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Federico Pignatelli served as Chairman of our Board from 1994 until March 2006 at which point he resigned as Chairman of our Board and received the title Chairman Emeritus. He has served as a director since 1991. He is the Founder and has served as President of Art & Fashion Group since 1992. Art & Fashion Group is a holding company of an array of businesses providing services to the advertising industry including the world's largest complex of digital and film still photography studios for production and post-production. Previously Mr. Pignatelli was a Managing Director at Gruntal & Company an investment banking and brokerage firm and was a Managing Director of Ladenburg Thalmann & Co. another investment banking and brokerage firm. | 