SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
DISPLAY TECHNOLOGIES, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
25469V102
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(CUSIP Number)
Gary A. Downing
Raymond James Capital Partners, L.P.
880 Carillon Parkway
St. Petersburg, FL 33716
(727) 575-5575
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 14, 2000
--------------------------------------------------------------------------------
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f), or 13d-1(g), check the following
box [X]
(Continued on following pages)
<PAGE>
SCHEDULE 13D
CUSIP No. 25469V102
---------
1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NUMBER
Raymond James Capital Partners, L.P. 59-3492968
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7. SOLE VOTING POWER
SHARES BENEFICIALLY OWNED
BY EACH REPORTING 1,325,999
PERSON WITH ------------------------------------
8. SHARED VOTING POWER
None
------------------------------------
9. SOLE DISPOSITIVE POWER
1,325,999
------------------------------------
10. SHARED DISPOSITIVE POWER
None
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,325,999 shares
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (11) EXCLUDES CERTAIN SHARES [_]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.5%
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14. TYPE OF REPORTING PERSON
PN
<PAGE>
SCHEDULE 13D
CUSIP No. 25469V102
1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NUMBER
Renaissance Capital Growth & Income Fund III, Inc. 75-2533518
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
-----------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF 7. SOLE VOTING POWER
SHARES BENEFICIALLY OWNED
BY EACH REPORTING 948,596
PERSON WITH ------------------------------------
8. SHARED VOTING POWER
None
------------------------------------
9. SOLE DISPOSITIVE POWER
948,596
------------------------------------
10. SHARED DISPOSITIVE POWER
None
-----------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
948,596 shares
-----------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (11) EXCLUDES CERTAIN SHARES [_]
-----------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.1%
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14. TYPE OF REPORTING PERSON
IV
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<PAGE>
SCHEDULE 13D
CUSIP No. 25469V102
1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NUMBER
Renaissance US Growth & Income Trust PLC None - Foreign
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
-----------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_]
-----------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
England
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NUMBER OF 7. SOLE VOTING POWER
SHARES BENEFICIALLY OWNED
BY EACH REPORTING 947,861
PERSON WITH ------------------------------------
8. SHARED VOTING POWER
None
------------------------------------
9. SOLE DISPOSITIVE POWER
947,861
------------------------------------
10. SHARED DISPOSITIVE POWER
None
-----------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
947,861 shares
-----------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (11) EXCLUDES CERTAIN SHARES [_]
-----------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.1%
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14. TYPE OF REPORTING PERSON
IV
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<PAGE>
ITEM 1. SECURITY AND ISSUER
This statement relates to the Common Stock ("Common Shares") of Display
Technologies, Inc. (the "Company"). The principal executive offices of the
Company are located at 5029 Edgewater Dr., Orlando, Florida 32810.
ITEM 2. IDENTITY AND BACKGROUND
(a) This statement is filed by (i) Raymond James Capital Partners, L.P.
("Raymond James"), (ii) Renaissance Capital Growth & Income Fund III, Inc.
("Renaissance III"), and (iii) Renaissance US Growth & Income Trust PLC
("Renaissance PLC"; Raymond James, Renaissance III, and Renaissance PLC,
collectively, the "Reporting Persons").
Certain information concerning the general partner of Raymond James and the
directors and executive officers of the other Reporting Persons is set forth on
Attachment 1 attached hereto and incorporated herein by reference.
(b) Raymond James is a limited partnership organized under the laws of the
State of Delaware, with its principal business and principal office at 880
Carillon Parkway, St. Petersburg, Florida 33716.
Renaissance III is a corporation organized under the laws of the State of
Texas, with its principal business and principal office at 8080 N. Central
Expressway, Suite 210, LB 59, Dallas, Texas 75206-1857.
Renaissance PLC is a public company limited by shares organized under the
laws of England and Wales, with its principal business and principal office at
c/o Renaissance Capital Group, Inc., Investment Manager, 8080 N. Central
Expressway, Suite 210, LB 59, Dallas, Texas 75206-1857.
The business addresses of the general partner of Raymond James and the
directors and executive officers of the other Reporting Persons are set forth on
Attachment 1 to this Statement and incorporated herein by reference.
(c) Raymond James is engaged in the business of making equity investments.
Renaissance III and Renaissance PLC are engaged in the business of investing in
U.S. public companies.
(d) Neither any of the Reporting Persons nor, to the best knowledge of such
persons, any person named in Attachment 1 to this Statement, has been convicted
in a criminal proceeding in the past five years (excluding traffic violations or
similar misdemeanors).
(e) Neither any of the Reporting Persons nor, to the best knowledge of such
persons, any person named in Attachment 1 to this Statement, was during the last
five years a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction as a result of which such person was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
(f) All persons named on Attachment 1 to this Statement are citizens of the
United States, except as otherwise indicated on such Attachment.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The total amount of funds required by Raymond James to acquire the
securities reported in Item 5(a) was $4,000,000. The source of such funds was
capital of Raymond James.
The total amount of funds required by Renaissance III to acquire the
securities reported in Item 5(a) was $3,299,741. The source of such funds was
capital of Renaissance III.
The total amount of funds required by Renaissance PLC to acquire the
securities reported in Item 5(a) was $3,295,679. The source of such funds was
capital of Renaissance PLC.
<PAGE>
ITEM 4. PURPOSE OF THE TRANSACTION
The Reporting Persons each acquired beneficial ownership of the Common
Shares reported in Item 5(a) in the ordinary course of business for purposes of
investment. The Reporting Persons are filing this statement to report that,
individually and as a group, they currently have the additional purpose of
influencing control of the Company.
The Reporting Persons are proposing a transaction with the Company whereby
Raymond James would guarantee $1,250,000 of additional Company debt, and
Renaissance PLC and/or Renaissance III would guarantee $500,000 of additional
Company debt. The Reporting Persons are proposing that in connection with such
guarantees, (i) all but two of the existing directors of the Company would be
required to resign, (ii) the executive officers of the Company would be required
to resign, (iii) Gary A. Downing, William Pecora, and Robert Pearson would be
elected to the Board of Directors, (iv) the conversion price of the Series A
Convertible Preferred Stock and the Convertible Debentures held by the Reporting
Persons would be reduced to $2.00 per share, (v) the Company would issue to
Raymond James warrants to purchase 2,150,000 Common Shares at an exercise price
of $0.125 per share, (vi) the Company would issue to Renaissance PLC and/or
Renaissance III warrants to purchase 850,000 Common Shares at an exercise price
of $0.125 per share, (vii) the Series A Convertible Preferred Stock and the
Convertible Debentures would accrue dividends and interest for six months, and
(viii) management employees of the Company would be awarded options to purchase
2,000,000 Common Shares at an exercise price of $0.125 per share after the
closing. Following the proposed transaction, the Reporting Persons are proposing
that the Company offer the stock or assets of the Company's Ad Art subsidiary
for sale to one or more third parties and that the proceeds be used to reduce
debt of the Company.
Consummation of the proposed guarantee and related transactions are subject
to agreement to such proposal by the Company and its principal lender and
negotiation and execution of definitive documents acceptable to all parties. The
Reporting Persons may amend or withdraw their proposal at any time at their sole
discretion.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Raymond James beneficially owns 1,325,999 Common Shares. Renaissance
III beneficially owns 948,596 Common Shares, and Renaissance PLC beneficially
owns 947,861 Common Shares. The Reporting Persons as a group (the "Group")
beneficially own 3,222,456 Common Shares. Based upon information contained in
the Company's most recent public filing containing such information filed with
the Securities and Exchange Commission, the Common Shares beneficially owned by
Raymond James, Renaissance III, Renaissance PLC, and the Group represent
approximately 15.5%, 11.1%, 11.1%, and 37.6%, respectively, of the outstanding
Common Stock of the Company.
(b) Each of the Reporting Persons has or will have upon the conversion or
exercise of the convertible securities and warrants issued to it by the Company
the sole power to vote and dispose of all of the Common Shares that it
beneficially owns. None of the Reporting Persons shares voting or disposition
power with any person with respect to the Common Shares.
(c) No transaction in the Common Shares was effected by a Reporting Person
during the past 60 days.
(d) No person other than the Reporting Persons has the right to receive or
the power to direct the receipt of dividends from, or the proceeds from the sale
of, the Common Shares beneficially owned by the Reporting Persons.
(e) Not applicable.
ITEM 6. CONTRACT, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
Pursuant to an Investors' Rights Agreement dated July 30, 1999, among the
Company and the Reporting Persons, the Reporting Persons have preemptive rights
to purchase a portion of any additional securities offered for sale by the
Company.
<PAGE>
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1 Joint Filing Agreement Pursuant to Rule 13d-1(k)
Exhibit 2 Proposed Terms of Guarantee
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct as of this 20th day of December 2000.
RAYMOND JAMES CAPITAL PARTNERS, L.P.,
a Delaware limited partnership
By: RJC PARTNERS, L.P., a Delaware limited
partnership, its General Partner
By: RJC PARTNERS, INC.
a Delaware corporation, its General Partner
By: /s/ Gary A. Downing
-------------------------------------------
Gary A. Downing, President
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct as of this 20th day of December 2000.
RENAISSANCE CAPITAL
GROWTH & INCOME FUND III, INC.
By: /s/ Robert C. Pearson
--------------------------------------------
Name: Robert C. Pearson
------------------------------------------
Title: Senior Vice President
-----------------------------------------
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct as of this 20th day of December.
RENAISSANCE US
GROWTH & INCOME TRUST PLC
By: /s/ Robert C. Pearson
--------------------------------------------
Name: Robert C. Pearson
------------------------------------------
Title: Senior Vice President
-----------------------------------------
<PAGE>
ATTACHMENT 1
The general partner of Raymond James is RJC Partners, L.P., a limited
partnership organized under the laws of the State of Delaware with its principal
business and principal office at 880 Carillon Parkway, St. Petersburg, Florida
33716. The general partner of RJC Partners, L.P. is RJC Partners, Inc., a
corporation organized under the laws of the State of Delaware, with its
principal business and principal office at 880 Carillon Parkway, St. Petersburg,
Florida 33716. The name, business address, and principal occupation of the
directors and executive officers of RJC Partners, Inc. are as follows:
<TABLE>
<CAPTION>
------------------------------------- -------------------------------------- -----------------------------------------
Name Business Address Principal Occupation
------------------------------------- -------------------------------------- -----------------------------------------
<S> <C> <C>
Thomas A. James 880 Carillon Parkway Chairman of the Board and Chief
St. Petersburg, FL 33716 Executive Office of Raymond James
Financial, Inc.
------------------------------------- -------------------------------------- -----------------------------------------
Francis S. Godbold 880 Carillon Parkway President of Raymond James Financial,
St. Petersburg, FL 33716 Inc.
------------------------------------- -------------------------------------- -----------------------------------------
Gary A. Downing 880 Carillon Parkway Managing Director of Raymond James
St. Petersburg, FL 33716 Capital, Inc.
------------------------------------- -------------------------------------- -----------------------------------------
RJC Partners, Inc. is a wholly-owned subsidiary of Raymond James Financial,
Inc. The name, business address, and principal occupation of the directors and
executive officers of Raymond James Financial, Inc. are as follows:
<CAPTION>
------------------------------------- -------------------------------------- -----------------------------------------
DIRECTORS
------------------------------------- -------------------------------------- -----------------------------------------
Name Business Address Principal Occupation
------------------------------------- -------------------------------------- -----------------------------------------
<S> <C> <C>
Angela M. Brever c/o Raymond James Capital, Inc. Director, Corporate Business Development
880 Carillon Parkway Intel's New Business Group
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Jonathan A. Bulkley c/o Raymond James Capital, Inc. Managing Director
880 Carillon Parkway Barents Group LLC
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Elaine L. Chao c/o Raymond James Capital, Inc. Distinguished Fellow
880 Carillon Parkway The Heritage Foundation
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Thomas S. Franke c/o Raymond James Capital, Inc. President
880 Carillon Parkway Raymond James & Associates
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Francis S. Godbold c/o Raymond James Capital, Inc. President
880 Carillon Parkway Raymond James Financial
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
M. Anthony Greene c/o Raymond James Capital, Inc. Chairman
880 Carillon Parkway Raymond James Financial Services
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Harvard H. Hill, Jr. c/o Raymond James Capital, Inc. Managing General Partner
880 Carillon Parkway Houston Partners
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Huntington A. James c/o Raymond James Capital, Inc. Vice President
880 Carillon Parkway Corporate Client Services
St. Petersburg, FL 33716 Raymond James & Associates
------------------------------------- -------------------------------------- -----------------------------------------
Thomas A. James c/o Raymond James Capital, Inc. Chairman of the Board and Chief
880 Carillon Parkway Executive Officer
St. Petersburg, FL 33716 Raymond James Financial and
Raymond James & Associates
------------------------------------- -------------------------------------- -----------------------------------------
<PAGE>
Dr. Paul Marshall c/o Raymond James Capital, Inc. Professor of Management at
880 Carillon Parkway Harvard Graduate School of Business
St. Petersburg, FL 33716 Administration
------------------------------------- -------------------------------------- -----------------------------------------
J. Stephen Putnam c/o Raymond James Capital, Inc. President and Chief Operating Officer
880 Carillon Parkway Raymond James Services
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Robert F. Shuck c/o Raymond James Capital, Inc. Vice Chairman
880 Carillon Parkway Raymond James Financial
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Dennis W. Zank c/o Raymond James Capital, Inc. Executive Vice President,
880 Carillon Parkway Operations and Administration
St. Petersburg, FL 33716 Raymond James & Associates
------------------------------------- -------------------------------------- -----------------------------------------
<CAPTION>
OFFICERS
------------------------------------- -------------------------------------- -----------------------------------------
Name Business Address Principal Occupation
------------------------------------- -------------------------------------- -----------------------------------------
<S> <C> <C>
Thomas A. James c/o Raymond James Capital, Inc. Chairman of the Board and Chief
880 Carillon Parkway Executive Officer
St. Petersburg, FL 33716 Raymond James Financial and
Raymond James & Associates
------------------------------------- -------------------------------------- -----------------------------------------
Robert F. Shuck c/o Raymond James Capital, Inc. Vice Chairman
880 Carillon Parkway Raymond James Financial
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Francis S. Godbold c/o Raymond James Capital, Inc. President
880 Carillon Parkway Raymond James Financial
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
M. Anthony Greene c/o Raymond James Capital, Inc. Chairman
880 Carillon Parkway Raymond James Financial Services
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
J. Stephen Putnam c/o Raymond James Capital, Inc. President and Chief Operating Officer
880 Carillon Parkway Raymond James Services
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Richard K. Riess c/o Raymond James Capital, Inc. Executive Vice President
880 Carillon Parkway
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Jeffrey P. Julien c/o Raymond James Capital, Inc. Vice President, Finance and Chief
880 Carillon Parkway Financial Officer
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Mary Jean Kissner c/o Raymond James Capital, Inc. Vice President, Tax Manager
880 Carillon Parkway
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Lynn Pippenger c/o Raymond James Capital, Inc. Treasurer
880 Carillon Parkway
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Barry S. Augenbraun c/o Raymond James Capital, Inc. Senior Vice President
880 Carillon Parkway Corporate Secretary
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Jennifer C. Ackart c/o Raymond James Capital, Inc. Controller
880 Carillon Parkway
St. Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
Lawrence A. Silver c/o Raymond James Capital, Inc. Investor Relations
880 Carillon Parkway, St.
Petersburg, FL 33716
------------------------------------- -------------------------------------- -----------------------------------------
<PAGE>
The name, business address, and principal occupation of the directors and
executive officers of Renaissance III are as follows:
------------------------------------- -------------------------------------- -----------------------------------------
DIRECTORS
------------------------------------- -------------------------------------- -----------------------------------------
Name Business Address Principal Occupation
------------------------------------- -------------------------------------- -----------------------------------------
Edward O. Boshell, Jr. c/o Renaissance Capital Group, Inc. Director
8080 North Central Expressway
Suite 210, LB 59
Dallas, TX 75206-1857
------------------------------------- -------------------------------------- -----------------------------------------
Russell Cleveland c/o Renaissance Capital Group, Inc. Director
8080 North Central Expressway
Suite 210, LB 59
Dallas, TX 75206-1857
------------------------------------- -------------------------------------- -----------------------------------------
Peter Collins c/o Renaissance Capital Group, Inc. Director
8080 North Central Expressway
Suite 210, LB 59
Dallas, TX 75206-1857
------------------------------------- -------------------------------------- -----------------------------------------
Ernest C. Hill c/o Renaissance Capital Group, Inc. Director
8080 North Central Expressway
Suite 210, LB 59
Dallas, TX 75206-1857
------------------------------------- -------------------------------------- -----------------------------------------
OFFICERS
------------------------------------- -------------------------------------- -----------------------------------------
Russell Cleveland c/o Renaissance Capital Group, Inc. President and Chief Executive Officer
8080 North Central Expressway
Suite 210, LB 59
Dallas, TX 75206-1857
------------------------------------- -------------------------------------- ------------------------------------------
John A. Schmit c/o Renaissance Capital Group, Inc. Vice President
8080 North Central Expressway
Suite 210, LB 59
Dallas, TX 75206-1857
------------------------------------- -------------------------------------- ------------------------------------------
Robert C. Pearson c/o Renaissance Capital Group, Inc. Vice President
8080 North Central Expressway
Suite 210, LB 59
Dallas, TX 75206-1857
------------------------------------- -------------------------------------- ------------------------------------------
Barbara A. Butschek c/o Renaissance Capital Group, Inc. Secretary and Treasurer
8080 North Central Expressway
Suite 210, LB 59
Dallas, TX 75206-1857
------------------------------------- -------------------------------------- ------------------------------------------
The name, business address, and principal occupation of the directors and
executive officers of Renaissance PLC are as follows:
------------------------------------- -------------------------------------- ------------------------------------------
DIRECTORS
------------------------------------- -------------------------------------- ------------------------------------------
Name Business Address Principal Occupation
------------------------------------- -------------------------------------- ------------------------------------------
Michael B. Cannan c/o Sinclair Henderson Limited Director
23 Cathedral Yard
Exeter EX11HB
------------------------------------- -------------------------------------- ------------------------------------------
G. Russell Cleveland c/o Sinclair Henderson Limited Director
23 Cathedral Yard
Exeter EX11HB
------------------------------------- -------------------------------------- ------------------------------------------
Ernest J. Fenton c/o Sinclair Henderson Limited Director
23 Cathedral Yard
Exeter EX11HB
------------------------------------- -------------------------------------- ------------------------------------------
Lord Mark Fitzalan Howard OBE c/o Sinclair Henderson Limited Director
23 Cathedral Yard
Exeter EX11HB
------------------------------------- -------------------------------------- ------------------------------------------
C.A. Rundell, Jr. c/o Sinclair Henderson Limited Director
23 Cathedral Yard
Exeter EX11HB
------------------------------------- -------------------------------------- ------------------------------------------
William W. Vanderfeltp c/o Sinclair Henderson Limited Director
23 Cathedral Yard
Exeter EX11HB
------------------------------------- -------------------------------------- ------------------------------------------
</TABLE>
<PAGE>
EXHIBIT INDEX
Exhibit Number Description
-------------- -----------
Exhibit 1 Joint Filing Agreement Pursuant to Rule 13d-1(k)
Exhibit 2 Proposed Terms of Guarantee
