PRESS RELEASE

For additional information contact:
Maria D. Winslow
Marketing Co-ordinator
mwinslow@untracht.com
www.untracht.com

David S. Untracht Appointed to NYSSCPA Taxation of Financial Institution and Products Committee

Florham Park, NJ -- January 15, 2004

David S. Untracht, CPA, was recently appointed to the New York State Society of Certified Public Accountant's Taxation of Financial Institutions and Products Committee.

Mr. Untracht, Senior Principal and co-founder of Untracht Early & Associates, has over 23 years of public accounting experience. As leader of the Firm's Tax Department, he provides sophisticated and proactive tax planning and analysis to clients. Mr. Untracht is licensed as a CPA in New Jersey and New York. He is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. As an active member of the New Jersey Society of Certified Public Accountants, Mr. Untracht is a chapter past-president and former member of its Chapter Operations and Federal Taxation Committees. Mr. Untracht received a Bachelors degree from Rutgers University and holds both a Master of Business Administration and a Master of Science from Seton Hall University.

The New York State Society of CPA's Taxation of Financial Institutions and Products Committee reviews and discusses the tax implications of new and existing financial products that would include debt, equity, and derivative securities. They also examine developments as they affect taxation of financial products such as legislative, regulatory and administrative developments and judicial cases. Committee members are available to address technical questions for the Society and serve as a liaison with government agencies. In addition, the Committee monitors legislation related to financial products.

Untracht Early & Associates is a growing CPA firm offering a full range of accounting and auditing services together with tax and general business consulting services. The firm specializes in serving financial services industry clients, closely held, entrepreneurial, and family owned businesses, technology, professional services practices and retail. Founded in 1993, Untracht Early & Associates is built on solid professional skills and strong working relationships with clients.