Mr. Obernauer is chairman of the Beverage Distributors Company. He was formerly vice
chairman and director of Applied Graphics Technologies, Inc., and chairman and CEO of
Devon Group, Inc. before the company merged with Applied Graphics. He spent nearly a
decade as an investment officer with Donaldson, Lufkin and Jenrette and with First National
City Bank (now Citibank). He is a founding member and director of the American
Business Conference and a trustee of the Trinity School in New York City.