Item 8.01 Other Events.

On March 24, 2009 the Company learned that a member of its audit committee serves on the audit committees of three other public companies. In such event, Rule 303A.07(a) of the New York Stock Exchange Listed Company Manual provides that the board of directors must determine that such simultaneous service does not impair the ability of such member to effectively serve on the listed company's audit committee and disclose such determination in the listed company's annual proxy statement or, if the company does not file an annual proxy statement, in the company's annual report on Form 10-K filed with the SEC.

The Company's Board promptly considered this matter and determined that service on those other audit committees did not impair the member's ability to serve on the Company's audit committee. Moreover, the member is not standing for re-election to one of the other boards and will conclude his service on that board in May 2009.