Life Partners Names New Board Member.- Company Now Complies With NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Listing Requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. - WACO, Texas -- Life Partners Holdings, Inc. (Nasdaq:LPHI LPHI Louisiana Public Health Institute LPHI Life Partners Holdings, Inc. LPHI Life Partners Holdings, Inc. (stock symbol) LPHI Laguna Properties Holdings, Inc. ) announced today that the board of directors has unanimously voted to appoint Dr. Harold E. Rafuse as an independent director and member of the audit and compensation committees as of November 1, 2006. Dr. Rafuse was appointed to fill the unexpired term of LPHI director Lt. General Harry Goodall after his untimely death in September. The appointment of Dr. Rafuse as an independent director restores the Company to full compliance with Nasdaq listing qualifications regarding the number of Audit Committee members. LPHI Chairman Brian Pardo stated, "Harold Rafuse is highly qualified, both by education and business experience, to serve as an independent director and audit committee member. We believe he will be a tremendous asset to our board and we are very pleased to be able to work with him." Life Partners is the world's oldest and one of the most active companies in the United States engaged in the secondary market for life insurance, commonly called life settlements. Since its incorporation in 1991, Life Partners has generated a total business volume of almost $640 million in face value of policies for its worldwide client base of approximately 15,000 high net worth individuals and institutions. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. - This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The statements in this news release that are not historical statements, including statements regarding future financial performance, the market for our services, projected total business volume, the value of our new contract signings, backlog and business pipeline are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties, see our most recent Form 10-K. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Biography of Harold E. Rafuse Harold Rafuse, is the Co-Founder and Managing Director of Advanced Concepts and Technologies International (ACT I) headquartered in Waco Waco (wā`kō), city (1990 pop. 103,590), seat of McLennan co., E central Tex., on the Brazos River, just below the mouth of the Bosque; inc. 1856. It is a trading, shipping, and industrial center. , TX. He also is co-owner and General Manager of Aurora Aviation and Aurora Avionics located at McGregor Executive Airport, McGregor, TX. ACT I and the Aurora companies also have facilities at TSTC TSTC Texas State Technical College TSTC Tri-State Transportation Campaign TSTC Transportation Safety Training Center TSTC Terascale High-fidelity Simulations of Turbulent Combustion TSTC Target Selection & Tracking Console Airport in Waco, TX. ACT I has other offices in Madison Heights, MI; Dayton, OH; Merriville, IN; Los Angeles, CA; and Washington, DC. Dr. Rafuse has 43 years of experience in aviation, aerospace, scientific, engineering, technology, educational, senior program management, information resource management, and administrative positions. He oversees the aircraft maintenance, avionics, Flight School, and FBO FBO Federal Business Opportunities FBO FedBizOpps (formerly Commerce Business Daily) FBO Fixed Base Operator FBO For the Benefit Of (finance) FBO Fixed Base Operation FBO Faith Based Organization operations of the Aurora companies. He also manages ACT I's scientific, engineering, logistics, test and evaluation, enterprise modeling and simulation, and technology assessment projects in support to both public and private sector clients. Dr. Rafuse also oversees all headquarters infrastructure operations, including accounting and finance, human resources, information systems, legal, and contracts management. He served as a senior science team leader and contracts negotiator to the U.S. Defense Threat Reduction Agency The Defense Threat Reduction Agency (or DTRA) is a combat support agency of the United States Department of Defense (DoD) whose primary function is to analyze potential threats to the United States, both homeland and abroad, and provide contingency plans for all such assessing and assuring Russian Federation compliance with the provisions of START I in the dismantlement and destruction of nuclear intercontinental ballistic missiles and sea launched ballistic missiles. Dr. Rafuse holds a Ph.D. in Engineering Management from Hamilton University, a Masters in Business Administration from Texas Tech University, a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in Chemistry from St. Joseph's University and a Bachelor of Science degree in Chemical Technology from Temple University. He is a frequent presenter at national symposia and has had numerous articles published in professional journals. Dr. Rafuse is a member of the Board of Directors of the Greater Waco Chamber of Commerce; chairs the Greater Waco Aerospace, Aviation, and Defense Industries Alliance Business Development Committee; formerly chaired the Greater Waco Chamber of Commerce, Air Marketing Task Force; is a member of the Waco Business League; and was Past President of the Heart of Texas Chapter, Military Officers Association of America. His other professional affiliations include the National Defense Industrial Association, Air Force Association, Military Operations Research Society The Military Operations Research Society (MORS) is a society for professionals active within defense applications of operations research (OR) in the United States. Membership include analysts, researchers, consultants and officers in the United States Department of Defense, , American Chemical Society The American Chemical Society (ACS) is a learned society (professional association) based in the United States that supports scientific inquiry in the field of chemistry. Founded in 1876 at New York University, the ACS currently has over 160,000 members at all degree-levels and in , American Association for the Advancement of Science American Association for the Advancement of Science (AAAS), private organization devoted to furthering the work of scientists and improving the effectiveness of science in the promotion of human welfare. , and the Scientific Research Society of America. |
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