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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
AVID TECHNOLOGY INC.
-----------------
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
-----------------------------
(Title of Class of Securities)
05367P100
---------
(CUSIP Number)
Gregory D. Hitchan
Blum Capital Partners, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 26, 2006
--------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D,
and is filing this schedule because of Rule 13d-1(b)(3) or (4), check
the following box [ ].
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
Page 1 of 12
CUSIP NO. 05367P100 SCHEDULE 13D Page 2 of 12
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM CAPITAL PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,331,303**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,331,303**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,331,303**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- ------------------------------------------------------------------------------
** See Item 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 05367P100 SCHEDULE 13D Page 3 of 12
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,331,303**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,331,303**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,331,303**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 05367P100 SCHEDULE 13D Page 4 of 12
- -----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 04-3809436
- -----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- -----------------------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
- -----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- -----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,331,303**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,331,303**
- -----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,331,303**
- -----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%**
- -----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
- -----------------------------------------------------------------------------
** See Item 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 05367P100 SCHEDULE 13D Page 5 of 12
- -----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 02-0742606
- -----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- -----------------------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
- -----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- -----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,331,303**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,331,303**
- -----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,331,303**
- -----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%**
- -----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- -----------------------------------------------------------------------------
** See Item 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 05367P100 SCHEDULE 13D Page 6 of 12
- -----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON SADDLEPOINT PARTNERS GP, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 83-0424234
- -----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- -----------------------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
- -----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- -----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,331,303**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,331,303**
- -----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,331,303**
- -----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%**
- -----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
- -----------------------------------------------------------------------------
** See Item 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 05367P100 SCHEDULE 13D Page 7 of 12
Item 1. Security and Issuer
- ----------------------------
This Amendment No. 1 amends the Statement on Schedule 13D (the "Schedule
13D") filed with the Securities and Exchange Commission (the "Commission")
on April 24, 2006 by Blum Capital Partners, L.P., a California limited
partnership, ("Blum LP"); Richard C. Blum & Associates, Inc., a California
corporation ("RCBA Inc."); Blum Strategic GP III, L.L.C., a Delaware limited
liability company ("Blum GP III"); Blum Strategic GP III, L.P., a Delaware
limited partnership ("Blum GP III LP"); and Saddlepoint Partners GP, L.L.C.,
a Delaware limited liability company ("Saddlepoint GP") (collectively, the
"Reporting Persons"). This amendment relates to shares of common stock,
$.01 par value per share (the "Common Stock") of Avid Technology, Inc.,
a Delaware corporation (the "Issuer"). The principal executive office
and mailing address of the Issuer is One Park West, Tewksbury, MA 01876.
The following amendments to the Schedule 13D are hereby made. Unless
otherwise defined herein, all capitalized terms shall have the meanings
ascribed to them in the Schedule 13D.
Item 2. Identity and Background
- --------------------------------
Item 2 of the Schedule 13D is hereby amended as follows:
Since the filing of Schedule 13D, there have been changes to the executive
officers of Blum LP and RCBA Inc.
The principal business office address of Blum LP and RCBA Inc. is 909
Montgomery Street, Suite 400, San Francisco, California 94133. The names
of the executive officers and directors of Blum LP and RCBA Inc., their
addresses, citizenship and principal occupations are as follows:
Name and Business Citizenship Principal Occupation
Office Held Address or Employment
- -------------------- ----------------------- --------- --------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
President, Suite 400 Blum LP
Chairman & Director San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. Norway Managing Partner,
Managing Partner Suite 400 Blum LP
& Director San Francisco, CA 94133
Jose S. Medeiros 909 Montgomery St. Brazil Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Gregory L. Jackson 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
CUSIP NO. 05367P100 SCHEDULE 13D Page 8 of 12
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Jeffrey A. Cozad 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Jane J. Su 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
David H.S. Chung 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Partner, Chief Suite 400 Financial Officer,
Financial Officer, San Francisco, CA 94133 Blum LP
Assistant Secretary
& Director
Gregory D. Hitchan 909 Montgomery St. USA Partner, General
Partner, General Suite 400 Counsel & Secretary,
Counsel & Secretary San Francisco, CA 94133 Blum LP
Since the filing of Schedule 13D, there have been changes to the members of
Blum GP III.
The principal business office address of Blum GP III and Blum GP III LP is
909 Montgomery Street, Suite 400, San Francisco, California 94133. The names of
the managing members and members of Blum GP III, their addresses, citizenship
and principal occupations are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- -------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. Norway Managing Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Gregory L. Jackson 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Jeffrey A. Cozad 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
CUSIP NO. 05367P100 SCHEDULE 13D Page 9 of 12
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- -------------------
Jose S. Medeiros 909 Montgomery St. Brazil Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Jane J. Su 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
David H.S. Chung 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Member Suite 400 Financial Officer,
San Francisco, CA 94133 Blum LP
Gregory D. Hitchan 909 Montgomery St. USA Partner, General
Member & Suite 400 Counsel & Secretary,
General Counsel San Francisco, CA 94133 Blum LP
Since the filing of Schedule 13D, there have been changes to the members
of Saddlepoint GP.
The principal business office address of Saddlepoint GP, Saddlepoint LP and
Saddlepoint (Cayman) LP is 909 Montgomery Street, Suite 400, San Francisco,
California 94133. Blum LP is the managing member of Saddlepoint GP.
RCBA Inc. is the sole general partner of Blum LP. The principal business
office for Blum LP and RCBA Inc. and the names of the executive officers
and directors of RCBA Inc. and their addresses, citizenship and principal
occupations are disclosed above.
To the best knowledge of the Reporting Persons, none of the entities or
persons identified in this Item 2 has, during the past five years, been
convicted of any criminal proceeding (excluding traffic violations or
similar misdemeanors), nor been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to
such laws.
Item 5. Interest in Securities of the Issuer
- ---------------------------------------------
(a), (b) According to the Issuer's Form 10-Q filed with the Commission on
May 10, 2006, there were 42,239,625 shares of Common Stock issued and
outstanding as of April 24, 2006. Based on such information, after taking
into account the transactions described in Item 5(c) below, the Reporting
Persons report beneficial ownership of the following shares of Common
Stock: (i) 1,187,326 shares of Common Stock held by Blum LP and RCBA Inc.
on behalf of the limited partnerships for which Blum LP serves as the
general partner, or on behalf of an entity for which Blum LP serves as
investment advisor, which represents 2.8% of the outstanding shares of
the Common Stock; (ii) 1,968,277 shares of the Common Stock held by Blum
GP III which serves as general partner of Blum GP III LP which, in turn,
CUSIP NO. 05367P100 SCHEDULE 13D Page 10 of 12
serves as the general partner of Blum Strategic III, which represents 4.7%
of the outstanding shares of the Common Stock; (iii) 101,900 shares of the
Common Stock held by Saddlepoint GP on behalf of a partnership for which
it serves as the general partner, which represents 0.2% of the outstanding
shares of the Common Stock; and (iv) 36,900 shares of the Common Stock that
are legally owned by The Nuclear Decommissioning Trust of Dominion Nuclear
Connecticut, Inc. ("Dominion Connecticut"), which represents 0.1% of the
outstanding shares of the Common Stock and 36,900 shares of the Common Stock
that are legally owned by Virginia Electric and Power Company Qualified
Nuclear Decommissioning Trust ("Virginia Electric"), which represents 0.1%
of the outstanding shares of the Common Stock (collectively, the "Investment
Advisory Clients"), with respect to which Blum LP has voting and investment
power. Each Investment Advisory Client has entered into an investment
management agreement with Blum LP, but neither Investment Advisory Client
has any contract, arrangement or understanding with the other Investment
Advisory Client, or any other Reporting Person, with respect to the
acquisition, ownership, disposition or voting of any shares of the Common
Stock. Each Investment Advisory Client disclaims membership in a group with
any Reporting Person or with the other Investment Advisory Client, and each
disclaims beneficial ownership of any shares beneficially owned by the
Reporting Persons other than for their own account.
Voting and investment power concerning the above shares are held solely by
Blum LP, Blum GP III and Saddlepoint GP. The Reporting Persons therefore
may be deemed to be members in a group, in which case the group would be
deemed to have beneficial ownership of an aggregate of 3,331,303 shares
of the Common Stock, which is 7.9% of the outstanding Common Stock. As
the sole general partner of Blum LP, RCBA Inc. is deemed the beneficial
owner of the securities over which Blum LP has voting and investment
power. The filing of this Schedule shall not be construed as an admission
that any of the shareholders, directors or executive officers of RCBA Inc.
or the managing members and members of Blum GP III, Blum GP III LP and
Saddlepoint GP, is, for any purpose, the beneficial owner of any of the
securities that are beneficially owned by RCBA Inc., Blum GP III LP, Blum
GP III or Saddlepoint GP.
c) Since the most recent filing of Schedule 13D, the Reporting Persons
purchased the following shares of Common Stock in the open market:
Entity Trade Date Shares Price/Share
- ------ ---------- -------- -----------
Investment partnerships for 05-05-06 6,200 37.8034
which Blum LP serves as the 05-24-06 100 37.9493
general partner and on behalf 05-24-06 20,900 38.0000
of an entity for which Blum LP 05-26-06 28,700 39.5778
serves as investment advisor. 05-30-06 10,400 38.8809
05-30-06 3,400 38.8997
Entity Trade Date Shares Price/Share
- ------ ---------- -------- ----------
For Blum Strategic III for 05-05-06 55,280 37.8034
which Blum GP III LP 05-18-06 6,300 37.9900
serves as the general partner 05-19-06 47,650 38.0089
and for Blum GP III which 05-22-06 1,000 38.0100
serves as the general 05-24-06 114,600 37.9493
partner for Blum GP III LP. 05-24-06 57,600 38.0000
05-26-06 182,100 39.5778
05-30-06 65,173 38.8809
05-30-06 22,000 38.8997
CUSIP NO. 05367P100 SCHEDULE 13D Page 11 of 12
Entity Trade Date Shares Price/Share
- ------ ---------- ------- ----------
The partnership for which 05-05-06 900 37.8034
Saddlepoint GP serves as 05-24-06 900 38.0000
general partner. 05-26-06 3,000 39.5778
05-30-06 1,100 38.8809
05-30-06 400 38.8997
Entity Trade Date Shares Price/Share
- ------ ---------- ------ ------------
The Investment Advisory 05-05-06 400 37.8034
Clients for which Blum LP 05-24-06 600 38.0000
serves as investment advisor. 05-26-06 1,800 39.5778
05-30-06 600 38.8809
05-30-06 200 38.8997
(d) and (e) Not applicable.
Item 7. Material to be Filed as Exhibits
- -----------------------------------------
Exhibit A Joint Filing Undertaking.
CUSIP NO. 05367P100 SCHEDULE 13D Page 12 of 12
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement
is true, complete and correct.
Dated: May 31, 2006
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Partner, General Counsel and Partner, General Counsel and
Secretary Secretary
BLUM STRATEGIC GP III, L.L.C. BLUM STRATEGIC GP III, L.P.
By: Blum Strategic GP III, L.L.C.
Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ------------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Member and General Counsel Member and General Counsel
SADDLEPOINT PARTNERS GP, L.L.C.
By: Blum Capital Partners, L.P.
Its Managing Member
By: Richard C. Blum & Associates, Inc.
Its General Partner
By: /s/ Gregory D. Hitchan
-------------------------------
Gregory D. Hitchan
Partner, General Counsel and Secretary
CUSIP NO. 05367P100 SCHEDULE 13D Page 1 of 1
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement
of the below-named parties, in accordance with the rules promulgated
pursuant to the Securities Exchange Act of 1934, to file this Schedule
jointly on behalf of each such party.
Dated: May 31, 2006
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Partner, General Counsel and Partner, General Counsel and
Secretary Secretary
BLUM STRATEGIC GP III, L.L.C. BLUM STRATEGIC GP III, L.P.
By: Blum Strategic GP III, L.L.C.
Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ------------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Member and General Counsel Member and General Counsel
SADDLEPOINT PARTNERS GP, L.L.C.
By: Blum Capital Partners, L.P.
Its Managing Member
By: Richard C. Blum & Associates, Inc.
Its General Partner
By: /s/ Gregory D. Hitchan
-------------------------------
Gregory D. Hitchan
Partner, General Counsel and Secretary