Stephen E. Levenson

STEPHEN E. LEVENSON joined Advest, Inc. as a Director in the equity
research department in May 2003. He covers small cap stocks, primarily
in the areas of Aerospace Defense and Homeland Security. Prior to
joining Advest, Mr. Levenson was a Senior Vice President at Gerard
Klauer Mattison for three years. In 2002, he received an honorable
mention in the Institutional Investor All-American Research poll for
coverage of Aerospace and Defense Companies. Before joining Gearard
Klauer Mattison, Mr. Levenson spent 20 years on the buy side, including
involvement in leveraged buyouts and investments in distressed
securities. He earned a BS degree in Finance from the University of
Vermont with additional concentration in Mechanical Engineering.