Principals of the Gwent Group

STEPHEN J. MARTIN
President & CEO, THE GWENT GROUP
A graduate of Indiana University with extensive graduate work in business, law and real
estate. Currently a Director of the Center for Real Estate Education and Research, past
Executive Vice President of the Certified Auctioneers Institute, formerly a member of the
faculty of the School of Continuing Studies at Indiana University, principal in S.J. Martin
and Associates, management consultants, author and editor of numerous publications;
education consultant to several trade and professional associations, selected for listing
in the 1981 publication, "Outstanding Young Men In America", and "Who's Who in Real
Estate", as well as "Who's Who In The Midwest", has served in presidential capacities for
his Rotary Club, the International Real Estate Education Association and the Business
Division of the National University Extension Association; currently is a member of the
Indiana Real Estate Advisory Council, Indiana University Alumni Association, and
Rotary International. He has participated as a consultant to business and industry in both the United States and Great Britain. He holds several professional designations
and has 20 years of professional consulting experience. He has also served as a
member of over ten corporate boards.

THOMAS E. BATTLE, III
Executive Vice President-Finance Director, THE GWENT GROUP
Received B.S. and M.S. degrees from Indiana University and currently has completed his
doctoral course work in business and finance. Current Executive Vice President of the
Center for Real Estate Education and Research, Vice President for Education of the
Certified Auctioneers Institute, Associate Management Consultant of S.J. Martin and
Associates; past consultant of state and federal agencies for real estate and auction,
author of several professional publications; current education consultant for Educational
Testing Service as a specialist in test construction and analysis; current member of the
Indiana and National Real Estate Educators Association, Indiana Real Estate Advisory
Council and Indiana University Alumni Association. He has 18 years of professional
consulting experience with specialization in financial analysis and asset management.

TEAM MEMBERS
THE GWENT GROUP accomplishes many of its projects through the assistance of
selected university faculty and other consultants which it has on retainer in addition to its staff of nine.