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<SEC-DOCUMENT>0001144204-09-009057.txt : 20090217
<SEC-HEADER>0001144204-09-009057.hdr.sgml : 20090216
<ACCEPTANCE-DATETIME>20090217161958
ACCESSION NUMBER:		0001144204-09-009057
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20090217
DATE AS OF CHANGE:		20090217

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CTI INDUSTRIES CORP
		CENTRAL INDEX KEY:			0001042187
		STANDARD INDUSTRIAL CLASSIFICATION:	FABRICATED RUBBER PRODUCTS, NEC [3060]
		IRS NUMBER:				362848943
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-53657
		FILM NUMBER:		09614102

	BUSINESS ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010

	MAIL ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SCHWAN JOHN H
		CENTRAL INDEX KEY:			0001056661

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		8473821000

	MAIL ADDRESS:	
		STREET 1:		22160 N PEPPER ROAD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>v140458_sc13d.htm
<TEXT>
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    <title>Unassociated Document</title>
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STATES</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C.&#160;&#160;20549</font></div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SCHEDULE
13D</font></div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Under
the Securities Exchange Act of 1934</font></div>
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            <td width="100%" style="BORDER-BOTTOM: black 2px solid">
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font size="2" style="FONT-WEIGHT: normal">(Name of
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              <td width="50%" style="TEXT-ALIGN: center"><font style="FONT-WEIGHT: normal">&#160;</font></td>
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              <td colspan="3" width="25%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal">125961 30
  0</font></font></td>
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              <td width="25%" style="TEXT-ALIGN: center"><font style="FONT-WEIGHT: normal">&#160;</font></td>
              <td width="50%" style="TEXT-ALIGN: center"><font size="2" style="FONT-WEIGHT: normal">&#160;</font></td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stephen
      M. Merrick, Executive Vice-President</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">22160
      N. Pepper Road, Barrington, Illinois 60010 (847)
  382-1000</font></div>
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              <td colspan="3" width="25%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Name,
      Address and Telephone Number of Person Authorized to Receive Notices and
      Communications)&#160;</font></td>
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              <td width="25%" style="TEXT-ALIGN: center"><font style="FONT-WEIGHT: normal">&#160;</font></td>
              <td width="50%" style="TEXT-ALIGN: center"><font style="FONT-WEIGHT: normal">&#160;</font></td>
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              <td colspan="3" width="25%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal">February 17,
      2009</font></font></td>
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              <td width="25%">&#160;</td>
              <td width="50%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Date
      of Event which Requires Filing of this Statement)</font></div>
              </td>
              <td width="25%">&#160;</td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If the
filing person has previously filed a statement on Schedule 13G to report the
acquisition which is the subject of this Section 13D, and is filing this
schedule because of <font style="DISPLAY: inline;" face="WP TypographicSymbols">'</font>
240.13d-1(e), 240.13d-1(f) or 240.13d-1(g) check the following
box&#160;&#160;<font style="DISPLAY: inline;" face="WP IconicSymbolsA">9</font>.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note:
Schedules filed in paper format shall include a signed original and five copies
of the Schedule, including all exhibits.&#160;&#160;See <font style="DISPLAY: inline;" face="WP TypographicSymbols">'</font> 240.13d-7
for other parties to whom copies are to be sent.</font></div>
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remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter disclosure
provided in a prior cover page.</font></div>
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information required in the remainder of this cover page shall not be deemed to
be <font style="DISPLAY: inline;" face="WP TypographicSymbols">A</font>filed<font style="DISPLAY: inline;" face="WP TypographicSymbols">@</font> for the
purpose of Section 18 of the Securities Exchange Act of 1934 (<font style="DISPLAY: inline;" face="WP TypographicSymbols">A</font>Act<font style="DISPLAY: inline;" face="WP TypographicSymbols">@</font>) or
otherwise subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the
Notes).</font></div>
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            <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;CUSIP No.
      <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">125961
      30 0</font></font></td>
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              <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13D</font></div>
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      Pages</font></div>
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    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid; WIDTH: 100%; BORDER-BOTTOM: black 1px solid">
        <div align="center">
          <table border="0" cellpadding="1" cellspacing="0" width="100%" style="FONT-SIZE: 10pt">
              <tr style="FONT-SIZE: 1px;">
                <td width="5%">&#160;</td>
                <td width="1%" style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td width="5%">&#160;</td>
                <td width="5%">&#160;</td>
                <td width="1%">&#160;</td>
                <td width="83%">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td rowspan="4" valign="middle"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">1</font></font></td>
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">NAMES OF REPORTING PERSONS:<br><br>John H.
    Schwan</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      (ENTITIES ONLY):<br>&#160;</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">
                </td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4" style="BORDER-TOP: #000000 1px solid">&#160;</td>
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              <tr valign="bottom">
                <td rowspan="3" valign="middle"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">2</font></font></td>
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
      (SEE INSTRUCTIONS):<br><br></td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">(a)&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: wingdings">o</font>&#160;</td>
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              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">(b)&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: wingdings">o</font>&#160;</td>
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              <tr style="FONT-SIZE: 1px;">
                <td style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4" style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td rowspan="3" valign="middle"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">3</font></font></td>
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">SEC USE ONLY:</td>
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              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">&#160;</td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4" style="BORDER-TOP: #000000 1px solid">&#160;</td>
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              <tr valign="bottom">
                <td rowspan="3" valign="middle"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">4</font></font></td>
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">SOURCE OF FUNDS (SEE INSTRUCTIONS):</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="11">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="11">OO</td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4" style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td rowspan="3" valign="middle"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">5</font></font></td>
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
      REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4" style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td rowspan="3" valign="middle"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">6</font></font></td>
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">CITIZENSHIP OR PLACE OF ORGANIZATION:</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">Unites States</td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td align="left" colspan="3" style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td align="left" style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td align="left" style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td colspan="3">&#160;</td>
                <td rowspan="3" valign="middle" style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">7</font></font></td>
                <td>&#160;</td>
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              </tr>
              <tr valign="bottom">
                <td colspan="3">&#160;</td>
                <td>&#160;</td>
                <td>&#160;</td>
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              <tr valign="bottom">
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                <td align="left">582,140 Shares of Common Stock</td>
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              <tr style="FONT-SIZE: 1px;">
                <td colspan="3">&#160;</td>
                <td align="left" style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td align="left" style="BORDER-TOP: #000000 1px solid">&#160;</td>
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              <tr valign="bottom">
                <td colspan="3">SHARES</td>
                <td rowspan="3" valign="middle" style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">8</font></font></td>
                <td>&#160;</td>
                <td align="left">SHARED VOTING POWER:</td>
              </tr>
              <tr valign="bottom">
                <td colspan="3">BENEFICIALLY</td>
                <td>&#160;</td>
                <td>&#160;</td>
              </tr>
              <tr valign="bottom">
                <td colspan="3">OWNED BY</td>
                <td>&#160;</td>
                <td>None</td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td colspan="3">&#160;</td>
                <td align="left" style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td align="left" style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td colspan="3">EACH</td>
                <td rowspan="3" valign="middle" style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">9</font></font></td>
                <td>&#160;</td>
                <td align="left">SOLE DISPOSITIVE POWER:</td>
              </tr>
              <tr valign="bottom">
                <td colspan="3">REPORTING</td>
                <td>&#160;</td>
                <td>&#160;</td>
              </tr>
              <tr valign="bottom">
                <td colspan="3">PERSON</td>
                <td>&#160;</td>
                <td align="left">582,140 Shares of Common Stock</td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td colspan="3">&#160;</td>
                <td align="left" style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td align="left" style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td colspan="3">WITH</td>
                <td rowspan="3" valign="middle" style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">10</font></font></td>
                <td>&#160;</td>
                <td align="left">SHARED DISPOSITIVE POWER:</td>
              </tr>
              <tr valign="bottom">
                <td colspan="3">&#160;</td>
                <td>&#160;</td>
                <td>&#160;</td>
              </tr>
              <tr valign="bottom">
                <td colspan="3">&#160;</td>
                <td>&#160;</td>
                <td align="left">None</td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4" style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td rowspan="3" valign="middle"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">11</font></font></td>
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
      REPORTING PERSON:</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">582,140 Shares of Common Stock</td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4" style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td rowspan="3" valign="middle"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">12</font></font></td>
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">CHECK IF THE AGGREGATE AMOUNT IN ROW
      (11)&#160;EXCLUDES CERTAIN SHARES* (SEE INSTRUCTIONS):</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4" style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td rowspan="3" valign="middle"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">13</font></font></td>
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
      (11):</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">Approximately 20.73% of the issued and
      outstanding Common Stock</td>
              </tr>
              <tr style="FONT-SIZE: 1px;">
                <td style="BORDER-TOP: #000000 1px solid">&#160;</td>
                <td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4" style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td rowspan="3" valign="middle"><font style="FONT-SIZE: 18pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">14</font></font></td>
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">TYPE OF REPORTING PERSON (SEE
INSTRUCTIONS):</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">&#160;</td>
              </tr>
              <tr valign="bottom">
                <td style="BORDER-LEFT: #000000 1px solid">&#160;</td>
                <td align="left" colspan="4">IN</td>
              </tr>
          </table>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      <div id="FTR">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
      <div>
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;CUSIP No.
      <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">125961
      30 0</font></font></td>
              <td width="33%">
                <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13D</font></div>
              </td>
              <td width="33%">
                <div style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Page&#160;3&#160;of&#160;4
      Pages</font></div>
                </div>
              </td>
            </tr>
        </table>
      </div>
      <div>
        <div style="TEXT-INDENT: 27pt" align="center">&#160;</div>
      </div>
    </div>
    <div align="left">
      <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2">ITEM 1.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Security and
Issuer.</font></font></div>
      <div align="left">&#160;</div>
      <div style="TEXT-INDENT: 45pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
Statement relates to shares of Common Stock (&#8220;Common Stock&#8221;) of CTI Industries
Corporation (the &#8220;Company&#8221;).&#160;&#160;The Company&#8217;s principal executive
offices are located at 22160 N. Pepper Road, Barrington, IL 60010.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
2.&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Identity and
Background.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
Statement is filed by John H. Schwan, an individual whose business address 22160
N. Pepper Road, Barrington, IL 60010.&#160;&#160;Mr. Schwan is both Chairman of
the Board and a Vice President of the Company.&#160;&#160;The address of the
Company&#8217;s principal executive offices is 22160 N. Pepper Road, Barrington, IL
60010.&#160;&#160;Mr. Schwan is a citizen of the United States of
America.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the past five years, Mr. Schwan has not been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors), nor has he been a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
3.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Source and Amount of
Funds or Other Consideration.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 8, 2008, Mr. Schwan acquired 93,000 shares of Common Stock through the
exercise of a warrant for the purchase of such shares at the price of $4.87per
share.&#160;&#160;The warrant was issued on March 20, 2003 in connection with
the loan by Mr. Schwan on an aggregate of $500,000 to the Company, the principal
amount of which was reflected in subordinated notes issued to Mr. Schwan by the
Company.&#160;&#160;The purchase price for the shares purchased by the exercise
of the warrant was paid by the surrender and cancellation of $452,910 in
principal amount of such notes.&#160;&#160;As of the date of this Statement, no
arrangements with third parties have been made with respect to financing the
acquisition of additional shares of Common Stock.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
4.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Purpose of
Transaction.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
Schwan has acquired the shares of Common Stock indicated herein solely for
investment purposes.&#160;&#160;Mr. Schwan may elect to acquire additional
shares of Common Stock or to sell shares.&#160;&#160;Any such determination may
be based on a number of factors, including the continued employment of Mr.
Schwan by the Company, the continued attractiveness of investment in the Company
at then prevailing market prices, the number of shares of Common Stock that are
available for purchase, the price or prices thereof, general market conditions
and other similar factors.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">While Mr.
Schwan reserves the right to develop plans or proposals in the future with
respect to the following items, at the present time Mr. Schwan has no plans or
proposals that relate to or would result in any of the following:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>&#160;</div>
        <div align="center">
          <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(a)</font></td>
                <td valign="top" width="90%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">An
      extraordinary corporate transaction, such as a merger, reorganization or
      liquidation, involving the Company or any of its
      subsidiaries;</font></font></td>
              </tr>
              <tr>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(b)</font></td>
                <td valign="top" width="90%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Sale or transfer of
      a material amount of assets of the Company or any of its <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Subsidiaries;</font></font></td>
              </tr>
              <tr>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(c)</font></td>
                <td valign="top" width="90%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Any change in the
      present Board of Directors or management of the Company, including any
      plans or proposals to change the number or term of directors or to fill
      any existing vacancies on the Board;</font></td>
              </tr>
              <tr>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(d)</font></td>
                <td valign="top" width="90%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Any material change
      in the present capitalization or dividend policy of the
  Company;</font></td>
              </tr>
          </table>
        </div>
        <div align="center">&#160;</div>
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;CUSIP No.
      <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">125961
      30 0</font></font></td>
                <td width="33%">
                  <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13D</font></div>
                </td>
                <td width="33%">
                  <div style="TEXT-ALIGN: right">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Page&#160;4&#160;of&#160;4
      Pages</font></div>
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        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(e)</font></td>
                <td valign="top" width="90%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Any
      other material change in the Company&#8217;s business or corporate
      structure;<font size="3"> </font></font></font></td>
              </tr>
              <tr>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(f)</font></td>
                <td valign="top" width="90%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Changes in the
      Company&#8217;s charter, bylaws or instruments corresponding thereto or other
      actions which may impede the acquisition of control of the Company by any
      person;</font></td>
              </tr>
              <tr>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(g)</font></td>
                <td valign="top" width="90%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Causing a class of
      securities of the Company to be delisted from a national securities
      exchange or cease to be authorized to be quoted in an inter-dealer
      quotation system of a registered national securities
  association;</font></td>
              </tr>
              <tr>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(h)</font></td>
                <td valign="top" width="90%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">A class of equity
      securities in the Company becoming eligible for termination of
      registration pursuant to Section 12(g)(4) of the Securities Exchange Act
      of 1934, as amended; or</font></td>
              </tr>
              <tr>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(i)</font></td>
                <td valign="top" width="90%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Any action similar
      to any of those enumerated above.</font></td>
              </tr>
          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
5.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Interest in
Securities of the Issuer.</font></div>
      </div>
    </div>
    <div align="left">
      <div align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the
rules and regulations of the Securities and Exchange Commission, Mr. Schwan may
be deemed to be the beneficial owner of a total of 582,140 shares of Common
Stock of the Company, representing approximately 20.73% of the issued and
outstanding shares of Common Stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
percentage of outstanding shares of Common Stock of the Company set out in the
preceding paragraph is computed based on a total of 2,808,720 shares of Common
Stock outstanding as of February 17, 2009.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the past 60 days, Mr. Schwan has engaged in no other transactions in shares of
Common Stock.</font></div>
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        <div>
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6.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Contracts,
Arrangements, Understandings or Relationships With Respect to Securities of
the&#160;&#160;Issuer.</font></div>
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          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
Schwan is not a party to any contract, arrangement, understanding or
relationship with any other person with respect to shares of Common Stock,
including but not limited to transfer or voting of any of the securities,
finder&#8217;s fees, joint ventures, loan or option arrangement, puts or calls,
guarantees of profits, divisions of profits or loss, or the giving or
withholding of proxies.</font></div>
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7.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Material to be Filed
as Exhibits.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Signature</font></font></div>
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reasonable inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and
correct.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      </div>
    </div>
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            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td colspan="2" valign="top" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">February
      17, 2009</font></td>
            <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td colspan="2" valign="top" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date</font></td>
            <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="3%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:
      </font></div>
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            <td align="left" nowrap valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">John
      H. Schwan</font></font></td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: #ffffff solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td align="left" nowrap valign="bottom" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">John
      H. Schwan</font></div>
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