

| M & A Activities |
| The Agency Search-for-Merger-Partner Process |


| Chairman and Founder |
| Stuart Sanders |

| Step 1 Strategy Phase What, when and how |
| Step 3 Sort Phase Who fits the best |
| Step 2 Search Phase Who's out there |
| Step 4 Select Phase Who's the one we want |
| Step 5 Set Phase How do I do the deal |
| Step 6 Secure Phase Do the deal |
| Step7 Signal Phase Announce the done deal |
| The Agency Acquisition Process |