EUROPEAN SMALL CAP CONFERENCES

• 2nd Annual European Small Cap Conference - New York, November 21, 2002 - The Forum was a tremendous success and was attended by over 200 senior executives from the New York investment community to view presentations and meet with the management of Arcadis NV, Aveva Group plc, Brit Insurance Holdings plc, Credit Lyonnais Securities, Euronext, Hannover Re, Medigene AG, SNS Securities, The New Germany Fund Inc., Vedior NV, and Wavecom SA.

• 1st Annual European Small Cap Conference - New York, November 16, 2001 - 1st Annual European Small Cap Conference. Speakers included top members of European business and securities firms. Companies and securities firms from five European countries, Ireland, Belgium, France, Germany and Greece, presented at the conference. The luncheon keynote speaker was Kevin E. Pilarski, the Regional Director from STOXX. Mr. Pilarski presented on Europe's equity culture and prospects for the future