Extension of 404 Reporting Deadline for Non-Accelerated filers and Foreign Private Issuers, March 2, 2005

Greetings Clients and Associates:

On March 2, the SEC announced a one-year extension for non-accelerated filers and foreign private issuers to be in compliance with the internal control over financial reporting requirements under Section 404 of the Sarbanes-Oxley Act. The compliance date has been extended to the first fiscal year ending on or after July 15, 2006. Please reference the link below for the full text of the release. We encourage all of our clients to continue the process of reviewing and documenting their internal controls to be in compliance with this reporting requirement when it becomes effective.

http://www.sec.gov/news/press/2005-25.htm