Business

Item Description

(Michael Feuer is donating one hour of his time to the winning bidder)

Michael Feuer, Co-Founder and Chairman and CEO Emeritus of OfficeMax, left the office products retailer after its December 9, 2003, $1.5 billion sale to Boise Cascade Corporation. Mr. Feuer immediately formed his new firm, Max-Ventures LLC, a venture capital/operational organization focusing on specialty retailing, with offices in the Cleveland suburb of Mayfield Heights. Max-Ventures works with emerging growth companies and new retail concepts as well as mid-sized retailers and businesses providing services to retailers. Max-Ventures invests in companies that may require an infusion of new capital, but more importantly, strategic and operational expertise to take a business to its next growth stage.

OfficeMax, a start-up led by Mr. Feuer, opened its first store in suburban Cleveland in the summer of 1988 with $20,000 of Mr. Feuer's own money, combined with investments by a small group of other investors. During the ensuing 15 years, OfficeMax grew to an international retail powerhouse with revenues of approximately $5 billion, almost 1,000 locations, a major internet/catalog business unit and direct sales force presence throughout the United States, the Caribbean and Mexico. As a part of the agreement with the sale to Boise, Mr. Feuer has a five year continuing consulting agreement with OfficeMax.

Prior to founding OfficeMax, Mr. Feuer spent 15 years at JoAnn Fabrics, a publicly held, New York Stock Exchange company with over 1,000 stores throughout the country. Mr. Feuer held several senior management positions at JoAnn and was involved in building this fabric retailer into a national chain. Mr. Feuer served as Senior Vice President of JoAnn Fabrics and was a member of its Executive Management Committee.

Mr. Feuer has received numerous awards for his business achievements during his career, including, while at OfficeMax, being named Discount Store News Specialty Discounter of the Year, and for leading OfficeMax to become one of only four companies in the United States to ever reach $3 billion in sales in less than nine years. He has authored numerous articles and has been a frequent guest lecturer at leading universities and organizations throughout the United States, Europe and Asia.

Mr. Feuer is a member of a number of community philanthropic and business related committees and boards, including Case Western Reserve University's Weatherhead School of Management and is serving his second term on the New York Stock Exchange Board of Directors' Listed Company Advisory Committee. He is also a member of the Board of Directors of the United Way of Cleveland, the Board of Trustees of Cuyahoga Community College Foundation, The Menorah Park Foundation, supporting senior living, and University Hospitals of Cleveland. Mr. Feuer also was recently elected to the Board of Directors of a retail chain which will file an S-1 Registration Statement for an IPO within the next 30 days and he will service on this Company's Audit Committee.

Item Special Note

(Michael Feuer is donating one hour of his time to the winning bidder)

We accept Mastercard and Visa(not American Express) payments and cash payments. All money is due by Friday, July 16.

The executives will meet with the winning bidders at a time convenient to both parties, on or before December 1, 2004.