Spring Meeting 2005

SEAL Guest Speaker

Santa Fe Meeting April 16th 2005
Timothy R. Lee, ASA

Timothy Lee is a Senior Vice President of Mercer Capital, a business valuation and investment banking firm serving a national and international clientele.

Since its founding in 1982, Mercer Capital’s financial analysts have completed nearly 5,000 valuation engagements. They are frequently called upon to testify in state and federal courts and to testify before various advisors in mergers and acquisitions, representing either the buyers and/or the sellers, and issue opinions on behalf of boards of directors in numerous of those transactions.

Mr. Lee holds a bachelors degree in finance from the University of Memphis. He is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers.

Mr. Lee has been involved in hundreds of business valuation and advisory engagements. The breadth of Mr. Lees engagements includes mergers and acquisitions, employee stock ownership plans, profit sharing plans, estate and gift tax planning and compliance matters, limited and general partnerships, corporate planning and reorganizations, and litigation involving dissenting shareholder rights, marital dissolution, tax matters, and other shareholder conflicts. His assignments have included a broad array of operational and holding company entities involved in contracting, manufacturing, wholesale and retail industries, as well as professional and general service businesses.

Mr. Lee, Welcome to SEAL.

SEAL Attendees

Santa Fe Meeting April 16th 2005:

	Last Name	First Name	Company Name	Spouse/Guest Name
1.	Allcorn	Skip	Coastal Construction Products, Inc.	Peggy
2.	Annal	Dave	Sika Corp.	Beatrice
3.	Austin	Curt	John Latta Associates, Inc.	Jana
4.	Barnett	Duane	SSI, Inc.	Angie
5.	Bartle	Tony	TB Philly, Inc.	None
6.	Bourne	John	PROSOCO, Inc.	Joanne
7.	Boyer	David	PROSOCO, Inc.	Anita
8.	Burkett	Larry	GE Advanced Materials	None
9.	Burrows	William	Ink Smith, Inc.	Harriet Egilske
10.	Carle	Bob	Pecora Corp.	None
11.	Cathey	Brandon	SSI, Inc.	None
12.	Church	John	Dow Corning	None
13.	Coy	Bruce	Smalley & Company	Catherine
14.	Demas	Carl	Sunshine Supply Co., Inc.	Margaret
15.	DesRochers	Rene	DM Figley Co., Inc.	Rosemary
16.	Evans	Jerry	Dow Corning
17.	Garvin	Brian	Garvin Brown Construction Products	None
18.	Garvin, Sr.	Brendan	Garvin Construction Products	Joan
19.	Goncharow	William	Guaranteed Supply	None
20.	Harrell	Martin	Coastal Construction Products, Inc.	Ann
21.	Harrell	William	Coastal Construction Products, Inc.	Barbara
22.	Hartman	Steve	Industrial Thermo Polymers, Ltd.
23.	Heusel	David	Georgia Construction Products, Inc.	None
24.	Hoban	Mike	Bostik Findley Inc.
	Horstman	Evie	Tremco, Inc.
25.	Ittes	John	Atlas Supply	None
26.	Kaminsky	James	Tremco, Inc.	None
27.	Kessel	Chris	Atlas Supply	None
28.	Larsh	Steve	Glenrock Company	Barbara
29.	LeClere	Igor	Bostik Findley Inc.	None
30.	Lee	Tim	Mercer Capital
31.	Leftwich	Peter	Smalley & Company	None
	Levin	Howard	Ink Smith, Inc.
32.	McCain	Bruce	S&S Sales Corp.	Donna
33.	McCain	Patrick	S&S Sales Corp.	None
34.	Mylott	Tom	Bostik Findley Inc.	None
35.	Nee	Daniel	Dow Corning	None
36.	Nowak	Chris	Dow Corning	None
37.	Oakes	Susan	Tremco, Inc.	None
38.	Pyle	James	Sunshine Supply Co., Inc.	Anita
39.	Rafferty	Mike	Goedecke	None
40.	Rathmann	Jim	Tremco, Inc.	Becky
41.	Rich	Will	Tremco, Inc.	None
42.	Saker	Brian	Degussa Building Systems, Inc.	None
43.	Schroeder	Mike	Nomaco	Mary
44.	Schroeder	Robert	Dow Corning	None
45.	Senger	Ed	Degussa Building Systems, Inc.	None
46.	Shiffler	Joe	Albion Engineering Co.	None
47.	Soeder	Mike	Tremco, Inc.
48.	Starke	Don	Degussa Building Systems, Inc.	Cindy
49.	Stubblefield	John	Pecora Corp.	None
50.	Tessier	Paul	PROSOCO, Inc.	Jenny Erickson
51.	Torres	Lloya	Dow Corning	None
52.	Vanderpool	David	Nomaco	None
53.	Vann	Joanne	Industrial Thermo Polymers, Ltd.
54.	Verne	Scott	CETCO	None
55.	Wells	Tim	GE Advanced Materials	None
56.	White	Michael	SEAL
57.	Zens	Bill	Allied Building Products	None
58.	Zeruch	Ellen	Tremco, Inc.