ALLAN S. FLISS OF RICHARTZ & FLISS TO HEAD RESEARCH AND DEVELOPMENT COUNCIL OF NEW JERSEY

Denville, N.J., January 14, 1999 — Allan S. Fliss, President of Richartz & Fliss Inc. has been appointed President of the Research and Development (R&D) Council based in Denville, N.J. This appointment came after the retirement of previous Council President, Samuel J. Faiello.

After 28 years of service to the Council, Samuel Faiello resigned as President effective December 31, 1998. Over the past year, Mr. Faiello worked closely with the management firm, Richartz & Fliss Inc. to ensure a seamless transition. Mr. Faiello will be available on a consulting basis.

Other positions on the Council include John E. Daghlian as Executive Director and Micole E. Linehan as Executive Administrator. The Council's offices have been located in Denville, N.J. since July 1, 1998.

The Research & Development Council is a nonprofit organization that works to cultivate an environment that supports the advancement of research and development activity throughout New Jersey. The R&D Council has over 100 member companies.