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Board Meetings and Attendance

The Board of Directors had 12 meetings during 2003. No director attended less than 75% of the total of the Board meetings and the meetings of the committees upon which he or she served. The average overall attendance percentage for meetings of the Board of Directors in 2003 was 94.6% and for meetings of Board committees was 94.1%. The presiding director for each meeting of the nonmanagement directors is chosen on an ad hoc basis by the directors present at each such meeting. Directors are encouraged to attend the annual meeting of shareholders. All directors except one attended the 2003 annual meeting of shareholders.