| Bluegrass Capital |
| Jim Carolan is a principal in Carolan & Company, a consulting firm specializing in business turnarounds, planning and business development. He has over thirty year of management and executive experience with Johnson & Johnson, Union Carbide and Lydall, Inc. Jim gained extensive operations, planning, international and marketing during a twenty-two year career with Lydall, a specialty materials company. Most of his assignments involved turning around problem automotive, filtration and medical device businesses. He also served as Lydall’s Executive Vice President and as a member of their Board of Directors. His consulting activities have included interim management assignments with a Chapter 11 specialty paper company and with a financially distressed school, as well as merger and acquisition and business development projects. Jim holds a BS degree in Accounting from Fordham University and currently resides on the New Hampshire Seacoast. He is a trustee of a regional New England theater and is Vice President of the Board of Directors of the Monarch School of New England, a school for children with multiple disabilities. |
| Jim Carolan |
| © 2004 Bluegrass Capital, Inc. |

