Machinery Valuation Services Incorporated

19131 Industrial Blvd

Elk River, MN 55330

Phone: 763-441-5152 Fax: 763-441-5075

Educational Background:

1968 BA Economics, University of Wisconsin, Madison

1978 Certified Financial Planner, College of Financial Planning - Denver, CO

1983 Registered Securities Principal

1986 Registered Investment Advisor

1993 Accredited Equipment Appraiser

1998 Certified Equipment Appraiser

Professional Background:

- Currently Owner and President of Used Machinery Sales, Inc.. UMS has been in the machinery business since 1988. Dealings have included multiple domestic and international transactions

- Sales Manager for IBM

- Senior Vice President of Securities with the tenth largest independent oil company in the United States.

- Owner of Roedel Financial Securities Corporation. A company that leased IBM Computer Equipment Internationally.

- Independent Financial Consultant for companies such as E.F. Hutton

- Owner of Integrated Corporate Services, Inc.. A company that conducted educational training and consulting services to over 250 Minnesota corporations.

- Used Machinery Sales, Inc. is a member in good standing of the Machinery Dealers National Association (MDNA)

- John F. Roedel is a Certified Equipment Appraiser sanctioned by the Association of Machinery and Equipment Appraisers (AMEA)