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<SEC-DOCUMENT>0001145443-02-000868.txt : 20021206
<SEC-HEADER>0001145443-02-000868.hdr.sgml : 20021206
<ACCEPTANCE-DATETIME>20021206112316
ACCESSION NUMBER:		0001145443-02-000868
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20030131
FILED AS OF DATE:		20021206
EFFECTIVENESS DATE:		20021206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NORTHERN TECHNOLOGIES INTERNATIONAL CORP
		CENTRAL INDEX KEY:			0000875582
		STANDARD INDUSTRIAL CLASSIFICATION:	CONVERTED PAPER & PAPERBOARD PRODS (NO CONTAINERS/BOXES) [2670]
		IRS NUMBER:				410857886
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11038
		FILM NUMBER:		02850502

	BUSINESS ADDRESS:	
		STREET 1:		6680 N HIGHWAY 49
		CITY:			LINO LAKES
		STATE:			MN
		ZIP:			55014
		BUSINESS PHONE:		6127841250

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NORTHERN INSTRUMENTS CORP
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>d11578.htm
<TEXT>
<html>
<head>
<title>NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION PROXY STATEMENT</title>
</head>
<body>

<table width="600" cellspacing="0" cellpadding="0" border="0">
<tr>
<td>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><B>Schedule 14A</B></P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><B>(Rule 14a-101)</B></P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><B>INFORMATION REQUIRED IN PROXY STATEMENT</B></P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><BR></P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><B>SCHEDULE 14A INFORMATION</B></P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><B>Proxy Statement Pursuant to Section 14(a) of the Securities </B></P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><B>Exchange Act of 1934</B></P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">Filed by the registrant</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:180pt; line-height:10pt; font-size:10pt">[X]</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">Filed by a party other than the registrant</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:180pt; line-height:10pt; font-size:10pt">[&nbsp; &nbsp;]</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt">Check the appropriate box:</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">[ &nbsp;&nbsp;&nbsp;]</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:22.5pt; line-height:10pt; font-size:10pt">Preliminary Proxy Statement</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">[&nbsp; &nbsp;&nbsp;]</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:22.5pt; line-height:10pt; font-size:10pt">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">[&nbsp;X]</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:22.5pt; line-height:10pt; font-size:10pt">Definitive Proxy Statement</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">[&nbsp;&nbsp; &nbsp;]</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:22.5pt; line-height:10pt; font-size:10pt">Definitive Additional Materials</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">[&nbsp;&nbsp; &nbsp;]</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:22.5pt; line-height:10pt; font-size:10pt">Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION</B></P>
<HR SIZE=2 NOSHADE>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center>(Name of Registrant as specified in its Charter)</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><BR></P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt">Payment of Filing Fee (Check the appropriate box):</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">[&nbsp;X]</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:10pt; font-size:10pt">No fee required</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">[&nbsp;&nbsp;&nbsp; ] </P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:10pt; font-size:10pt">Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">(1)</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:18pt; line-height:10pt; font-size:10pt">Title of each class of securities to which transaction applies:</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">(2)</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:18pt; line-height:10pt; font-size:10pt">Aggregate number of securities to which transaction applies: &nbsp;</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">(3)</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:18pt; line-height:10pt; font-size:10pt">Per unit price or other underlying value of transaction computed pursuant to Exchange Act <BR>Rule 0-11: &nbsp;</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:10pt; font-size:10pt">(4)</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">Proposed maximum aggregate value of transaction: &nbsp;</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:10pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:10pt; font-size:10pt">(5)</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">Total fee paid:</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">[ &nbsp;&nbsp;&nbsp;]</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:10pt; font-size:10pt">Fee paid previously with preliminary materials</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:10pt; font-size:10pt">[ &nbsp;&nbsp;&nbsp;]</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:10pt">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. &nbsp;Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:36pt; line-height:10pt; font-size:10pt">(1)</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:54pt; line-height:10pt; font-size:10pt">Amount previously paid:</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:36pt; line-height:10pt; font-size:10pt">(2)</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:54pt; line-height:10pt; font-size:10pt">Form, Schedule or Registration Statement No.: </P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:36pt; line-height:10pt; font-size:10pt">(3)</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:54pt; line-height:10pt; font-size:10pt">Filing Party: </P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:36pt; line-height:10pt; font-size:10pt">(4)</P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:54pt; line-height:10pt; font-size:10pt">Date Filed: </P>
<P style="margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=right><BR></P>
</td>
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<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>&nbsp;<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
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<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
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<P ALIGN="CENTER"><IMG SRC="nti-logo.jpg"></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B>NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION</B></FONT></FONT></P>

<HR SIZE=2 NOSHADE width="150">

<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B>NOTICE OF ANNUAL MEETING OF STOCKHOLDERS</B></FONT></FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B>January 31, 2003</B></FONT></FONT></P>

<HR SIZE=2 NOSHADE width="150">

     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Annual Meeting of the
Stockholders of Northern Technologies International Corporation, a Delaware
corporation (the &#147;Company&#148;), will be held at Northern Technologies
International Corporation Headquarters, 6680 North Highway 49, Lino Lakes,
Minnesota 55014, beginning at 11:00 a.m., local time, on Friday, January 31,
2003, for the following purposes:</FONT></FONT></P>
</td></tr>
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<BR>


<TABLE width="600" cellspacing="0" cellpadding="6" border="0">
<tr valign="top"><td width="25">
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">1.</FONT></FONT></P>
</td>
<td width="575">

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">To elect ten persons to serve as the Company&#146;s Board of Directors until the next annual meeting of the stockholders or until
their respective successors shall be elected and qualified;</FONT></FONT></P>
</td></tr>
<tr valign="top"><td width="25">
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">2.</FONT></FONT></P>
</td>
<td width="575">

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">To transact such other business as may properly come before the meeting.</FONT></FONT></P>
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<BR>
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<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The record date for determination
of stockholders entitled to notice of and to vote at the meeting and any
adjournments thereof is the close of business on December 4, 2002.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whether or not you expect to
attend the meeting in person, please complete, sign, date and promptly return
the enclosed proxy in the envelope provided, which requires no postage if mailed
in the United States.</FONT></FONT></P>

</td></tr>
</TABLE>

<BR><BR>

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<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
<td width="300">

<P ALIGN="left"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">By Order of the Board of Directors<IMG SRC="wolsfeld.gif"><BR>Matthew C. Wolsfeld<BR><I>Interim Corporate Secretary</I></FONT></FONT></P>
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<BR>
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<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">December 12, 2002<BR>Lino Lakes, Minnesota</FONT></FONT></P>

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<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>&nbsp;<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
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<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION<BR>6680 N. Highway 49<BR>Lino Lakes, Minnesota 55014</B></FONT></FONT></P>

<HR SIZE=2 NOSHADE width="150">

<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>PROXY STATEMENT<BR>FOR ANNUAL MEETING OF STOCKHOLDERS</B></FONT></FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>January 31, 2003</B></FONT></FONT></P>

<HR SIZE=2 NOSHADE width="150">

<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>INTRODUCTION</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Annual Meeting of the
Stockholders of Northern Technologies International Corporation (the
&#147;Company&#148;) will be held at Northern Technologies International
Corporation Headquarters, 6680 North Highway 49, Lino Lakes, Minnesota 55014,
beginning at 11:00 a.m., local time, on Friday, January 31, 2003, or at any
adjournments thereof (the &#147;Annual Meeting&#148;), for the purposes set
forth in the Notice of Meeting.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A proxy card is enclosed for your
use. You are solicited on behalf of the Board of Directors to SIGN AND RETURN
THE PROXY CARD IN THE ACCOMPANYING ENVELOPE. No postage is required if mailed
within the United States. The cost of soliciting proxies, including the
preparation, assembly and mailing of proxies and soliciting material, as well as
the cost of forwarding such material to the beneficial owners of the
Company&#146;s common stock, will be borne by the Company. Directors, officers
and regular employees of the Company may, without compensation other than their
regular compensation, solicit proxies by telephone, telegraph or personal
conversation. The Company may reimburse brokerage firms and others for expenses
in forwarding proxy materials to the beneficial owners of the Company&#146;s
common stock.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any stockholder giving a proxy may
revoke it at any time prior to its use at the Annual Meeting either by giving
written notice of such revocation to the Secretary of the Company, by filing a
duly executed proxy bearing a later date with the Secretary of the Company or by
appearing at the Annual Meeting and filing written notice of revocation with the
Secretary of the Company prior to use of the proxy. Proxies will be voted as
specified by stockholders. Proxies that are signed by stockholders but that lack
any such specification will be voted in favor of the proposals set forth in the
Notice of Meeting and in favor of the election as directors of the nominees for
directors listed in this Proxy Statement.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE BOARD RECOMMENDS THAT THE
STOCKHOLDERS VOTE <B>FOR</B> THE APPROVAL OF THE PROPOSAL SET FORTH IN THE
NOTICE OF MEETING.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company expects that this
proxy material will first be mailed to stockholders on or about December 12,
2002.</FONT></FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>HOUSEHOLDING OF ANNUAL MEETING MATERIALS</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Some banks, brokers and other
nominee record holders may be participating in the practice of
&#147;householding&#148; proxy statements and annual reports. This means that
only one copy of the Company&#146;s Proxy Statement or Annual Report to
Stockholders may have been sent to multiple stockholders in each household. The
Company will promptly deliver a separate copy of either document to any
stockholder upon written or oral request to the Company, Northern Technologies
International Corporation, 6680 North Highway 49, Lino Lakes, Minnesota 55014,
Attn: Stockholder Information. Any stockholder who wants to receive separate
copies of the Company&#146;s Proxy Statement or Annual Report to Stockholders in
the future, or any stockholder who is receiving multiple copies and would like
to receive only one copy per household, should contact the stockholder&#146;s
bank, broker, or other nominee record holder, or the stockholder may contact the
Company at the above address and phone number.</FONT></FONT></P>

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<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>&nbsp;<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
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<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>VOTING OF SHARES</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Only holders of the Company&#146;s
common stock, $.02 par value (the &#147;Common Stock&#148;), of record at the
close of business on December 4, 2002 will be entitled to vote at the Annual
Meeting. On November 15, 2002, the Company had 3,635,751 outstanding shares of
Common Stock, each such share entitling the holder thereof to one vote on each
matter to be voted on at the Annual Meeting. The holders of a majority of the
shares entitled to vote and represented in person or by proxy at the Annual
Meeting (1,817,876 shares) will constitute a quorum for the transaction of
business at the Annual Meeting. In general, shares of Common Stock represented
by a properly signed and returned proxy card will be counted as shares present
and entitled to vote at the meeting for purposes of determining a quorum,
without regard to whether the card reflects abstentions (or is left blank) or
reflects a &#147;broker non-vote&#148; on a matter (i.e., a card returned by a
broker because voting instructions have not been received and the broker has no
discretionary authority to vote). Holders of shares of Common Stock are not
entitled to cumulate voting rights.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The election of a nominee for
director requires the approval of a plurality of the votes of the shares present
and entitled to vote in person or by proxy. Shares represented by a proxy card
voted as abstaining on any of the proposals will be treated as shares present
and entitled to vote that were not cast in favor of a particular matter, and
thus will be counted as votes against the matter. Shares represented by a proxy
card including any broker non-vote on a matter will be treated as shares not
entitled to vote on that matter, and thus will not be counted in determining
whether that matter has been approved.</FONT></FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>ELECTION OF DIRECTORS</B></FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Nomination</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bylaws of the Company, as
amended, provide that the Board of Directors (the &#147;Board&#148;) shall
consist of up to ten members. The Board has nominated the ten persons listed in
this Proxy Statement to serve as the directors of the Company until the next
regular meeting of stockholders or until their successors are elected and
qualified. All nominees are current Board members.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assuming a quorum is represented
at the Annual Meeting, either in person or by proxy, the election of each
director requires the affirmative vote of a plurality of the shares of Common
Stock represented in person or by proxy at the Annual Meeting. The Board
recommends a vote <B>FOR</B> the election of each of the nominees listed in this
Proxy Statement. The Board intends to vote the proxies solicited on its behalf
for the election of each of the nominees as directors. If prior to the Annual
Meeting the Board should learn that any of the nominees will be unable to serve
by reason of death, incapacity or other unexpected occurrence, the proxies may
be cast for another nominee to be designated by the Board to fill such vacancy,
unless the stockholder indicates to the contrary on the proxy. Alternatively,
the proxies may, at the Board&#146;s discretion, be voted for such fewer
nominees as results from such death, incapacity or other unexpected occurrence.
The Board has no reason to believe that any of the nominees will be unable to
serve.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Information About Nominees</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth
certain information as of November 15, 2002, which has been furnished to the
Company by each person who has been nominated by the Board to serve as a
director for the ensuing year.</FONT></FONT></P>

</td></tr>
</TABLE>

<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="BOTTOM">
     <TH align="left"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="1">Name<HR SIZE=1 NOSHADE width="25"></FONT></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="1">Age<HR SIZE=1 NOSHADE width="17"></FONT></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="1">Principal Occupation<HR SIZE=1 NOSHADE width="95"></FONT></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="1">Director<BR>Since<HR SIZE=1 NOSHADE width="35"></FONT></FONT></TH></TR>
<TR bgcolor="#cceeff" VALIGN="TOP">
     <TD WIDTH="25%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Philip M. Lynch</FONT></TD>
     <TD WIDTH="8%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">66</FONT></TD>
     <TD WIDTH="60%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Co-Chief Executive Officer and Chairman of the Board of the Company and Executive Vice President of Inter Alia Holding Company</FONT></TD>
     <TD WIDTH="7%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1979</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Dr. Donald A. Kubik</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">62</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Vice Chairman and Chief Technology Officer of the Company</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1995</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Richard G. Lareau</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">74</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Partner of Oppenheimer Wolff &amp; Donnelly LLP</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1980</FONT></TD></TR>
</TABLE>
<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>
<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>2<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
</td></tr>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="BOTTOM">
     <TH align="left"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="1">Name<HR SIZE=1 NOSHADE width="25"></FONT></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="1">Age<HR SIZE=1 NOSHADE width="17"></FONT></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="1">Principal Occupation<HR SIZE=1 NOSHADE width="95"></FONT></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="1">Director<BR>Since<HR SIZE=1 NOSHADE width="35"></FONT></FONT></TH></TR>
<TR bgcolor="#cceeff" VALIGN="TOP">
     <TD WIDTH="25%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Prof. Milan R. Vukcevich</FONT></TD>
     <TD WIDTH="8%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">65</FONT></TD>
     <TD WIDTH="60%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Chief Scientist Research and Development of Bicron Saint-Gobain Industrial Ceramics</FONT></TD>
     <TD WIDTH="7%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1995</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Haruhiko Rikuta</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">37</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Corporate Officer of Taiyonic Limited and President of NTI ASEAN, LLC</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1997</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Mrs. Ursula Kiel-Dixon</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">49</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Director, Head of Corporate Department Foreign Organization of ThyssenKrupp A.G.</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2001</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Prof. Aradhna Krishna</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">41</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Professor of Marketing, University of Michigan Business School</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2001</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Mark J. Stone</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">43</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">President, Petrus International, Inc.</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2001</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Stephan C. Taylor</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">55</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">President and Co-founder of Taylor Packaging and Manager of Zerust (U.K.) Ltd.</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2001</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Dr. Mehmet A. Gencer</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">50</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Founder and President of Atagencer LLC and IMET Corporation, Akron, Ohio</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2002</FONT></TD></TR>
</TABLE>
<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Lynch has been Executive Vice President of Inter Alia Holding Company, a financial and management consulting firm, for more
than six years. Mr. Lynch is a member of the Board of Directors of Fosbel S.A., Headquartered in Brussels, Belgium (operating in
North America, South America, Asia and in 17 Western and three Eastern European countries). Fosbel S.A. is itself a joint venture
between Glaverbel S.A., (Bruxelles), a leading Belgian glass manufacturing company and an affiliate of Asahi Glass Co., Ltd., and
Cinven Limited, an English Financial Institution. Mr. Lynch is also a member of the Board of Directors of Agra Tagger AG. in Austria
and EDR Inc. in Cleveland, Ohio.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dr. Kubik has been employed by the
Company since 1978, and was named Vice Chairman in September 1999. Dr. Kubik
served as Vice President of the Company from 1979 to September 1999 at which
time Dr. Kubik was appointed Vice Chairman. Additionally he served as Co-Chief
Executive Officer of the Company from September 1999 to May 2000. In May 2000,
Dr. Kubik was made Chief Technology Officer of the Company and is a member of
the Executive Committee. During his employment as Chief Technology Officer with
the Company, Dr. Kubik has been responsible for developing the patent that led
to the Company&#146;s introduction of protective plastic film and paper products
incorporating volatile corrosion inhibitors. Prior to joining the Company, Dr.
Kubik held a research and development position with Minnesota Mining &amp;
Manufacturing (3M).</FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Lareau has been a partner at the law firm of Oppenheimer Wolff &amp; Donnelly LLP for more than six years. Mr. Lareau also
serves as a trustee of Mesabi Trust, a New York Stock Exchange listed royalty trust.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prof. Vukcevich is a professor of
Material Sciences at the University of Arizona. He is recently retired from his
position as Chief Scientist Research and Development of Bicron Saint-Gobain
Industrial Ceramics. At GE Lighting, which employed Prof. Vukcevich from 1973 to
1995, he held various positions including Chief Scientist, Manager of
Metallurgical Engineering and Coordinator of International Research and
Development in Materials Science.</FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Rikuta, a citizen of Japan, has been President of Taiyo Petroleum Gas Co. Ltd. since July 2001. Prior to that he was the
manager of the ZERUST Department of the company, from February 1993 to 2001. From August 1991 to January 1993, Mr. Rikuta served as a
Sales Representative of the Company. Mr. Rikuta received a B.A. degree in Economics from Seijo University in Tokyo, Japan in March
1989. In May 1991, Mr. Rikuta received a B.A. degree in International Relations from the University of Wisconsin in Milwaukee,
Wisconsin. Taiyo Petroleum Gas Co. Ltd maintains a 50% ownership interest in NTI ASEAN, and also owns a 50% and 25% interest in the
Company&#146;s corporate joint venture located in Japan and Korea respectively.</FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mrs. Kiel-Dixon, a German citizen, has been Director, Head of Corporate Department Foreign Organization with ThyssenKrupp A.G.,
Germany, since November 1999. Previously, Mrs. Kiel-Dixon served as Head of Department, Sales and M&amp;A Strategy with ThyssenKrupp
Stainless GmbH, Germany, from October 1997 until October 1999, and as Director, Marketing for ThyssenKrupp Nirosta GmbH, from April
1997 to September 1997. From 1991 to 1997 Mrs. Kiel-Dixon was Deputy Head of Controlling Department with Fried. Krupp A.G.</FONT></FONT></P>
</td></tr>
</TABLE>

<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>
<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>3<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
</td></tr>
</TABLE>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Hoesch &#151;
Krupp. Mrs. Kiel-Dixon holds an M.A. in Economics from State University of New York at Stony Brook, NY.</FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prof. Krishna has been Professor of Business at University of Michigan Business School since 2000 and Associate Professor of
Business at the same institution from 1998 until 2000. Prof. Aradhna Krishna was an Associate Professor of Marketing at Columbia
University from 1993 to 1998. She is serving on the Editorial Board of Journal of Marketing Research and Marketing Letters. She has
published numerous business articles in academic journals. Her research has been featured on National Public Radio, Business Week and
other business media. Prof. Krishna holds a Ph.D. in Marketing from Graduate School of Business at New York University.</FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Stone has been President of Petrus International, Inc., an international consulting firm, since 1992. Mr. Stone has advised
a variety of Japanese and other multi-national corporations in areas including project finance and international investment strategy.
Mr. Stone was a director of Aqua Design, Inc., an international water desalination company, from 1988-1996. Mr. Stone was Director,
Marketing &amp; Business Development of Toray Marketing &amp; Sales (America) Inc. from 1986 to 1992. From 1980-1986 Mr. Stone was employed
by Mitsui &amp; Co. (U.S.A.), Inc. where he founded and was Treasurer of Hydro Management Resources, a Mitsui subsidiary which finances,
owns, and operates water treatment projects. Mr. Stone holds an A.B. from Harvard University.</FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Taylor, a citizen of the U.K., has been managing Taylor Packaging, and Zerust U.K. Ltd., the Company&#146;s joint venture in the
U.K. In 1973, Mr. Taylor founded, together with his father, Taylor Packaging and has assumed various managerial positions since. Mr.
Taylor graduated in Education from Bede College, University of Durham, England. Taylor Packaging maintains a 50% ownership interest
in the Company&#146;s corporate joint venture located in the U.K.</FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dr. Gencer has been the President and founder of IMET Corporation, Akron, Ohio since 1997. Since February 2002, Dr. Gencer has
been the Company&#146;s Executive Vice President, Director of New Technologies and Technical Services. Dr. Gencer was with BF Goodrich
Company from 1984 though 1999. While with BF Goodrich Co. he held the positions of Director of Emerging Technologies, Associate
Director of Technology and New Business Development, Senior R&amp;D Manager, Environmental Technology Research Manager and Biotechnology
Group Senior R&amp;D Engineer. Dr. Gencer obtained his Doctor of Philosophy in Chemical Engineering from Drexel University, Masters of
Science in Chemical Engineering from University of Pennsylvania, and Bachelor of Science in Chemical Engineering from Ege University.
Dr. Gencer has been providing consulting services to the Company since May 2000. Atagencer LLC, a limited liability corporation that
is principally owned by Dr. Gencer maintains a 25% ownership interest in the Company&#146;s corporate joint venture located in Turkey.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Information About the Board and its Committees</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The business and affairs of the
Company are managed by the Board, which held four meetings during the fiscal
year ended August 31, 2002. Committees established and maintained by the Board
include the Audit Committee, the Compensation Committee, the Nominating
Committee and the Strategic Planning Committee.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee of the Board
maintains an active role in communication with the Company&#146;s independent
auditors and with the management of the Company. The Audit Committee for fiscal
2002 consisted of Messrs. Lareau, Vukcevich and Stone. The Audit Committee met
five times during fiscal 2002. Messrs. Lareau, Vukcevich and Stone will serve as
the Audit Committee for fiscal 2003.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The responsibilities of the
Compensation Committee of the Board include setting the compensation for the
executive officers of the Company and setting the terms of and grants of awards
under the Company&#146;s 1994 Stock Incentive Plan. The Compensation Committee,
consisting of Messrs. Rikuta and Vukcevich, met once during fiscal 2002. Messrs.
Gencer, Rikuta, Taylor, Vukcevich and Krishna will serve as the Compensation
Committee for fiscal 2003.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The responsibilities of the
Nominating Committee of the Board include making recommendations for board
nominees. It also reviews board practices, approves management succession plans
and reviews outside director&#146;s</FONT></FONT></P>

</td></tr>
</TABLE>

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<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
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<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>4<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
</td></tr>
</TABLE>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>

     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">compensation. The Board members serving on
the Nominating Committee for fiscal 2003 are Messrs. Krishna, Stone and Lareau.
The Nominating Committee was created on November 15, 2002.</FONT></FONT></P>

     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The responsibilities of the
Strategic Planning Committee of the Board include developing the strategy of the
Company and evaluating feasibility of long-term projects of the Company. The
Board members serving on the Strategic Planning Committee are Messrs. Kubik,
Rikuta, Stone, Taylor, Krishna and Vukcevich; they will continue to serve on the
committee for fiscal year 2003. The committee met four times during fiscal 2002.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of the directors of the
Company attended 75% or more of the aggregate meetings of the Board and all such
committees on which they served during fiscal 2002.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Compensation of Directors</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Directors Fees.</I></B>
Each person who was a non-employee director received an annual retainer of
$10,000 in fiscal 2002 for services rendered as a director of the Company. Each
non-employee director of the Company further received $1,000 for each Board
meeting and Strategic Planning meeting and $500 for each Committee (e.g. Audit
and Compensation) meeting attended. The Chairman of the Board does not receive
any Board or committee meeting fee. The Company pays the premium on a group
insurance policy for the Chairman of the Board. During fiscal year 2003, the
Chairman of the Board will receive a salary of $1.00, having received no
compensation in prior years, and he will participate in the Company&#146;s
benefit plans for all employees.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Automatic Option Grants to
Non-Employee Directors.</I></B> Pursuant to the Company&#146;s 1994 and 2000
Stock Incentive Plan (the &#147;Plan&#148;), each non-employee director of the
Company is automatically granted a non-qualified option to purchase 2,000 shares
of Common Stock (a &#147;Director Option&#148;) on the first day of each fiscal
year in respect of services as a non-employee director of the Company.
Non-employee directors who are elected or appointed to the Board following the
first day of the Company&#146;s fiscal year receive pro-rata portion of 2,000
shares of Common Stock calculated by dividing the number of months remaining in
the fiscal year at the time of election or appointment divided by twelve, which
options are granted at the end of the relevant fiscal year.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On September 1, 1997, Messrs.
Dworkin, Hahn, Lareau, Lynch and Vukcevich each received a Director Option to
purchase 2,000 shares of Common Stock at an exercise price of $12.00 per share;
however, these options were returned and cancelled in fiscal 2000.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On November 19, 1997, Mr. Rikuta
received a Director Option to purchase 1,575 shares of Common Stock at an
exercise price of $10.625 per share.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On September 1, 1998, Messrs.
Dworkin, Hahn, Lareau, Lynch, Rikuta and Vukcevich each received a Director
Option to purchase 2,000 shares of Common Stock at an exercise price of $6.25
per share, and on September 1, 1999, the same individuals each received a
Director Option to purchase 2,000 shares of Common Stock at an exercise price of
$6.5625 per share. Subsequently, Mr. Lynch returned his September 1, 1999
Director Option to purchase 2,000 shares to the Option Plan. All of such
Director Options granted vest in equal one-third installments over a three-year
period.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On November 17, 2000, the Board of
Directors approved the automatic option grants as of September 1, 2000 to
Messrs. Dworkin, Lareau, Lynch, Rikuta, and Vukcevich. Each received a Director
Option to purchase 2,000 shares of Common Stock at an exercise price of $6.75.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February 9, 2001, Messrs.
Keil-Dixon, Krishna, Taylor, and Stone each received a Director Option to
purchase 1,000 shares of Common Stock at an exercise price of $5.50 per share.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On November 9, 2001, the Board of
Directors approved the automatic option grants as of September 1, 2001 to
Messrs. Lareau, Lynch, Rikuta, Vukcevich, Kiel-Dixon, Krishna, Stone, and
Taylor. Each received a Director Option to purchase 2,000 shares of Common Stock
at an exercise price of $5.00.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On November 15, 2002, the Board of
Directors approved the automatic option grants as of September 1, 2002 to
Messrs. Lareau, Lynch, Rikuta, Vukcevich, Kiel-Dixon, Krishna, Stone, Taylor and
Gencer each received a Director Option to purchase 2,000 shares of Common Stock
at an exercise price of $3.34.</FONT></FONT></P>

</td></tr>
</TABLE>

<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
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<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>5<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
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<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>PRINCIPAL STOCKHOLDERS AND BENEFICIAL<BR>OWNERSHIP OF MANAGEMENT</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth
information regarding the beneficial ownership of the Common Stock of the
Company as of November 15, 2002, unless otherwise noted, (a) by each stockholder
who is known by the Company to own beneficially more than 5% of the outstanding
Common Stock, (b) by each director, (c) each Named Executive Officer (as defined
below under the heading, &#147;Executive Compensation and Other Benefits&#148;)
and (d) by all executive officers and directors of the Company as a group.</FONT></FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="BOTTOM">
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">&nbsp;</FONT></TH>
     <TH COLSPAN="6"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Shares of Common Stock<BR>Beneficially Owned (1)<HR SIZE=1 NOSHADE width="95%"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TH align="left" COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Name<HR SIZE=1 NOSHADE width="6%"></FONT></TH>
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Amount<HR SIZE=1 NOSHADE width="90%"></FONT></TH>
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Percent of Class (2)<HR SIZE=1 NOSHADE width="90%"></FONT></TH></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD WIDTH="65%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Inter Alia Holding Company</FONT></TD>
     <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="2%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">911,668</FONT></TD>
        <TD WIDTH="4%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(3)</FONT></TD>
     <TD WIDTH="1%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD WIDTH="9%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">25.1</FONT></TD>
        <TD WIDTH="6%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">%</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Dr. Donald A. Kubik</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">114,008</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(4)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">3.2</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Richard G. Lareau</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">31,668</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(5)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Haruhiko Rikuta</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">22,244</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(6)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Mark Stone</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">11,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(7)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Prof. Milan R. Vukcevich</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">8,599</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(8)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Elsie F. Gilles 3</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">6,200</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(9)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">G. Patrick Lynch</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">4,700</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(10)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Dr. Mehmet Gencer</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">4,667</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(11)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Irina Roytman</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">3,650</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(12)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Philip M. Lynch</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">3,335</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(13)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Ursula Kiel-Dixon</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(14)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Aradhna Krishna</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(15)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Stephan Taylor</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(16)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Matthew C. Wolsfeld</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&#151;</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Prof. Efim Ya. Lyublinski</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&#151;</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Dr. Yelena L. Shanina</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&#151;</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">*</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Directors and executive officers as a group (17 persons)</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1,124,739</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(17)</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">31.0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
</TABLE>

<BR>
<HR SIZE=2 NOSHADE width="100" align="left">

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">*</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Less than 1%.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(1)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Shares not outstanding but deemed beneficially owned by virtue of the right of a
person or member of a group to acquire them within 60 days are treated as
outstanding only when determining the amount and percent owned by such person or
group. Unless otherwise noted, all of the shares owned or held by individuals or
entities possessing sole voting and investment power with respect to such
shares.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(2)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Based on 3,635,751 shares of
Common Stock outstanding as of November 15, 2002.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(3)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 911,668 shares held of record by Inter Alia Holding Company, a
financial and management consulting firm of which Mr. Philip M. Lynch, the
Chairman of the Board of Directors and the Co-Chief Executive Officer of the
Company, and Mr. G. Patrick Lynch, President and the Co-Chief Executive Officer
of the Company are officers and directors.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(4)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 2,667 shares of Common Stock, which may be acquired within 60 days
pursuant to the exercise of options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(5)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 4,668 shares of Common Stock,
which may be acquired within 60 days pursuant to the exercise of options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(6)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 3,335 shares of Common Stock, which may be acquired within 60 days
pursuant to the exercise of options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(7)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 10,000 shares held jointly
with his wife Margery Stone, and includes 1,000 shares of Common Stock, which
may be acquired within 60 days pursuant to the exercise of options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(8)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 657 shares held jointly with his wife Michelle Vukcevich, and includes
3,335 shares of Common Stock, which may be acquired within 60 days pursuant to
the exercise of options.</FONT></FONT></P>
</td></tr>
</TABLE>


<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>
<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>6<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
</td></tr>
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<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(9)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 3,000 shares of Common Stock, which may be acquired within 60 days pursuant to the exercise of options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(10)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 3,000 shares of Common Stock, which may be acquired within 60 days pursuant to the exercise of options. Does not
include 911,688 shares held of record or beneficially owned by Inter Alia Holding Company, of which Mr. G. Patrick Lynch is an
officer and director.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(11)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 667 shares of Common Stock, which may be acquired
within 60 days pursuant to the exercise of options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(12)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 350 shares
held jointly with her husband Alexander Roytman, and includes 3,000 shares of
Common Stock, which may be acquired within 60 days pursuant to the exercise of options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(13)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Does not include 911,668
shares held of record or beneficially owned by Inter Alia Holding Company, of
which Mr. Philip M. Lynch is an officer and director. Includes 1,334 shares of
Common Stock, which may be acquired within 60 days pursuant to the exercise of
options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(14)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 1,000 shares of Common Stock, which may be
acquired within 60 days pursuant to the exercise of options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(15)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 1,000
shares of Common Stock, which may be acquired within 60 days pursuant to the
exercise of options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(16)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes 1,000 shares of Common Stock, which may be
acquired within 60 days pursuant to the exercise of options.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(17)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Includes (i)
911,668 shares held of record by Inter Alia Holding Company, a financial and
management consulting firm of which Mr. Philip M. Lynch, the Chairman of the Board of Directors and the Co-Chief Executive Officer of the Company, and Mr. G.
Patrick Lynch, President and the Co-Chief Executive Officer of the Company are officers and directors, and (ii) options to
purchase 9,666 shares which are held by officers and directors of the Company which are exercisable within 60 days.</FONT></FONT></P>
</td></tr>
</TABLE>

<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>
<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>7<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
</td></tr>
</TABLE>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>EXECUTIVE COMPENSATION AND OTHER BENEFITS</B></FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Summary of Cash and Certain Other Compensation Paid to
Executive Officers</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table provides summary
information concerning cash and non-cash compensation paid or accrued by the
Company to or on behalf of the Company&#146;s Co-Chief Executive Officers and
the most highly compensated executive officers of the Company whose cash and
non-cash salary and bonus exceeded $100,000 in the fiscal year ended August 31,
2002 (the &#147;Named Executive Officers&#148;).</FONT></FONT></P>

<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Summary Compensation Table</B></FONT></FONT></P>
</td></tr>
</TABLE>
<BR>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="BOTTOM">
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1"></FONT></TH>
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1"></FONT></TH>
     <TH COLSPAN="6"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Annual Compensation<HR SIZE=1 NOSHADE width="92%"></FONT></TH>
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Long Term<BR>Compensation<HR SIZE=1 NOSHADE width="95%">Securities<BR>Underlying</FONT></TH>
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">All Other</FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TH align="left" COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Name and Principal Position<HR SIZE=1 NOSHADE width="49%"></FONT></TH>
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Year<HR SIZE=1 NOSHADE width="50%"></FONT></TH>
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Salary ($)<HR SIZE=1 NOSHADE width="82%"></FONT></TH>
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Bonus ($)(1)<HR SIZE=1 NOSHADE width="85%"></FONT></TH>
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Options (#)<HR SIZE=1 NOSHADE width="95%"></FONT></TH>
     <TH COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Compensation ($)(2)<HR SIZE=1 NOSHADE width="92%"></FONT></TH></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD WIDTH="40%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Philip M. Lynch (4)</FONT></TD>
     <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="2%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="6%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2002</FONT></TD>
     <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD WIDTH="8%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD WIDTH="2%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD WIDTH="8%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD WIDTH="2%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD WIDTH="7%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD WIDTH="9%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD WIDTH="6%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(3)</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;&nbsp;&nbsp;Chairman of the Board and</I></FONT></FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;</I></FONT></FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;</I></FONT></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2001</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(3)</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;&nbsp;&nbsp;Co-Chief Executive Officer</I></FONT></FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;</I></FONT></FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;</I></FONT></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2000</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(3)</FONT></TD></TR>
<TR VALIGN="BOTTOM">
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Donald A. Kubik (4)</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2002</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">200,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">5,500</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;&nbsp;&nbsp;Vice Chairman</I></FONT></FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;</I></FONT></FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;</I></FONT></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2001</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">200,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">20,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">5,250</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2000</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">200,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">5,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">G. Patrick Lynch (4)</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2002</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">110,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">3,850</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(3)</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;&nbsp;&nbsp;President and Co-Chief</I></FONT></FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;</I></FONT></FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;</I></FONT></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2001</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">103,054</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">20,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">3,606</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(3)</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;&nbsp;&nbsp;Executive Officer</I></FONT></FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;</I></FONT></FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>&nbsp;</I></FONT></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2000</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">95,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">3,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">3,325</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(3)</FONT></TD></TR>
</TABLE>

<BR>
<HR SIZE=2 NOSHADE width="100" align="left">

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(1)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">On November 17, 2000 the Board
of Directors approved bonuses to be paid in fiscal year 2001 related for the
services performed in the fiscal year 2000 for Mr. Kubik and G. Lynch in the
amount of $20,000 each, for which an accrual was made in the fiscal year 2000.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(2)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Compensation hereunder consists of contributions to the
401(k) plans of the Named Executive Officers.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(3)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Does not include any commissions payable to Inter Alia Holding Company, an entity of which Mr. Philip Lynch and Mr. G. Patrick
Lynch are officers and directors, under a certain Manufacturer&#146;s Representative Agreement. See &#147;Certain Relationships and
Related Party Transactions&#148; contained in this proxy statement.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(4)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Denotes the individual as a member of the Executive Committee.</FONT></FONT></P>
</td></tr>
</TABLE>

<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Option Grants and Exercises</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There were no options granted for
the year ended August 31, 2001 as to individual grants of options to purchase
shares of the Common Stock to any executive officers of the Company.</FONT></FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Aggregated Option Exercises in Fiscal 2002 and<BR>Fiscal 2002 Year-End Option Values</B></FONT></FONT></P>

</td></tr>
</TABLE>

<BR>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Shares Acquired</FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Value</FONT></TH>
     <TH colspan="2"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Number of Unexercised<BR>Options at August 31, 2002(#)<HR SIZE=1 NOSHADE width="90%"></FONT></TH>
     <TH colspan="2"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Value of Unexercised<BR>In-the-Money Options<BR>at August 31, 2002 (1) ($)<HR SIZE=1 NOSHADE width="90%"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TH align="left"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Name<HR SIZE=1 NOSHADE width="20%"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1">on Exercise (#)<HR SIZE=1 NOSHADE width="92%"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Realized ($)<HR SIZE=1 NOSHADE width="68%"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Exercisable<HR SIZE=1 NOSHADE width="80%"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Unexercisable<HR SIZE=1 NOSHADE width="80%"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Exercisable<HR SIZE=1 NOSHADE width="80%"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Unexercisable<HR SIZE=1 NOSHADE width="80%"></FONT></TH></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD WIDTH="22%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Philip M. Lynch</FONT></TD>
     <TD WIDTH="13%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
     <TD WIDTH="13%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
     <TD WIDTH="13%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">3,334</FONT></TD>
     <TD WIDTH="13%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2,666</FONT></TD>
     <TD WIDTH="13%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
     <TD WIDTH="13%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Donald A. Kubik</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2,667</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD></TR>
<TR bgcolor="#cceeff" VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">G. Patrick Lynch</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2,000</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1,000</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">0</FONT></TD></TR>
</TABLE>

<BR>
<HR SIZE=2 NOSHADE width="100" align="left">

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="30">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">(1)</FONT></FONT></P>
</td>
<td width="570">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Value is calculated as the excess of the fair market value of the Common Stock on August 31, 2002 over the exercise price of the
options. On August 31, 2002, the fair market value of the Common Stock was $3.34 per share.</FONT></FONT></P>
</td></tr>
</TABLE>

<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>
<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>8<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
</td></tr>
</TABLE>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Change in Control</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Company&#146;s 1994
Stock Incentive Plan and 2000 Stock Incentive Plan, options granted under the
plans will become fully exercisable following certain changes in control of the
Company, such as:</FONT></FONT></P>

</td></tr>
</TABLE>

<BR>
<TABLE width="600" cellspacing="0" cellpadding="6" border="0">
<tr valign="top">
<td width="20">
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td width="580">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">the sale, lease, exchange or other transfer of all or substantially all of the assets of the Company to a corporation that
is not controlled by the Company;</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">the approval by the Company&#146;s stockholders of any plan or proposal for the liquidation or dissolution of the Company;</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">certain merger or business combination transactions;</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">more than 40% of our
outstanding voting shares are acquired by any person or group of persons who did
not own any shares of common stock on the effective date of the plan; and</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">certain changes in the composition of the Company&#146;s Board of Directors.</FONT></FONT></P>
</td></tr>
</TABLE>

<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>

<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May 31, 2002, the Company
entered into a promissory note with Atagencer LLC, a limited liability
corporation that is principally owned by Dr. Mehmet Gencer, a member of the
Company&#146;s Board of Directors, in the amount of $50,000 at a rate of 2% per
annum. The note is due to the Company five years from the date of issuance. The
note was obtained by Atagencer LLC to obtain a 25% share in Fibro NTI Joint
Stock Company, of which NTIC is a 50% owner.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On June 30, 2002, the Company
entered into a promissory note with Mutec Instruments GmbH for EURO$125,000 at a
rate of 6.55% per annum. The note is due to the Company ten years from the date
of the note. NTIC currently owns 30% of the company. The promissory note will be
used by the Company to obtain capital equipment and finance operations.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In April 2000, the Company entered
into a consulting agreement with Dr. Gencer, a director of the Company. Under
the agreement, Dr. Gencer provides the Company with technology to enhance the
Company&#146;s intellectual property rights technology. In consideration for
such services, the Company paid Dr. Gencer during fiscal 2002 and 2001 $79,000
and $45,000, respectively. This agreement has no termination date.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October 1, 1976, the Company
entered into a Manufacturer&#146;s Representative Agreement with The Saxxon
Organization, Incorporated (the &#147;Agreement&#148;). The Agreement has no
expiration date and may be terminated by either party upon 60 days written
notice. Effective January 9, 1980, the Agreement was assigned to Inter Alia
Holding Company, a financial and management consulting firm of which Philip M.
Lynch, the Chairman of the Board of Directors of the Company, is an officer and
director. Under the Agreement, Inter Alia Holding Company (or the
&#147;Representative&#148;) is entitled to commissions from the Company on the
net proceeds of sales of the Company&#146;s product generated by Inter Alia
Holding Company. The Representative acts as an independent manufacturer&#146;s
representative of the Company. It has a non-exclusive worldwide right to offer
for sale and solicit orders for the Company&#146;s products in accordance with
prices determined by the Company. The Representative is responsible for all of
its own operating expenses with no entitlement for reimbursement from the
Company for this activity. The Representative has not affected any sales within
the United States. The Representative has developed sales outside the United
States, which resulted in commissions of approximately $66,419, $52,544, and
$42,590, for the fiscal years ended August 31, 2002, 2001 and 2000,
respectively. In light of the Company&#146;s own domestic sales effort and its
distributor network within the United States, the Company does not anticipate
the Representative developing any sales within the United States. Additionally,
the Company&#146;s expanding international joint venture program may also limit
opportunities abroad for the Representative. Thus, the Company does not
anticipate that the Representative will develop any significant sales volume for
the Company in the future.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company paid reimbursement for
travel and related Company expenses of $240,000 $249,000, and $378,000 for the
year ended August 31, 2002, 2001 and 2000, respectively, to Inter Alia Holding
Company of</FONT></FONT></P>

</td></tr>
</TABLE>

<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>
<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>9<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
</td></tr>
</TABLE>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>

     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">which the Company&#146;s Co-Chief Executive Officer and Chairman of
the Board is and officer and director. Such reimbursements of travel and related
expenses were not related to the functions of Inter Alia Holding Company as
representative, but rather were paid in respect of the conduct of business for
and on behalf of the Company. Mr. G. Patrick Lynch, President and Co-Chief
Executive Officer of the Company is also an officer and director of Inter Alia
Holding Company.</FONT></FONT></P>

<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>REPORT OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the
contrary set forth in any of the Company&#146;s previous or future filings under
the Securities Act or the Exchange Act that might incorporate this Proxy
Statement or future filings with the SEC, in whole or in part, the following
report shall not be deemed to be incorporated by reference into any such filing.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of the members of the Audit
Committee are independent for purposes of the American Stock Exchange listing
requirements. The Audit Committee operates under written charter adopted by the
Board of Directors, which is included in this proxy statement as Appendix A.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee has reviewed
and discussed the audited financial statements of the Company for the fiscal
year ended August 31, 2002 with the Company&#146;s management. The Audit
Committee has discussed with Deloitte &amp; Touche LLP, the Company&#146;s
independent public accountants, the matters required to be discussed by
Statement on Auditing Standards No.61 (Communication with Audit Committees).</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee has also
received the written disclosures and the letter from Deloitte &amp; Touche LLP
required by Independence Standards Board Standard No. 1 (Independence
Discussions with Audit Committees) and the Audit Committee has discussed the
independence of Deloitte &amp; Touche LLP with that firm.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on the Audit
Committee&#146;s review and discussions noted above, the Audit Committee
recommended to the Board of Directors that the Company&#146;s audited financial
statements be included in the Company&#146;s Annual Report on Form 10-KSB for
the fiscal year ended August 31, 2002 for filing with the SEC.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>Audit Fees</I></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audit fees billed by Deloitte
&amp; Touche LLP for services rendered in auditing the Company&#146;s financial
statements for fiscal 2002 and reviewing the financial statements included in
the Company&#146;s quarterly reports on Form 10-Q for fiscal year 2002 totaled
$87,775.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>Financial Information System Design and Implementation Fees</I></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deloitte &amp; Touche LLP did not
bill the company for any financial information systems design and implementation
services during fiscal year 2002.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><I>All Other Fees</I></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees billed by Deloitte &amp;
Touche LLP for all other non-audit services, including tax-related services,
provided during fiscal 2002 totaled $74,700.</FONT></FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>INDEPENDENT AUDITORS</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In February 2002, the
Company&#146;s Stockholders approved the engagement of Deloitte &amp; Touche
LLP, to serve as the Company&#146;s independent certified public accountants to
audit the Company&#146;s financial statements for the fiscal year ended August
31, 2002. The Company&#146;s Audit Committee, however, has not approved the
engagement of an independent certified public accountant to audit the
Company&#146;s financial statements for the fiscal year ending August 31, 2003.
The Audit Committee will address this matter at its next meeting and will engage
an independent certified public accountant for the fiscal year ended August 31,
2003.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has requested and
expects a representative of its auditing firm to be present at the Annual
Meeting, either by phone or in person, to make a statement if they so desire and
to respond to appropriate questions.</FONT></FONT></P>

</td></tr>
</TABLE>

<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>
<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>10<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
</td></tr>
</TABLE>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>

<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 16(a) of the Securities
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), requires the
Company&#146;s directors and executive officers and all persons who beneficially
own more than 10% of the outstanding shares of the Company&#146;s Common Stock
to file with the Securities and Exchange Commission initial reports of ownership
and reports of changes in ownership of the Company&#146;s Common Stock.
Executive officers, directors and greater than 10% beneficial owners are also
required to furnish the Company with copies of all Section 16(a) forms they
file. To the Company&#146;s knowledge, based upon a review of the copies of such
reports furnished to the Company and written representations that no other
reports were required, during the fiscal year ended August 31, 2002, none of the
directors, officers and beneficial owners of greater than 10% of the
Company&#146;s Common Stock failed to file on a timely basis the forms required
by Section 16 of the Exchange Act.</FONT></FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>STOCKHOLDER PROPOSALS FOR NEXT ANNUAL MEETING</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proposals of stockholders of the
Company that intend to be presented in the proxy materials relating to the next
Annual Meeting must be received by the Company at its principal executive
offices on or about September&nbsp;9, 2003.</FONT></FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>OTHER BUSINESS</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company knows of no business
that will be presented for consideration at the Annual Meeting other than that
described in this Proxy Statement. As to other business, if any, that may
properly come before the Annual Meeting, it is intended that proxies solicited
by the Board will be voted in accordance with the judgment of the person or
persons voting the proxies.</FONT></FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>MISCELLANEOUS</B></FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE COMPANY WILL FURNISH WITHOUT CHARGE A COPY OF ITS ANNUAL REPORT ON FORM 10-KSB FOR THE FISCAL YEAR ENDED AUGUST 31, 2002, TO
EACH PERSON WHO WAS A STOCKHOLDER OF THE COMPANY AS OF DECEMBER 4, 2002, UPON RECEIPT FROM ANY SUCH PERSON OF A WRITTEN REQUEST FOR
SUCH AN ANNUAL REPORT. SUCH REQUEST SHOULD BE SENT TO: NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION, 6680 N. HIGHWAY 49, LINO
LAKES, MINNESOTA 55014; ATTN: STOCKHOLDER INFORMATION.</B></FONT></FONT></P>

</td></tr>
</TABLE>

<BR><BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr valign="top"><td width="300">
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
<td width="300">

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">By Order of the Board of Directors<BR>&nbsp;<BR><IMG SRC="pml-sig.gif" width="175"><BR>Philip M. Lynch<BR><I>Chairman and Co-Chief Executive Officer</I></FONT></FONT></P>
</td></tr>
</TABLE>

<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">December 12, 2002<BR>Lino Lakes, Minnesota</FONT></FONT></P>

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<BR>

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<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>11<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
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<P ALIGN="right"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Appendix A</B></FONT></FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>AUDIT COMMITTEE CHARTER OF THE<BR>BOARD OF DIRECTORS OF<BR>NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION</B></FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Organization</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This charter governs the
operations of the Northern Technologies International Corporation Audit
Committee (the &#147;Committee&#148;). The Committee shall review and reassess
the charter periodically and submit changes to the board of directors for
approval. The Committee shall be appointed by the board of directors and shall
serve until their successors are appointed and qualify. Each Committee member
may be removed by the Board at any time. The Committee shall be comprised of at
least three directors, each of whom shall be independent as required by Section
10A of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;), as
amended by the Sarbanes-Oxley Act of 2002, and the rules promulgated thereunder,
and Rule 4200(a)(15) of the American Stock Exchange, as amended from time to
time.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All members of the Committee shall
be able to read and understand fundamental financial statements, including a
balance sheet, income statement and cash flow statement, and otherwise meet any
qualifications for members of an audit committee pursuant to the American Stock
Exchange Rules. At least one member of the Committee shall be a &#147;financial
expert&#148; as defined by the Exchange Act and rules promulgated thereunder and
by the American Stock Exchange Rules.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Statement of Policy</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee is a committee of
the Board of Directors. The Committee&#146;s primary function is to provide
assistance to the board of directors in fulfilling its oversight responsibility
to the stockholders relating to the Company&#146;s annual and quarterly
financial statements provided to stockholders and the Securities and Exchange
Commission (the SEC), the financial reporting process and the systems of
internal accounting and financial controls which management and the Board of
Directors have established and the annual independent audit of the
Company&#146;s financial statements. In so doing, it is the responsibility of
the Committee to maintain free and open communication between the Committee,
independent auditors and management of the Company.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee should have a clear
understanding with the independent auditors that the Committee is directly
responsible for the appointment, compensation and oversight of the independent
auditors, and that the ultimate accountability of the independent auditors is to
the Committee and to the Board of Directors. In discharging its oversight role,
the Committee is empowered to investigate any matter brought to its attention by
the auditors, an employee, the Co-Chief Executive Officers, the Chief Financial
Officer or any outside party with full access to all books, records, facilities,
and personnel of the Company and the power to retain outside counsel or other
experts for this purpose. The Committee will set procedures for disclosure of
information to the Committee and review the procedures set up by the Company.
The Committee will make regular reports to the Board of Directors concerning its
activities.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Responsibilities</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In carrying out its
responsibilities, the Committee believes its policies and procedures should
remain flexible, in order to best react to changing conditions and to ensure
that the corporate accounting and reporting practices of the Company are in
accordance with all requirements and are of the highest quality. Therefore, the
Committee shall take all actions that are consistent with this Charter, the
Company&#146;s Certificate of Incorporation and by-laws that the Committee deems
necessary or appropriate to fulfill its responsibilities.</FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The responsibilities of the
Committee include:</FONT></FONT></P>

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<BR>
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<tr valign="top">
<td width="20">
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td width="580">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">The Committee shall have a
clear understanding with management and the independent auditors that the
independent auditors report to the Board and the Committee, as representatives
of the Company&#146;s stockholders. The Committee shall review and discuss with
the auditors (a) their independence from</FONT></FONT></P>
</td></tr>
</TABLE>


<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>
<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>A-1<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
</td></tr>
</TABLE>

<TABLE width="600" cellspacing="0" cellpadding="6" border="0">
<tr valign="top">
<td width="20">
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
<td width="580">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">management and the Company and the
matters included in the written disclosures required by the Independence
Standards Board Standard No. the matters required to be discussed by Statement
on Auditing Standards (SAS) No. 61 and (c) the independence requirements for
auditors of the Sarbanes-Oxley Act. Annually, the Committee shall review and
recommend to the Board the selection of the Company&#146;s independent auditors.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">The Committee shall review
and discuss with management and the independent auditors the Company&#146;s
quarterly financial statements, including disclosures made under the
&#147;Management&#146;s Discussion and Analysis of Financial Condition and
Results of Operations,&#148; and the matters required to be discussed pursuant
to Statement on Auditing Standards No. 61, prior to the filing of its Form
10-QSB, including the results of the independent auditors&#146; review of the
quarterly financial statements to the extent applicable.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Review the financial
statements contained in the annual report to stockholders with management.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">The Committee shall review
and discuss with management and the independent auditors the Company&#146;s
annual audited financial statements to be included in the Company&#146;s Annual
Report on Form 10-KSB (or the annual report to stockholders if distributed prior
to the filing of Form 10-KSB), including disclosures made under the
&#147;Management&#146;s Discussion and Analysis of Financial Condition and
Results of Operations,&#148; and the matters required to be discussed pursuant
to Statement on Auditing Standards No. 61, and recommend to the Board whether
the audited financial statements should be included in the Company&#146;s Form
10-KSB. Also, the Committee shall discuss the results of the annual audit and
any other matters required to be communicated to the Committee by the
independent auditors under generally accepted auditing standards.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">Review and discuss with
management and the independent auditors, as applicable (a) major issues
regarding accounting principles and financial statement presentations, including
any significant changes in the Company&#146;s selection or application
accounting principles, and major issues as to the adequacy of the Company&#146;s
internal controls and any special audit steps adopted in light of material
control deficiencies; (b) analyses prepared by management or the independent
auditors setting forth significant financial reporting issues and judgments made
in connections with the preparation of the financial statements, including
analyses of the effects of alternative GAAP methods on the financial statements;
(c) any management letter provided by the independent auditors and the
Company&#146;s response to that letter; (d) any problems, difficulties or
differences encountered in the course of the audit work, including any
disagreements with management or restrictions on the scope of the independent
auditors&#146; activities or on access to requested information and
management&#146;s response thereto; (e) the effect of regulatory and accounting
initiatives, as well as off-balance sheet structures, on the financial
statements of the Company; and (f) earnings press releases and financial
information and earnings guidance provided to analysts and rating agencies.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">The Committee shall discuss
with management the Company&#146;s major financial risk exposures and the steps
management has taken to monitor the control such exposures.</FONT></FONT></P>
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<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">The Committee shall obtain
and review a report from the independent auditors at least annually regarding
(a) the independent auditors&#146; internal quality-control procedures, (b) any
material issues raised by the most recent quality-control, or peer review, of
the firm, or by any inquiry or investigation by governmental or professional
authorities within the preceding five years respecting one or more independent
audits carried out by the firm, (c) any steps taken to deal with any such
issues, and (d) all relationships between the independent auditors and the
Company.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">The Committee shall review
with the independent auditors their reports delivered pursuant to Section 10A(k)
of the Exchange Act.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">The Committee shall
establish procedures for dealing with concerns received from employees or other
regarding accounting, internal control or auditing matters.</FONT></FONT></P>
</td></tr>
</TABLE>

<BR>

<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr><td>
<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>A-2<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
</td></tr>
</TABLE>

<TABLE width="600" cellspacing="0" cellpadding="6" border="0">
<tr valign="top">
<td width="20">
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td width="580">
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">The Committee shall discuss
with the independent auditors the overall scope and plans for their respective
audits, including the adequacy of staffing and compensation.</FONT></FONT></P>
</td></tr>
<tr valign="top">
<td>
<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&#149;</FONT></FONT></P>
</td>
<td>
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">The Committee shall approve
all transactions between the Company and any &#147;Related Party,&#148; as
defined by the American Stock Exchange Rules.</FONT></FONT></P>
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<BR>

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<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Indemnification</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee members will be
indemnified by the Company to the maximum extent provided under Deleware law or
in accordance with any indemnification agreements between the Company and such
Committee members.</FONT></FONT></P>


<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Accountability of Outside Auditors</B></FONT></FONT></P>


     <P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The independent auditors employed
by the Company are accountable to and will report to the Committee and the Board
of Directors. It is the responsibility of the Committee to recommend to the
Board of Directors the selection, and, where appropriate, the replacement of the
independent auditors or the nomination of the independent auditors to be
proposed for stockholder approval in the Company&#146;s proxy statement, and it
is the responsibility of the Board of Directors to take whatever actions, based
on such recommendations, that it determines to be in the best interest of the
Company&#146;s stockholders.</FONT></FONT></P>


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<p align="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE=2>A-3<HR SIZE=2 NOSHADE><BR><PAGE></FONT></FONT></p>
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<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2"><B><I>NORTHERN TECHNOLOGIES <BR>INTERNATIONAL CORPORATION<BR>6680 N. HIGHWAY 49 <BR>LINO LAKES, MINNESOTA 55014</I></B></FONT></FONT></P>

</td>
<td width="10%">
&nbsp;
</td>
<td width="45%">
<P ALIGN="JUSTIFY"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2"><B>VOTE BY
MAIL</B></FONT></FONT><BR><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2">Mark, sign, and date your proxy card and return it in the
postage-paid envelope we have provided or return it to Northern Technologies
International Corporation, 51 Mercedes Way, Edgewood, NY 11717.</FONT></FONT></P>
</td>
</tr>
</table>

<BR><BR>
<table width="600" cellspacing="0" cellpadding="0" border="0">
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<td width="50%">
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">&nbsp;<BR>TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</FONT></FONT></P>
</td>
<td width="10%">
<P ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">&nbsp;<BR>NRTNT1</FONT></FONT></P>
</td>
<td width="40%">
<P ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">&nbsp;<BR>KEEP THIS PORTION FOR YOUR RECORDS</FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td colspan="3">
<HR NOSHADE SIZE="1">
</td>
</tr>
</table>
<table width="600" cellspacing="0" cellpadding="0" border="0">
<tr valign="bottom">
<td>
<P ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">DETACH AND RETURN THIS PORTION ONLY</FONT></FONT></P>
</td>
</tr>
</table>

<BR>
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<td>

<P ALIGN="center"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1"><B>THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</B></FONT></FONT><HR NOSHADE SIZE="2"></P>

<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1"><B>NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION</B></FONT></FONT></P>

<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">THE BOARD RECOMMENDS THAT THE STOCKHOLDERS <BR>VOTE &#147;FOR&#148; PROPOSAL 1.</FONT></FONT></P>
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<BR>

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<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1"><B>Vote On Directors<BR>&nbsp;</B></FONT></FONT></P>
</td>
</tr>
<tr valign="top">
<td width="2%">
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">1.</FONT></FONT></P>
</td>
<td width="34%">
<P ALIGN="JUSTIFY"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">PROPOSAL TO ELECT DIRECTORS:<BR>&nbsp;<BR>01) Philip M. Lynch<BR>02) Dr. Donald A.
Kubik <BR>03) Richard G. Lareau <BR>04) Prof.
Milan R. Vukcevich <BR>05) Haruhiko Rikuta<BR>06) Mrs. Ursula Kiel-Dixon <BR>07) Prof.
Aradhna Krishna <BR>08) Mark J. Stone <BR>09)
Stephan C. Taylor <BR>10) Dr. Mehmet A.
Gencer</FONT></FONT></P>
</td>
<td width="8%">
<P ALIGN="center"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1"><B>For</B><BR><B>All</B><BR>&nbsp;<BR>/&nbsp;&nbsp;&nbsp;/</FONT></FONT></P>
</td>
<td width="8%">
<P ALIGN="center"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1"><B>Withhold</B><BR><B>All</B><BR>&nbsp;<BR>/&nbsp;&nbsp;&nbsp;/</FONT></FONT></P>
</td>
<td width="8%">
<P ALIGN="center"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1"><B>For All</B><BR><B>Except</B><BR>&nbsp;<BR>/&nbsp;&nbsp;&nbsp;/</FONT></FONT></P>
</td>
<td width="40%">
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">To withhold authority to vote, mark &#147;For All Except&#148;<BR>and
write the nominee&#146;s number on the line below.<BR>&nbsp;<BR><HR NOSHADE SIZE="1"></FONT></FONT></P>
</td>
</tr>
</table>

<BR>
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<td>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">2. To transact such other business as may properly come before the meeting.</FONT></FONT></P>
</td>
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</table>
<BR>
<table width="600" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="60%">
<P ALIGN="Justify"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">For address changes
and/or comments, please check this box and write
them on the back where indicated.</FONT></FONT></P>

<P ALIGN="Justify"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1"><B>PLEASE SIGN</B> exactly as the name appears
on this card. When shares are held by joint tenants, both should sign. When
signing as an attorney, executor, administrator, trustee or guardian, please
give full title as such. If a corporation, please sign in full corporate name by
President or other authorized officer. If a partnership, please sign in
partnership name by authorized person.</FONT></FONT></P>
</td>
<td width="40%">
<P ALIGN="left"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">&nbsp;<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/&nbsp;&nbsp;&nbsp;/</FONT></FONT></P>
</td>
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</table>




<table width="600" cellspacing="0" cellpadding="0" border="0">
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<P ALIGN="left"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">&nbsp;<BR></FONT></FONT><FONT SIZE="1"><FONT FACE="Arial, Helvetica, Sans-Serif"><HR NOSHADE SIZE="1"><BR>&nbsp;<BR><HR NOSHADE SIZE="1">Signature [PLEASE SIGN WITHIN BOX] &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date</FONT></FONT></P></td>
<td width="10%">
<P ALIGN="left"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">&nbsp;</FONT></FONT></P>
</td>
<td width="45%">
<P ALIGN="left"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="1">&nbsp;<BR></FONT></FONT><FONT SIZE="1"><FONT FACE="Arial, Helvetica, Sans-Serif"><HR NOSHADE SIZE="1"><BR>&nbsp;<BR><HR NOSHADE SIZE="1">
Signature (Joint Owners) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date</FONT></FONT></P>
</td>
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</table>

<HR NOSHADE SIZE="2" width="600" align="left">
<PAGE>
<BR>
<HR NOSHADE SIZE="1" width="600" align="left">
<BR>
<HR NOSHADE SIZE="2" width="600" align="left">

<table width="600" cellspacing="0" cellpadding="0" border="0">
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<P ALIGN="CENTER"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2"><B>THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS</B></FONT></FONT></P>

<P ALIGN="CENTER"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2"><B>NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION</B></FONT></FONT></P>

<P ALIGN="CENTER"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2"><B>ANNUAL MEETING OF STOCKHOLDERS<BR>January 31, 2003</B></FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2">The undersigned, having duly received the Notice of Annual
Meeting of Stockholders and Proxy Statement, hereby appoints Philip M. Lynch and
Donald A. Kubik, or either of them, as proxies, each with the power to appoint
his substitute, and hereby authorizes them to represent and to vote, as
designated on the reverse side of this ballot, all of the shares of Common Stock
of Northern Technologies International Corporation that the undersigned is
entitled to vote at The Annual Meeting of Stockholders of Northern Technologies
International Corporation, a Delaware corporation (the &#147;Company&#148;), to
be held at Northern Technologies International Corporation Headquarters, 6680
North Highway 49, Lino Lakes, Minnesota 55014, beginning at 11:00 a.m., local
time, on Friday, January 31, 2003, for the purposes stated on the reverse side,
and any adjournment or postponement thereof.</FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2"><B>WHEN PROPERLY EXECUTED, THIS PROXY WILL BE VOTED IN THE
MANNER DIRECTED HEREIN BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS MADE,
THE PROXY WILL BE VOTED FOR THE ELECTION OF ALL NOMINEES FOR DIRECTORS AND, IN
THE DISCRETION OF THE PROXY HOLDER, ON OTHER MATTERS WHICH MAY PROPERLY COME
BEFORE THE MEETING.</B></FONT></FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2"><B>PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY CARD PROMPTLY USING THE ENCLOSED REPLY ENVELOPE</B></FONT></FONT></P>
</td>
</tr>
</table>
<BR>
<TABLE width="600" cellspacing="0" cellpadding="0" border="0">
<tr>
<td width="10%">
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td>
<td width="80%">
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2"><HR NOSHADE SIZE="2"><B>Address
Changes/Comments:</B><BR>&nbsp;<HR NOSHADE SIZE="1">&nbsp;<HR NOSHADE SIZE="1">&nbsp;<HR NOSHADE SIZE="2"><FONT SIZE="1"><center>(If you noted any address changes/comments above, please mark corresponding box on other side.)</center></FONT></FONT></FONT></P>
</td>
<td width="10%">
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2">&nbsp;</FONT></FONT></P>
</td></tr>
</TABLE>

<BR>

<table width="600" cellspacing="0" cellpadding="0" border="0">
<tr valign="bottom">
<td>
<P ALIGN="CENTER"><FONT FACE="Arial, Helvetica, Sans-Serif"><FONT SIZE="2"><B>CONTINUED AND TO BE SIGNED ON REVERSE SIDE</B></FONT></FONT></P>
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