MILESTONES

Issue of Oct. 21-23.

FINANCIAL SERVICES
   Richard Maxwell of Lawrenceville, a senior manager with broad experience in international banking, lending, and political risk and trade credit insurance, has been named vice president and head of the Export-Import Bank of the United States Trade Finance and Insurance Division.
   Maxwell comes to Ex-Im Bank from GMAC Commercial Finance LLC, where he was senior vice president of the Risk Management, Commercial Services Division.
   Before joining GMAC Commercial Finance in 2002, Maxwell was senior vice president of commercial underwriting at Euler American Credit Indemnity. From 1983 to 1997, he held a variety of positions at American Express Bank LTD, ending as senior director/manager-North America, international trade finance. He began his career at the Foreign Credit Insurance Association.
   Ex-Im Bank is an independent federal government agency that helps finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance and direct loans. In fiscal year 2003, Ex-Im Bank authorized financing to support approximately $14.2 billion of U.S. exports worldwide.

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   Mark Pollard, financial adviser and senior vice president of investments in Merrill Lynch’s Plainsboro office, was recently named one of the country’s top financial advisers in the September 2003 issue of Registered Rep Magazine. Mr. Pollard has been with Merrill Lynch for 33 years, and oversees approximately $1.5 billion in assets. In response to the honor, Mr. Pollard said, "We’ve spent a lot of time helping people understand personal investment goals and what it takes to achieve them and maintain them. If they have money, they don’t have to become more wealthy; they just have to hang onto it."
   Mr. Pollard and his wife, Carol, reside in Princeton.

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   Druker, Rahl & Fein has announced that it will now be called Mercadien, P.C., Certified Public Accountants. The firm had formed The Mercadien Group three years ago to provide business owners and individuals the added resources and expertise required for growth and profitability. Due to the dramatic growth and recognition of the Mercadien brand, the decision to adopt the name will reduce any confusion that might exist in the marketplace.
   Mercadien Group was recently awarded the Practice Innovation Award from the national magazine Practical Accountant. One of 11 firms selected nationwide, Mercadien was selected for the successful development, design, and implementation of the Nonprofit Management Program, held in conjunction with The College of New Jersey. The 10-week program is designed to provide executives of nonprofit organizations with the skills and techniques that they need to achieve the goal of managing their organizations more effectively.

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   FleetBoston Financial reported Wednesday third quarter net income of $675 million, or $.64 per share, compared with net income of $579 million, or $.55 per share, in the third quarter of last year. For the first nine months of 2003, net income was $1.9 billion, or $1.76 per share, compared with $928 million, or $.87 per share, for the first nine months of 2002.
   The growth in earnings was led by a number of factors including higher revenues, significantly improved credit quality, improved performance in several business lines and expense control, according to a company statement.
   The quarter was also marked by ongoing progress in gaining added customer business and continued sequential earnings growth in each of the corporation’s domestic personal and commercial business segments, according to the statement.
   Risk reduction efforts have resulted in the fifth consecutive quarterly decline in non-performing assets. These problem assets declined by an additional 10%, or $263 million, in the third quarter to $2.3 billion and are down by 38% in the past year.

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   Leonard Smith of WithumSmith+Brown in Princeton is marking his 25th anniversary as voluntary treasurer of the Princeton Regional Chamber of Commerce. A CPA, Mr. Smith has been actively involved with the Princeton Chamber since 1976, the same year that WithumSmith+Brown opened the doors to its Princeton office.
   Mr. Smith has also served as the president of the board of directors at the Princeton Regional Chamber of Commerce, and is currently a member of the Princeton Family YMCA board of trustees and treasurer of the Princeton YMCA-YWCA board of trustees.
   WithumSmith+Brown is a nationally recognized public accounting and consulting firm, with six offices across New Jersey.
HEALTH & MEDICINE
   Bristol-Myers Squibb was named one of the "10 Best Companies for Working Mothers" by Working Mother magazine for the third consecutive year.
   Sandra Holleran, vice president of human resources at BMS said, "Offering high-quality, innovative programs for working mothers — and fathers — has become our standard operating procedure. We recognize that offering our employees options to achieve the appropriate work/life balance is as important to our business as it is to our employees."
   Among the work/life programs offered to Bristol-Myers Squibb employees are on-site child-care centers, including summer care for school-age children; back-up care services for dependent children and adults; a free supply of infant formula for a baby’s first year; free electronic pagers for up to any six-month period surrounding pregnancy and birth; programs designed to help employees with issues that affect their daily lives including emotional well-being, education and elder-care management; flexible work arrangements, adoption/foster care leave; paternity leave; and adoption financial assistance.

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   HealthAtoZ of Monmouth Junction recently announced that it has launched its new ASP Health Portal service for employers, managed care and other organizations looking to reduce health-care costs and productivity lost to illness through cost-effective and personalized online programs.
   The new portal provides full access to HealthAtoZ’s LifestyleModification and Disease Management Programs, an online Personal Health Record (PHR) and comprehensive health information, all personalized to the user based on their results from an online Health Risk Appraisal (HRA) and proprietary condition-specific profilers.
   Personalized to each user’s health needs and risks, the portal’s Lifestyle Modification programs provide action steps, meal and exercise plans and more to help users change their habits. Specially designed programs for diabetes, heart disease, obesity and asthma provide support for these conditions while a pregnancy management program helps expectant families plan for and have a healthy pregnancy.
   The integrated PHR lets users keep their family medical records online and accessible for emergencies around the clock while online health information provides the latest health news, exclusive articles, drug information and a medical encyclopedia to answer user’s questions about health.
   "Our new ASP Health Portal service to help users make healthy lifestyle changes and take on more responsibility for their own health, while providing a cost-effective solution for organizations looking to reduce the cost of health care," said Raj Lakhanpal, M.D., president and CEO of HealthAtoZ.
   Founded in 1995, HealthAtoZ pioneered Internet personalization of healthcare, online disease and condition management programs and intuitive, interactive e-health tools.
OUTSOURCE
   Billtrust of Princeton Junction announced that 1-800-DryClean has selected its CompleteBilling suite as its preferred outsourced billing solution. Instead of printing invoices and statements in-house, 1-800-DryClean franchisees can electronically transmit invoices and statements to Billtrust for preparation and distribution via the United States Postal Service. Billtrust guarantees a one-business-day turnaround, and offers the most extensive range of outsourced billing services available for small and medium-volume businesses, according to a company statement.

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   Princeton-based AnswerNet Network, the world’s largest telemessaging center (telephone answering service) and a leading provider of outsourced contact center and fulfillment services, has been ranked 21 on Inc. magazine’s 23rd annual "Inc. 500 List of America’s Fastest Growing Private Companies." AnswerNet achieved the highest ranking of any contact center or teleservices company on this year’s list as a result of its five year sales growth. It also ranked 10th largest employer on the list.
TECHNOLOGY
   Universal Display Corporation, a leading developer of organic light-emitting diode (OLED) technologies for flat-panel displays, lighting and other opto-electronic applications, today announced that it ranked Number 441 on the 2003 Deloitte "Technology Fast 500," a ranking of the 500 fastest growing technology companies in North America.
   Rankings are based on average percentage revenue growth during five years, from 1998 to 2002. Universal Display grew 563 percent during this period, according to a company statement.
   Universal Display’s President and Chief Operating Officer Steven V. Abramson credits the company’s 563-percent revenue growth during the past five years to a strong foundation of technological achievements and advances toward commercialization.
   The Fast 500 list is compiled from Deloitte’s 20 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 1998 operating revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively; and 2002 operating revenues must be at least $1 million USD or CD.

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   Voxware of Lawrenceville has teamed with Intek Integration of Washington state to maximize Petco Animal Supplies’ warehouse performance. Voxware’s VoiceLogistics technology integrated with Intek’s management and control system will provide a hands-free/eyes-free means for workers to pick products for shipment and direct warehouse operations.
   "Intek’s ability to connect with other logistics systems allowed us to complete the integration work in record time," noted Bathsheba J. Maisheen, CEO of Voxware. "We are very pleased to partner with a company that has such a passion for customer service and providing advanced technology solutions for the warehouse."
COMMERCIAL REAL ESTATE
   Federal Realty Investment Trust, based in Maryland, announced the acquisition of the 410,000-square-foot Mercer Mall in Lawrence.
   Federal Realty entered into a 25-year master lease with private owner Mercer Mall Property Group for the 390,000-square-foot primary portion of the mall.
   Federal will pay a fee to the owner in return for the property rights, with the option to buy the property in 20 years at a fixed price of $55 million.
   Federal is also negotiating a contract to purchase the remaining portion of the Mercer Mall, a contiguous 40,000-square-foot parcel, and anticipates closing that deal late this year.
   Originally built in 1975, the Mercer Mall is located on the west side of Route 1 at Province Line Road. The property is currently 80 percent occupied, the most significant vacancy being the 85,000-square-foot former Kmart store, of which 75,000 square feet has been leased to Foodarama to operate a ShopRite supermarket.
   Federal plans to add gross leasable area to the property and lease that additional area, together with the remaining Kmart space, to another national big box retailer.

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   NAI Fennelly, a full-service real estate marketing company based in Hamilton, reports a steady momentum of business activity through the third quarter of 2003.
   NAI Fennelly recently marketed and sold a 12,000-square-foot warehouse building located at 990 Spruce Street in Ewing for Fedders Corporation. A 36,000-square-foot office building at 300 Alexander Park in West Windsor was sold for CIP Three, L.L.C. for $6,200,000.
   NAI Fennelly represented several clients in the execution of the following transactions:
   Lenox Merchandising renewed their lease at 51 Commerce Drive in South Brunswick for 125,000 square feet; a 6,000 square foot lease was signed by ICG at 100 Canal Pointe Boulevard in West Windsor; Oppenheimer relocated to a 3,000-square-foot office at 302 Carnegie Center in West Windsor; Caliper subleased a 15,600-square-foot office building at 741 Mount Lucas Road in Princeton to University Medical Center at Princeton; a 10,000-square-foot lease was signed by an undisclosed tenant at 989 Princeton Pike in Lawrenceville; and a 10,000-square-foot office lease was executed by New Jersey Educational Facilities Authority at 103 College Road East in Plainsboro.
   NAI Fennelly is a full-service, global real estate service provider with over 270 offices covering 340 markets in the United States and abroad.

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   Segal Commercial Real Estate of Lawrenceville celebrates its 35th anniversary this fall. In three-and-a-half decades, the company has grown from a sole proprietorship to a full-service firm. Segal Commercial Real Estate provides brokerage, appraisal and consulting services for office, industrial, commercial and investment real estate.
   In total, more than 1,000 commercial and industrial properties throughout New Jersey and Bucks County, Pennsylvania, have changed hands under the guidance of Segal Commercial Real Estate, according to a company statement.
   Stephen M. Segal, president and founder of the firm, said, "In an industry that is known to be primarily transaction based, our goal has always included providing clients with added value through sound real estate advice.
   "Our ’boutique’ style of hands-on personal involvement wasn’t typical of the industry when we began in 1968, but it has become very important to clients today," he said.
   He credits his company’s success to the increasing demand for ever-advancing professionalism within the industry, as well as client relationships that have withstood the test of time.
BUSINESS ADVOCATES
   Cheryl Mills of Princeton was recently appointed associate deputy administrator for the Office of Entrepreneurial Development in the U.S. Small Business Administration’s Washington, D.C. office.
   Ms. Mills will manage the SBA’s business development programs, providing education, training, counseling and technical assistance to more than one million clients each year nationwide.
   These programs include the Offices of Women’s Business Ownership, Small Business Development Centers, Business and Community Initiatives, Native American Affairs, E-Small Business, the Service Corps of Retired Executives and the Business Information Centers.
   Before joining the SBA, Ms. Mills was the president of Bradford Investment Group, Inc. in Princeton. Ms. Mills served as trustee and executive vice president of the Mills Foundation and was an investment banker at Wertheim Schroder & Co. Inc. She also worked as assistant press secretary to former Congressman Al Quie of Minnesota.
   Ms. Mills serves as a trustee of the $66 billion New Jersey Pension Fund. Ms. Mills’ leadership honors include an award from former Gov. Christine Todd Whitman for founding a highly successful nonprofit organization, Friends of Homeless Animals.
   She is a former trustee of the national women’s organization Leadership America, and is a past fellow of Leadership New Jersey.
   Ms. Mills lives with her husband, Bradford, in Princeton.