Item 8.01. Other Events.

On November 10, 2008, UBS AG confirmed the Company's acceptance of the offer of Auction Rate Securities Rights (ARS Rights), made pursuant to the UBS prospectus dated October 7, 2008. The ARS Rights enable the Company to sell to UBS all of its auction rate securities at par value, approximately $52.1 million, plus accrued but unpaid interest and dividends, at any time during a two-year period beginning June 30, 2010. In exchange for the issuance of the ARS Rights, the Company has granted UBS the sole discretion and right to sell or otherwise dispose of, and/or enter orders in the auction process with respect to, the Company's auction rate securities on the Company's behalf until the expiration date of the ARS Rights, without prior notification, so long as par value, as described above, is returned to the Company in the event of a sale or other disposition. The Company may, at any time, elect to sell or otherwise transfer some or all of its auction rate securities to a party other than UBS, but the ARS Rights with respect to the sold/transferred securities will be cancelled. If such a sale or other transfer is at less than par value, UBS will not be obligated to pay the shortfall.

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