </td>
 <td valign="TOP">
 <p><font size="1">&nbsp;</font></p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
 </tr>
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 <p><font size="1">&nbsp;</font></p>
 </td>
 <td valign="TOP">
 <p><font size="1">&nbsp;</font></p>
 </td>
 <td valign="TOP">
 <p><font size="2">In December 2007, the FASB issued SFAS No. 141
 (revised 2007), Business Combinations, which replaces SFAS No 141. The
 statement retains the purchase method of accounting for acquisitions, but
 requires a number of changes, including changes in the way assets and
 liabilities are recognized in the purchase accounting. It also changes the
 recognition of assets acquired and liabilities assumed arising from
 contingencies, requires the capitalization of in-process research and
 development at fair value, and requires the expensing of acquisition-related
 costs as incurred. SFAS No. 141R is effective for business combinations for
 which the acquisition date is on or after the beginning of the first annual
 reporting period beginning on or after December 15, 2008. Management currently believes that the
 adoption of this statement will not have a material impact on the Company’s
 financial statements.</font></p>
 </td>
 </tr>
</tbody></table>
<table>
<tbody><tr>
<td>
<p> </p>
</td>
<td>
<p> </p>
</td>
<td>
<p> </p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>(d)</font></p>
</td>
<td>
<p><font><u>Recent Accounting Standards Affecting the Company</u></font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>In September 2006, the Financial Accounting
 Standards Board (“FASB”) issued Statement of Financial Accounting Standards
 (“SFAS”) No. 157, “Fair Value Measurements” (“SFAS No. 157”), which defines
 fair value, establishes a framework for measuring fair value in generally
 accepted accounting principles, and expands disclosures about fair value
 measurements. This statement does not require any new fair value
 measurements, but provides guidance on how to measure fair value by providing
 a fair value hierarchy used to classify the source of the information. SFAS
 No. 157 is effective for fiscal years beginning after November 15, 2007, and
 all interim periods within those fiscal years. In February 2008, the FASB
 released FASB Staff Position (FSP FAS 157-2 – Effective Date of FASB
 Statement No. 157) which delays the effective date of SFAS No. 157 for all
 non-financial assets and non-financial liabilities, except those that are
 recognized or disclosed at fair value in the financial statements on a
 recurring basis (at least annually), to fiscal years beginning after November
 15, 2008 and interim periods within those fiscal years. The adoption of SFAS
 No. 157 during the interim period ended June 30, 2008, with respect to the
 Company’s financial assets and liabilities did not have a material impact on
 the Company’s Consolidated Financial Statements. The Company is currently assessing the potential impact that
 adoption of this statement would have on its non-financial assets and
 non-financial liabilities, if any.</font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>In February 2007, the FASB issued SFAS No. 159,
 “Fair Value Option for Financial Assets and Liabilities” (“SFAS No. 159”).
 SFAS No. 159 allows companies to choose, at specific election dates, to
 measure eligible financial assets and liabilities that are not otherwise
 required to be measured at fair value, at fair value. Under SFAS No. 159,
 companies would report unrealized gains and losses for which the fair value
 option has been elected in earnings at each subsequent reporting date, and
 recognize up-front costs and fees related to those items in earnings as
 incurred. SFAS No. 159 became effective for fiscal years beginning after
 November 15, 2007. The adoption of SFAS No. 159 during the interim period
 ended June 30, 2008 did not have a material impact on the Company’s
 Consolidated Financial Statements due to its election not to measure eligible
 financial assets and liabilities that are not otherwise required to be
 measured at fair value, at fair value.</font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>In December 2007, the FASB issued SFAS No. 141
 (revised 2007), Business Combinations, which replaces SFAS No 141. The
 statement retains the purchase method of accounting for acquisitions, but
 requires a number of changes, including changes in the way assets and
 liabilities are recognized in the purchase accounting. It also changes the
 recognition of assets acquired and liabilities assumed arising from
 contingencies, requires the capitalization of in-process research and
 development at fair value, and requires the expensing of acquisition-related
 costs as incurred. SFAS No. 141R is effective for business combinations for
 which the acquisition date is on or after the beginning of the first annual
 reporting period beginning on or after December 15, 2008. Management currently believes that the
 adoption of this statement will not have a material impact on the Company’s
 financial statements.</font></p>
</td>
</tr>
</tbody></table>