UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
PERINI CORPORATION
(Name of Issuer)
Common Stock and
Series B Cumulative Convertible Preferred Stock
(Title of Class of Securities)
713-839108
(CUSIP Number)
Murray A. Indick
Richard C. Blum & Associates, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 9, 1997
(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 which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are
to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 12
CUSIP NO. 713-839108 SCHEDULE 13D Page 2 of 12
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON PB CAPITAL PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3248865
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]**
(b) [x]**
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
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 Delaware
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 93,837.85
BENEFICIALLY (of Series B Shares)**
OWNED BY EACH 1,985,627
PERSON WITH (of common stock, after conversion)**
-----------------------------------------------------------
9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 93,837.85
(of Series B Shares)**
1,985,627
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 93,837.85
(of Series B Shares)**
1,985,627
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 61.51%
(of Series B Shares)**
27.99%
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See Item 5 below.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 713-839108 SCHEDULE 13D Page 3 of 12
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]**
(b) [x]**
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* Not Applicable
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 117,513.24
BENEFICIALLY (of Series B Shares)**
OWNED BY EACH 2,474,677
PERSON WITH (of common stock, after conversion)**
-----------------------------------------------------------
9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 117,513.24
(of Series B Shares)**
2,474,677
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 117,513.24
(of Series B Shares)**
2,474,677
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 77.01%
(of Series B Shares)**
32.63%
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- ------------------------------------------------------------------------------
** See Item 5 below.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 713-839108 SCHEDULE 13D Page 4 of 12
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]**
(b) [x]**
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* Not Applicable
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 117,513.24
BENEFICIALLY (of Series B Shares)**
OWNED BY EACH 2,474,677
PERSON WITH (of common stock, after conversion)**
-----------------------------------------------------------
9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 117,513.24
(of Series B Shares)**
2,474,677
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 117,513.24
(of Series B Shares)**
2,474,677
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 77.01%
(of Series B Shares)**
32.63%
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 713-839108 SCHEDULE 13D Page 5 of 12
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ###-##-####
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]**
(b) [x]**
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* Not Applicable
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION USA
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 117,513.24
BENEFICIALLY (of Series B Shares)**
OWNED BY EACH 2,474,677
PERSON WITH (of common stock, after conversion)**
-----------------------------------------------------------
9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 117,513.24
(of Series B Shares)**
2,474,677
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 117,513.24
(of Series B Shares)**
2,474,677
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 77.01%
(of Series B Shares)**
32.63%
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 713-839108 SCHEDULE 13D Page 6 of 12
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON THE COMMON FUND FOR NON-PROFIT ORGANIZATIONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 23-7037968
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]**
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
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 USA
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 23,675.39
BENEFICIALLY (of Series B Shares)**
OWNED BY EACH 489,050
PERSON WITH (of common stock, after conversion)**
-----------------------------------------------------------
9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 23,675.39
(of Series B Shares)**
489,050
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 23,675.39
(of Series B Shares)**
489,050
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.52%
(of Series B Shares)**
8.66%
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 713-839108 SCHEDULE 13D Page 7 of 12
Item 1. Security and Issuer
- ----------------------------
This Schedule 13D Amendment No. 2 relates to the Series B Cumulative
Convertible Preferred Stock (the "Series B Shares") of the Perini Corporation
(the "Issuer") and the common stock of the Issuer into which such stock is
convertible. This Amendment is being filed because the Reporting Persons
received certain additional Series B Shares as dividends on the Series B
Shares originally acquired from the Issuer.
Item 2. Identity and Background
- --------------------------------
This Schedule 13D Amendment No. 2 is filed by and on behalf of PB Capital
Partners, L.P. ("PB Capital"), Richard C. Blum & Associates, L.P., a
California limited partnership ("RCBA L.P."); Richard C. Blum & Associates,
Inc., a California corporation ("RCBA Inc."); Richard C. Blum, the Chairman
and a substantial shareholder of RCBA Inc.; and The Common Fund for Non-Profit
Organizations ("The Common Fund" and, collectively with the other persons
named in this paragraph, the "Reporting Persons").
Item 2 from Schedule 13D Amendment No. 1 is supplemented with the following
additional information:
The Common Fund is a New York non-profit corporation. The Common Fund is
principally engaged in the business of managing investments for educational
institutions. The principal administrative office of The Common Fund is
located at 450 Post Road East, Westport, Connecticut 06881-0909. RCBA L.P. is
an investment advisor for The Common Fund and has discretion to vote and
dispose of the Series B Shares held by it for the benefit of The Common Fund.
The Trustees and Principal Officers of The Common Fund (including principal
occupations and addresses) are as follows:
Trustees
- --------
Paul J. Aslanian Robert D. Flanigan, Jr.
Vice President for Finance & Planning Vice President for Business and
Swarthmore College Financial Affairs & Treasurer
500 College Avenue Spelman College
Swarthmore, PA 19081-1397 350 Spelman Lane, S.W., Box 589
Atlanta, GA 30314-4399
Robert L. Bovinette
President Caspa L. Harris, Jr.
The Common Fund Consultant and Attorney
450 Post Road East 39109 John Wolford Road
Westport, CT 06881 Waterford, VA 20197
John B. Carroll Norman G. Herbert
President Associate Vice President
GTE Investment Management Corp. & Treasurer
Tresser Boulevard University of Michigan
Seventh Floor 5032 Fleming Administration Bldg.
Stamford, CT 06901 Ann Arbor, MI 48109-1340
CUSIP NO. 713-839108 SCHEDULE 13D Page 8 of 12
Mayree C. Clark Louis W. Moelchert
Managing Director, Global Research Vice President for Business
Morgan Stanley & Co., Inc. and Finance
1251 Avenue of the Americas University of Richmond
New York, NY 10020 Campus Drive, Room 202
Maryland Hall
William C. Hromadka Richmond, VA 23173
Treasurer and Assoc Sr Vice President
University of Southern California Robert D. Pavey
University Park, Treasurer's Office General Partner
BKS 402 - Bookstore Building Morgenthaler Ventures
Los Angeles, CA 90089-2541 629 Euclid Avenue, Suite 700
Cleveland, OH 44114
David M. Lascell Andre F. Perold
Partner Sylvan C. Coleman Professor
Hallenbeck, Lascell, Norris & Zorn of Financial Management
One Exchange Street Harvard University Graduate School
Rochester, NY 14614-1403 of Business
Morgan Hall, 367, Soldiers Field
John T. Leatham Boston, MA 02163
Chairman and Chief Executive Officer
Security Health Providers, Inc. Robert S. Salomon, Jr.
Drake Oak Brook Plaza Principal
2215 York Road, Suite 206 STI Management LLC
Oak Brook, IL 60521 36 Flying Cloud Road
Stamford, CT 06902
David J. Meagher
Vice President for Finance & Treasurer William T. Spitz
Loyola University of Chicago Treasurer
840 North Wabash Vanderbilt University
Chicago, IL 60611 102 Alumni Hall
Nashville, TN 37240-0159
Principal Officers Who Are Not Trustees
- ---------------------------------------
Todd E. Petzel Curt R. Tobey
Executive Vice President Senior Vice President
and Chief Investment Officer
William P. Miller III
John S. Griswold, Jr. Senior Vice President and
Senior Vice President Independent Risk Oversight Officer
Maria L.C. Tapia Marita Wein
Senior Vice President Vice President and Secretary
The address of each of the above principal officers of The Common Fund who are
not Trustees is: The Common Fund, 450 Post Road East, Westport, CT 06881-
0909. Each of the Trustees and principal officers listed above is a citizen
of the United States. Although The Common Fund might be deemed to be part of
a group by virtue of its acquisition of the Series B Shares, The Common Fund
CUSIP NO. 713-839108 SCHEDULE 13D Page 9 of 12
disclaims acting as a group and disclaims "beneficial ownership" in the shares
of each other person.
Item 3. Source and Amount of Funds or Other Consideration
- ----------------------------------------------------------
No change.
Item 4. Purpose of Transaction
- ----------------------------------
No change. On April 9, 1997, the Issuer issued 1,487.85 additional Series B
Shares to PB Capital as payment-in-kind dividends payable on PB Capital's pre-
existing Series B Shares, and 375.39 additional Series B Shares to The Common
Fund as payment-in-kind dividends payable on The Common Fund's pre-existing
Series B Shares.
Item 5. Interest in Securities of the Issuer
- ------------------------------------------------
(a),(b) According to the Issuer's most recent 10Q, there were no shares of
Series B Shares and 5,155,811 of Common Stock issued and outstanding as of
May 10, 1997.
Based on the above information, after taking into account the transactions
described in Item 5(c) below, the following Reporting Persons will report the
following holdings and corresponding percentage interests in the Series B
Shares and Common Shares (assuming the conversion of each Reporting Person's
Series B Shares into Common Shares):
Total Common Shares
Series B Shares (after conversion)
--------------------- ---------------------
Name No. Owned % Owned No. Owned % Owned
- ----------------- --------- ------- --------- -------
PB Capital 93,837.85 61.51% 1,985,627(1) 27.99%
The Common Fund 23,675.39 15.52% 489,050 8.66%
RCBA L.P. 117,513.24 77.01% 2,474,677(2) 32.63%
RCBA Inc. 117,513.24 77.01% 2,474,677(3) 32.63%
Richard C. Blum 117,513.24 77.01% 2,474,677(4) 32.63%
(1) Includes 4,727 shares of common stock of Issuer owned by RCBA L.P., and
42,540 shares of common stock of Perini Corporation owned by the United
Brotherhood of Carpenters and Joiners of America Local Unions Councils Pension
Fund ("UBC"), which is a limited partner in PB Capital.
(2) Includes shares of common stock of Issuer as follows: 1,980,900 shares
owned by PB Capital and one of its limited partners, UBC; and, 489,050 shares
owned by The Common Fund. RCBA L.P. is the general Partner of PB Capital and
investment advisor to The Common Fund. RCBA L.P. disclaims beneficial
ownership of such shares except to the extent of its pecuniary interest
therein.
(3) Includes shares of common stock of Issuer as follows: 1,980,900 shares
owned by PB Capital and one of its limited partners, UBC; 489,050 shares owned
CUSIP NO. 713-839108 SCHEDULE 13D Page 10 of 12
by The Common Fund; and 4,747 shares owned by RCBA L.P. RCBA Inc. is the
general Partner of RCBA L.P., which is the general partner of PB Capital and
investment advisor to The Common Fund. RCBA Inc. disclaims beneficial
ownership of such shares except to the extent of its pecuniary interest
therein.
(4) Includes shares of common stock of Issuer as follows: 1,980,900 shares
owned by PB Capital and one of its limited partners, UBC; 489,050 shares owned
by The Common Fund; and 4,747 shares owned by RCBA L.P. Richard C. Blum is a
significant stockholder and chairman of RCBA Inc., the general partner of RCBA
L.P., which is the general partner of PB Capital and investment advisor to The
Common Fund. Mr. Blum disclaims beneficial ownership of such shares except to
the extent of his pecuniary interest therein.
(c) The Reporting Persons have engaged in no transaction involving such
shares or the Common Stock for the 60 days prior to the date of the event
requiring the filing of this statement.
(d), (e) No change.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
- ----------------------------------------------------------------------
Except as previously disclosed, none of the Reporting Persons or, to the best
knowledge of the Reporting Persons, the other persons named in Item 2, is a
party to any contract, arrangement, understanding or relationship with respect
to any securities of the Issuer, including but not limited to the transfer or
voting of any securities of the Issuer, finder's fees, joint ventures, loan or
option arrangements, puts or calls, guarantees of profits, division of profits
or loss, or the giving or withholding of proxies, except (i) as previously
disclosed, or (ii) as noted above, RCBA L.P. has the power to vote and dispose
of the Series B Shares held by it for the benefit of the Common Fund.
Item 7. Material to Be Filed as Exhibits
- --------------------------------------------
Exhibit A Joint Filing Undertaking
CUSIP NO. 713-839108 SCHEDULE 13D Page 11 of 12
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
May 29, 1997
RICHARD C. BLUM & ASSOCIATES, L.P. RICHARD C. BLUM & ASSOCIATES, INC.
By /s/ Marc T. Scholvinck By /s/ Marc T. Scholvinck
------------------------------- -----------------------------------
Marc T. Scholvinck Marc T. Scholvinck
Managing Director and Managing Director and
Chief Financial Officer Chief Financial Officer
PB CAPITAL PARTNERS, L.P. /s/ Marc T. Scholvinck
--------------------------------------
By Richard C. Blum & Associates, RICHARD C. BLUM
L.P., its General Partner
By Marc T. Scholvinck,
By /s/ Marc T. Scholvinck Attorney-in-Fact
--------------------------
Marc T. Scholvinck,
Managing Director and
Chief Financial Officer
THE COMMON FUND FOR NON-PROFIT ORGANIZATIONS
By Richard C. Blum & Associates, L.P.,
its Investment Advisor
By /s/ Marc T. Scholvinck
-------------------------------
Marc T. Scholvinck,
Managing Director and
Chief Financial Officer
CUSIP NO. 713-839108 SCHEDULE 13D Page 12 of 12
Exhibit A
Joint Filing Undertaking
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to the Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: May 29, 1997
RICHARD C. BLUM & ASSOCIATES, L.P. RICHARD C. BLUM & ASSOCIATES, INC.
By /s/ Marc T. Scholvinck By /s/ Marc T. Scholvinck
------------------------------- -----------------------------------
Marc T. Scholvinck Marc T. Scholvinck
Managing Director and Managing Director and
Chief Financial Officer Chief Financial Officer
PB CAPITAL PARTNERS, L.P. /s/ Marc T. Scholvinck
--------------------------------------
By Richard C. Blum & Associates, RICHARD C. BLUM
L.P., its General Partner
By Marc T. Scholvinck,
By /s/ Marc T. Scholvinck Attorney-in-Fact
--------------------------
Marc T. Scholvinck,
Managing Director and
Chief Financial Officer
THE COMMON FUND FOR NON-PROFIT ORGANIZATIONS
By Richard C. Blum & Associates, L.P.,
its Investment Advisor
By /s/ Marc T. Scholvinck
-------------------------------
Marc T. Scholvinck,
Managing Director and
Chief Financial Officer
