Mr. Olofson has over 30 years of executive level financial experience in merchandising and telecommunications. He has served as Vice President Finance for Carter Hawley Hale Stores, with annual sales volumes of $3 billion. He managed a staff of 125 people responsible for the Company's treasury, internal auditing, corporate accounting, financial reporting, federal and state income taxes, insurance and financial planning functions. He had extensive involvement in the Company operations through management of an internal audit staff consisting of 75 professional auditors serving 12 operating divisions. He also managed treasury activities including banking relations, public and private debt and equity offerings, sales and leasebacks of property and establishment of a commercial paper program.

As Chief Operating Officer and Chief Financial Officer for Fedco, Inc., Mr. Olofson reported to the Chairman of the Board and was directly or indirectly responsible for the day-to day management of the Company, including merchandising, information technology, distribution, human resources, real estate, finance and accounting. He developed an extensive turnaround strategy to reverse Fedco's declining business. His strategy focused on merchandising and marketing efforts, efficient distribution of merchandise, reduction of personnel, budgeting of capital and operating expenses. His strategy resulted in reduction in the company's workforce from 7,000 to 5,000 people while continuing to maintain a high level of customer service. Mr. Olofson led the development of information technology strategy resulting in implementation of an integrated merchandising system, an IBM warehouse/distribution system to track the flow of merchandise through the central distribution center and a point-of-sale scanning system allowing register checkers to scan all merchandise sold.

Prior to working with The Scotland Group, Inc.^®, Mr. Olofson served as Vice President Finance for an international telecommunications company with revenues in excess of $5 billion and more than 17,000 employees. He successfully managed the accounting department responsible for processing all accounting data and financial reporting to the SEC. He led the development of the budget process and was responsible for analysis of accounting issues relating to merger and acquisition candidates.

Mr. Olofson received his B.S. in Business Administration from University of California Los Angeles and attended the Advanced Management Program at Harvard Graduate School of Business.

He served on the Board of Directors of California State University Foundation, Los Angeles and Institute of Retail Management, California State University, Los Angeles. Mr. Olofson is a Certified Public Accountant.