For release June 17, 2008

Contacts: Diane Lancaster Gibes, Kummer Kaempfer Bonner Renshaw & Ferrario,
702-792-7024 or dgibes@kkbrf.com, Jackie Brown, Susan G. Komen for the Cure, 702.822.2324 or director@komensouthernnevada.org

Jennifer Lazovich Elected to the Board of Directors
of Susan G. Komen for the Cure’s Southern Nevada Affiliate

LAS VEGAS – Susan G. Komen for the Cure, the world’s largest grassroots network of breast cancer survivors and activists, recently appointed Jennifer Lazovich, an attorney with Kummer Kaempfer Bonner Renshaw & Ferrario (Kummer Kaempfer), to the Board of Directors of its Southern Nevada Affiliate. Lazovich will also assume the role of public policy chair in which she will help guide the local advocacy efforts in the fight to end breast cancer.

Lazovich will serve a two-year term for the Southern Nevada Affiliate which serves Clark, Nye, Lincoln, and Esmeralda counties.

Rachelle Crupi, president of the Susan G. Komen Southern Nevada Affiliate’s Board of Directors, said “We are delighted to welcome Jennifer as a member of the board and feel very fortunate to have someone with her dedication and commitment to women’s health issues join us in our continuing journey to eradicate breast cancer. Her leadership and advocacy skills will help advance our overall mission of finding a cure and reinforce the importance of awareness, education, and early detection.”

A native Nevadan, Lazovich is a partner of Kummer Kaempfer and works in the government and legislative affairs practice. She is active in several community organizations and provides pro bono legal services for Nevada Partners, a community-based, non-profit organization that provides education, employment and training services to youth, adults and dislocated workers. She also worked to expand the operations of the Huntridge Teen Clinic, a nonprofit medical and dental clinic that serves uninsured or at-risk youths ages 12 to 18 at no or extremely low cost.

Lazovich is a 2004 graduate of Leadership Las Vegas and a 2008 recipient of the prestigious 40 under 40 award by In Business Las Vegas. She is a member of the North Las Vegas Chamber of Commerce and a member of the North Las Vegas 2020 Visioning Committee. She also serves on the Nevada Secretary of State’s Help America Vote Act Advisory Committee.

She received her Bachelor of Arts degree from the University of Southern California and her law degree from Southwestern University School of Law in Los Angeles.

Prior to joining the firm, Ms. Lazovich worked in Washington, D.C. in the finance division of the National Republican Senatorial Committee. She also served internships in the Washington, D.C. office of United States Senator Harry Reid and the elections division of the Nevada Secretary of State’s Office. While in law school, Ms. Lazovich gained trial experience in the juvenile division of the Los Angeles District Attorney’s Office.

The Southern Nevada Affiliate (www.komensouthernnevada.org) of Susan G. Komen for the Cure, along with those who generously provide support through their talent, time and resources, is working to better the lives of those facing breast cancer in our community. The Southern Nevada Affiliate joins more than 100,000 breast cancer survivors and activists around the globe and is part of the world’s largest and most progressive grassroots network fighting breast cancer. Through events like the Komen Southern Nevada Race for the Cure®, the Affiliate is able to invest in local breast health and breast cancer awareness projects in the Las Vegas area. Up to 75 percent of net proceeds generated by the Affiliate stay in Southern Nevada while the remaining income goes to Susan G. Komen for the Cure Award and Research Grant Programs supporting research, awards and educational and scientific programs around the world.

Kummer Kaempfer is a prominent force in Nevada, serving local, regional, national and international clients in the real estate development, hospitality, gaming, manufacturing, service, high-technology, and energy and utilities industries. Founded in 1994, Kummer Kaempfer is one of Nevada’s largest law firms, specializing in complex corporate transactions, federal and state securities matters, commercial litigation, zoning and land use and regulatory law.

With offices in Las Vegas, Reno and Carson City, Kummer Kaempfer’s lawyers provide counsel to top corporations, business owners, corporate executives and individuals. Kummer Kaempfer is the Las Vegas member of Meritas, an affiliation of outstanding business law firms that serve international customers worldwide. The firm’s attorneys are routinely rated among the best corporate, mergers and acquisitions, real estate and litigation lawyers in Nevada, including high-ranking recognition by the prestigious “Chambers USA – America’s Leading Business Lawyers” since its inception in 2003. For more information about Kummer Kaempfer, call (702) 792-7000 or visit www.kkbrf.com. Kummer Kaempfer Bonner Renshaw & Ferrario, Ltd., is a Nevada professional corporation.

For release June 17, 2008

Contacts: Diane Lancaster Gibes, Kummer Kaempfer Bonner Renshaw & Ferrario, (702) 792-7000 or dgibes@kkbrf.com

Chambers USA ranks eight Kummer Kaempfer lawyers as leaders in gaming, corporate law, litigation and real estate/zoning and land use

Michael Bonner, John Brewer, Mark Ferrario, Mark Fiorentino, Robert Gronauer Christopher Kaempfer, Neal Klegerman and Thomas Kummer recognized

LAS VEGAS – Chambers USA 2008 – America’s Leading Lawyers for Business has named Kummer Kaempfer Bonner Renshaw & Ferrario (Kummer Kaempfer) attorneys Michael Bonner, John Brewer, Mark Ferrario, Mark Fiorentino, Robert Gronauer, Christopher Kaempfer, Neal Klegerman and Thomas Kummer among the best lawyers in their fields in its annual ranking released June 13. Kummer Kaempfer was also ranked as a leading firm in the practice areas of gaming and licensing, corporate and commercial law, general commercial litigation and real estate/zoning and land use law.

Michael Bonner, managing partner; John Brewer, senior partner; and Neal Klegerman, of counsel; were named leading lawyers for corporate and commercial law. Partners Mark Ferrario and Thomas Kummer were recognized as leading lawyers in general commercial litigation. Partners Mark Fiorentino, Robert Gronauer and Christopher Kaempfer were named leading lawyers for real estate, zoning and land use law. Bonner was also recognized as a leading lawyer in gaming and licensing.

“We are pleased to receive recognition this year for an additional practice area,” said Bonner. “We are also honored that two of our attorneys attained this leading industry ranking for the first time. It’s especially gratifying since the rankings are based on the opinions of our clients and our peers and colleagues in the legal profession. We’re very proud to be listed alongside some of the largest law firms in the country,” he added.

Published annually, Chambers and Partners (www.chambersandpartners.com) are the publishers of the world-famous guides to law firms and lawyers, including Chambers Europe, Chambers UK, Chambers USA, Chambers Global, Chambers Asia and Chambers Student. For the current U.S. directory, more than 14,000 interviews were conducted covering the entire country. They were carried out by a team of 40 full-time researchers over a period of six months.

Rankings are based on technical legal ability, professional conduct, client service, commercial awareness/astuteness, diligence, commitment and other qualities most valued by the client. Editorial comment is also derived from the research, with quotations used when they sum up the prevailing opinion of the market.

The top firms and top attorneys are ranked and their merits are usually described in the words of clients who were interviewed by the publication. According to Chambers, it is the weight of client interviews that gives the guides their highly valued reliability.

The methodology has been approved by the British Market Research Bureau, which audits the research annually. In-depth interviews with clients and attorneys are done over the telephone, each one lasting about half an hour.

Kummer Kaempfer is a prominent force in Nevada, serving local, regional, national and international clients in the real estate development, hospitality, gaming, manufacturing, service, high-technology, and energy and utilities industries. Founded in 1994, Kummer Kaempfer is one of Nevada’s largest law firms, specializing in complex corporate transactions, federal and state securities matters, commercial litigation, zoning and land use and regulatory law.

With offices in Las Vegas, Reno and Carson City, Kummer Kaempfer’s lawyers provide counsel to top corporations, business owners, corporate executives and individuals. Kummer Kaempfer is the Las Vegas member of Meritas, an affiliation of outstanding business law firms that serve international customers worldwide. The firm’s attorneys are routinely rated among the best corporate, mergers and acquisitions, real estate and litigation lawyers in Nevada, including high-ranking recognition by the prestigious “Chambers USA – America’s Leading Business Lawyers” since its inception in 2003. For more information about Kummer Kaempfer, call (702) 792-7000 or visit www.kkbrf.com   Kummer Kaempfer Bonner Renshaw & Ferrario, Ltd. is a Nevada professional corporation.

Casino Tax News: Casino’s Complimentary Meals Are Not Subject to Sales or Use Tax.

On March 27, 2008, the Nevada Supreme Court ruled that complimentary meals provided to patrons and employees of casinos are not subject to Nevada’s sales tax or use tax. Prior to this holding, casinos were required to pay “use tax” on complimentary meals. Below is a summary of the court’s opinion.

Nevada imposes a sales tax on the “retail sale of tangible personal property . . . .” When an item “escapes” sales tax, Nevada law imposes a use tax when the item is used, stored or consumed. Article 10, Section 3(A) of the Nevada Constitution provides for an exemption of “food for human consumption” from sales or use taxes. However, excluded from the definition of “food for human consumption” is “[p]repared food intended for immediate consumption.” The same types of provisions are found in NRS 372.284 and NRS 374.289. Prior to this decision, the casino, Sparks Nugget, Inc. (the “Casino”) paid no sales tax for its initial purchase of the food, but was required to pay a use tax when the food was complimentarily served to patrons or employees.

The court held that the initial purchase of food by the Casino was properly exempt from sales tax as “food for human consumption” that was not “prepared food intended for immediate consumption.” The later use of the food to provide complimentary meals was not subject to a use tax because the Casino’s “‘use’ did not follow an otherwise taxable purchase that had ‘escaped’ sales tax liability.” The Casino did not “escape” liability; rather, the Casino was “exempt” from liability. Nevada’s Constitution clearly “exempts all food for human consumption” unless the food is “‘prepared food intended for immediate consumption’ at the time it was sold.”

The court pointed out that the Casino is entitled to a refund for taxes paid on the complimentary meals in question. A copy of the opinion may be found on the Nevada Supreme Court’s website at http://www.nvsupremecourt.us/documents/advOpinions/124NevAdvOpNo15.html.

Questions or Additional Information
With questions or requests for additional information, please contact Eric Willis at 702.792.7000 or ewillis@kkbrf.com or John Brewer at 702.792.7000 or jbrewer@kkbrf.com.

Our client alerts are intended for informational purposes only. Nothing in this client alert is to be considered as either creating an attorney-client relationship between the reader and Kummer Kaempfer or as rendering of legal advice. Readers are responsible for obtaining such advice from their own legal counsel.

No client or other reader should act or refrain from acting on the basis of any information contained in this client alert without seeking appropriate legal or other professional advice on the particular facts and circumstances at issue.

Recent Changes to the Probate Code are an even better reason to have a Will or Trust. In their absence your estate may go to nieces and nephews in greater shares than you might expect.

Changes made to Nevada law during the last Nevada Legislative Session include a change to NRS 134.060 for people that die without a Will or Trust, and are not survived by parents or offspring. In such cases, the Nevada laws on intestate succession (i.e. death without a Will or Trust) dictate how the estate is to be distributed.

Prior to the law change, the estate would be distributed to the brothers or sisters of the decedent in equal shares. If any of those brothers or sisters had died first, but left heirs, then the share that would have gone to the deceased brother or sister would be divided equally among the heirs of that brother or sister. It would not affect the shares given to the living brothers or sisters. The principle of transferring the share to living heirs is known as receiving an estate “per stirpes,” or commonly in statutes, by “right of representation.”

In a simple example, suppose Joe died with no spouse, no children (no offspring) and no living parents, Joe’s siblings – Mable, Lucy and Jake would each take one-third. If Mable were predeceased, but had four kids, her kids would share Mable’s one-third.

However, NRS 134.060 was amended by Senate Bill 420 and the language “right ofrepresentation” was changed to “in equal shares, per capita”. Per capita means that all eligible recipients get an equal share. So in our example above, the estate would be split in six equal shares; one for Lucy, one for Jake, and one for each of Mable’s four kids reducing Joe’s siblings, Lucy and Jake’s share in half in favor of Joe’s nieces and nephews.

The Legislature has changed the effective distribution scheme among Joe’s siblings from one-third, one-third, one-third, to one-sixth, one-sixth, two-thirds. It is very unlikely that a person would intentionally designate their estate to go this way.

The stated intent of the proponents of SB 420 was simply to cut off the distribution of the estate at the niece and nephew level. The changed statute does do that, but it also, perhaps unintentionally, changes the percentages that each beneficiary receives. In reviewing the legislative testimony, it appears that the bill proponents did not realize that this change was being made as their examples to the legislative committee did not follow the plain language of the change to NRS 134.060. However, their intent is of little consequence since Courts do not look to legislative intent unless the language is
ambiguous. Here the language is not ambiguous. Indeed, a senior judge with over 30 years of experience presiding over estate matters confirmed that the language would not be read by him as ambiguous and thus would result in the six-way split in the above example.

There are other results under intestate succession that most people would not expect. For example if Joe had died leaving a spouse and four children, would you have guessed that his estate is split one-third to his spouse and two-thirds split equally among his children? Probably not.

What is the best course to take? Execute a Last Will and Testament, or better still, avoid the costs of probate by creating a Trust. Even the most simple of estate planning would avoid these problems and a host of others that the law dictates for those without Wills or without Trusts.

Questions or Additional Information
With questions or requests for additional information, please contact Steve Tackes at 775.884.8300 or stackes@kkbrf.com; Steve Pacitti at 702.792.7000 or spacitti@kkbrf.com; Alexis Michaud at 702.792.7000 or amichaud@kkbrf.com.

Our client alerts are intended for informational purposes only. Nothing in this client alert is to be considered as either creating an attorney-client relationship between the reader and Kummer Kaempfer or as rendering of legal advice. Readers are responsible for obtaining such advice from their own legal counsel.

No client or other reader should act or refrain from acting on the basis of any information contained in this client alert without seeking appropriate legal or other professional advice on the particular facts and circumstances at issue.

This alert is to advise clients of the Firm of the impending major updates to several Land Use Plans
in Clark County. As you know, Clark County is divided into planning areas. The land use map
for each planning area generally defines in broad categories the uses for land within that planning
area. Major updates to each planning area are done approximately every five years. The major update
process gives land owners the opportunity to request a change to the land use category currently
assigned to its property. It is important to note that a moratorium against nonconforming zone
changes will be imposed for two years after ratification of the major amendments to the land use
plans.

Presently, the County is in the process of a major update to theLoneMountainplanning
area. This planning area is generally located in the northwest part of the Las Vegas Valley along US
95 and shown in more detail here.

A community workshop regarding the major update to the Lone Mountain land use plan was held Tuesday,
March 4, 2008 from 5-8 pm at Mountain Crest Community Center. The March 4thcommunity workshop
unveiled the draft plan and residents and property owners were permitted to offer comments and suggestions
to the draft plan. There will be one additional community workshop and then the plan will be considered
through the public hearing process.

The public hearing process includes the following steps:

1. Review, comment and recommendation by the Lone Mountain Citizens
2. Advisory Council
3. Review, comment and recommendation by the Clark County Planning Commission
4. Review, comment and vote by the Clark County Board of County Commissioners
5. Confirmation by the Clark County Planning Commission

In addition to the Lone Mountain planning area, the County has commenced with a major update to the
land use plan for the South County planning area. This planning area is generally located in the
southeastern part of the County and shown in more detail by clicking on this link- http://gisgate.co.clark.nv.us/gisplot_pdfs/cp/scplu.pdf.

The South County planning area includes Sloan, Sandy Valley, Goodsprings, Jean, Stateline (Primm),
Nelson, Searchlight and CalNevAri. The update to the South County planning area is not as far along
in the process as Lone Mountain. The County is working on the draft plan and in the near future will
commence with community workshops. A community workshop will be held in Searchlight, in Boulder City
and at the Clark County Government Center.

In the summer of 2008, the County will commence with a major update to the land use plan for the Enterprise
planning area. This planning area is generally located in the southwest part of the Las Vegas Valley along I 15, I 215 and SR 160 (Blue Diamond) and shown in more detail by clicking here.
The process will follow the same steps as the Lone Mountain plan, with the exception of the location of the community workshops and the Enterprise Town Board reviewing, commenting and making a recommendation on the updated plan to the Clark County Planning Commission.

If you own property in any of these planning area and you are interested in requesting a change to the current land use plan category for your property, please contact our office to set up an appointment to discuss this matter further. Please contact us by telephone at (702) 792-7000.

LAS VEGAS – Tara K. Young, an attorney with the statewide law firm Kummer Kaempfer Bonner Renshaw & Ferrario (Kummer Kaempfer), has been named “2007 Member of the Year” by the Commercial Real Estate Women of Las Vegas (CREW).

Young joined CREW in 2006 and serves on its special event committee. She spent the
past year raising funds for the organization’s annual fundraiser gala, “CREWS’n the Night
Away,” which was held in September 2007 to benefit Las Vegas’ Girl Scouts of Frontier Council, Inc. CREW selected Young for the prestigious honor, in part, due to her success in
raising $13,000 in sponsorships for the event.

As “member of the year,” Young will represent the Las Vegas chapter at CREW’s national convention to be held in Houston, Texas in October 2008.

Young joined Kummer Kaempfer March 2004. Her practice concentrates on all areas of
commercial real estate transactions, including the purchase and sale of real property, real estate
financing, commercial leases and condominium development.

“We see Tara’s dedication to the real estate industry every day, so we are very pleased to
see her recognized for her accomplishments by this esteemed organization,” said Michael J.
Bonner, managing partner of Kummer Kaempfer. “When Tara commits to something, she
delivers. All of us at Kummer Kaempfer are extremely proud of Tara and believe this is just the
beginning of a very successful relationship with CREW.”

CREW is a membership organization focused on promoting professional opportunities
and business relationships for women in the commercial real estate industry. It aims to further
the professional development of women in all phases of commercial real estate and encourage
the recognition and advancement of women in commercial real estate.

Kummer Kaempfer is a prominent force in Nevada, serving local, regional, national and international clients in the real estate development, hospitality, gaming, manufacturing, service,
high-technology, and energy and utilities industries. Founded in 1994, Kummer Kaempfer is one
of Nevada’s largest law firms, specializing in complex corporate transactions, federal and state
securities matters, commercial litigation, zoning and land use and regulatory law.

With offices in Las Vegas, Reno and Carson City, Kummer Kaempfer’s lawyers provide
counsel to top corporations, business owners, corporate executives and individuals. Kummer
Kaempfer is the Las Vegas member of Meritas, an affiliation of outstanding business law firms
that serve international customers worldwide. The firm’s attorneys are routinely rated among the
best corporate, mergers and acquisitions, real estate and litigation lawyers in Nevada, including
high-ranking recognition by the prestigious “Chambers USA – America’s Leading Business
Lawyers” since its inception in 2003. For more information about Kummer Kaempfer, call (702)
792-7000 or visit www.kkbrf.com. Kummer Kaempfer Bonner Renshaw & Ferrario, Ltd. is a
Nevada professional corporation.

CARSON CITY – Governor Jim Gibbons has appointed Severin (“Sev”) A. Carlson, an attorney with Kummer Kaempfer Bonner Renshaw & Ferrario (Kummer Kaempfer), to the Nevada Certified Court Reporters Board, which regulates and controls the practice of court reporting.

A native Nevadan, Carlson works in Kummer Kaempfer’s Reno office where he handles commercial and business litigation with a focus on shareholder, construction, property and water disputes. He is an active member of the State Bar of Nevada, a requirement that a practicing attorney must meet to serve on the five-person Board. Carlson’s term runs from November 1, 2007, to October 31, 2010. He replaces outgoing chairman and lawyer Patrick J. Murphy.

The Board reports to the Governor and was established by the Nevada Legislature to oversee the practice of court reporting since the profession affects the public health, safety and welfare of Nevadans.

“We are very proud of Sev and believe he will be a tremendous asset to the Certified Court Reporters Board,” said James W. Puzey, managing partner of the firm’s Reno office. “Sev has always expressed an interest in public service, so this is an excellent opportunity for him to share his legal experience and fulfill his desire to serve the people of Nevada.”

In addition to litigation, Carlson’s practice area includes liquor licensing and energy/utility issues with various local government entities and administrative agencies within Nevada. Carlson is a member of the American Bar Association, the Clark County Bar Association, the Washoe County Bar Association and the Oregon State Bar.

Carlson received his Bachelor of Arts degree from The University of the South in Sewanee, Tennessee and his law degree from Willamette University College of Law in Salem, Oregon. He also holds a Certificate in Chinese Law through Willamette University College of Law and East China University of Politics and Law in Shanghai, PRC.

The mission of the Certified Court Reporters Board is to encourage proficiency in the practice of court reporting as a profession; promote efficiency in court and general reporting; and extend to the courts and public the protection afforded by a standardized profession by establishing a standard of competency for those engaged in it Kummer Kaempfer is a prominent force in Nevada, serving local, regional, national and international clients in the real estate development, hospitality, gaming, manufacturing, service, high-technology, and energy and utilities industries. Founded in 1994, Kummer Kaempfer is one of Nevada’s largest law firms, specializing in complex corporate transactions, federal and state securities matters, commercial litigation, zoning and land use and regulatory law.

With offices in Las Vegas, Reno and Carson City, Kummer Kaempfer’s lawyers provide counsel to top corporations, business owners, corporate executives and individuals. Kummer Kaempfer is the Las Vegas member of Meritas, an affiliation of outstanding business law firms that serve international customers worldwide.

The firm’s attorneys are routinely rated among the best corporate, mergers and acquisitions, real estate and litigation lawyers in Nevada, including high-ranking recognition by the prestigious “Chambers USA – America’s Leading Business Lawyers” since its inception in 2003. For more information about Kummer Kaempfer, call (702) 792-7000 or visit www.kkbrf.com. Kummer Kaempfer Bonner Renshaw & Ferrario, Ltd., is a Nevada professional corporation.

On November 15, 2007, the SEC announced that it had adopted three significant rule changes including the following:

• Expand the category of companies which are eligible for the more lenient disclosure rules and integrating those rules into the set of rules and forms used by larger reporting companies.
• Shorten the holding period for resales of restricted securities under Rule 144 to six months from one year for reporting companies, allowing non-affiliates of reporting companies to resell after a six month holding period (subject only to the issuer satisfying the current public information requirement of Rule 144(c)), allowing non-affiliates of non-reporting companies to resell restricted securities without restriction after a one year holding period rather than the current two year period, and raise the threshold for affiliates filing Form 144 to 5,000 shares or $50,000 up from $10,000 or 500 shares.
• Provide an exemption from registration under the Securities Exchange Act of 1934 (but not the Securities Act of 1933) for compensatory employee stock options.

Small Business Issuers
The new rules replace the current “small business issuer” category which qualifies for the more lenient disclosure requirements with a new category of “smaller reporting companies.” The public float limit is increased to $75 million from $25 million.

Regulation S-B is eliminated and the disclosure rules moved into new sections Regulation S-K and Regulation S-X which will apply only to smaller reporting companies. The SB forms will also be phased out.

Rule 144 Amendments
Rule 144 is amended to shorten the holding period for restricted securities of reporting companies to six months from one year. In addition, non-affiliates of reporting companies can freely resell securities after a six month holding period subject only to the issuer satisfying the public information requirement of Rule 144(c). After one year, their resales are no longer subject to the public information requirement. Non-affiliates of non-reporting companies can also freely resell after a one year holding period.

These new holding periods are a substantial easing of the current requirements. The general holding period requirement for restricted securities was one year for affiliates and non-affiliates. After two years, non-affiliates could freely resell restricted securities. During the period between one year and two years, non-affiliates could resell but only subject to all of the requirements of Rule 144 including the volume limitations, manner of sale (i.e. brokers’ transactions), and filing of Form 144. One additional effect of the rule amendments is that non-affiliates will no longer be required to file Rule 144 because at the close of the applicable holding periods for non-affiliates, they can resell freely (subject only to the public information requirement for the six month holding period as discussed above).

Affiliates who resell restricted securities will remain subject to substantially the same requirements of Rule 144 as previously in effect, except, as noted above, affiliates of reporting companies can sell after a six month holding period and the following additional changes. The threshold for filing Form 144 is increased to 5,000 shares or $50,000 from 500 shares or $10,000. The manner of sale requirements for equity securities is revised and they are eliminated for debt securities and the volume limitations for debt securities are relaxed. Also, the resale provisions of Rule 145(d) (applicable to shares acquired in mergers and certain other corporate transactions) are revised.

Exemption of Compensatory Employee Stock Options from Registration under the Securities Exchange Act of 1934 (”Exchange Act”)
Amendments to Rule 12h-1 will provide an exemption from registration under Section 12(g) of the Exchange Act for compensatory employee stock options. Non-reporting companies which meet the thresholds for Exchange Act registration based on the number of holders of such options but not the number of stockholders will now be exempt from registration. Similarly, companies which are already reporting under the Exchange Act will not have to register compensatory employee stock options under the Exchange Act.

It is important to note that these exemptions are only applicable to registration under the Exchange Act. Registration under the Exchange Act typically subjects a company to the reporting requirements, proxy rules, Section 16, and various other requirements. However, the new rules do not affect the requirements of the Securities Act of 1933. The issuance of the options and the offer and sale of the underlying stock must either be registered or qualify for an exemption from registration under the Securities Act of 1933.

Effective Dates
The effective dates of the new rules are as follows:

Small Business Issuers—30 days after publication in the Federal Register

Rule 144—60 days after publication in the Federal Register

Employee Stock Options—upon publication in the Federal Register

Explanatory Note
This alert is only a simplified overview and not a comprehensive description of the new rules. In addition, the full text of the releases adopting these rules including the text of the rules is not yet available and it likely will affect the information provided in this alert.

Questions or Additional Information
With questions or requests for additional information, please contact Neal A. Klegerman at 702.792.7025 or nklegerman@kkbrf.com; or John C. Jeppsen at 702.792.7000 or jjeppsen@kkbrf.com.

Our client alerts are intended for informational purposes only. Nothing in this client alert is to be considered as either creating an attorney-client relationship between the reader and Kummer Kaempfer or as rendering of legal advice. Readers are responsible for obtaining such advice from their own legal counsel.

No client or other reader should act or refrain from acting on the basis of any information contained in this client alert without seeking appropriate legal or other professional advice on the particular facts and circumstances at issue.

For release October 10, 2007
Contacts:

Diane Lancaster Gibes, Kummer Kaempfer Bonner Renshaw & Ferrario, (702) 792- 7000 or dgibes@kkbrf.com

Dawn Christensen, Brown & Partners, (702) 967-2222 or dchristensen@brownpartners.com

LAS VEGAS – James (Jim) Smyth, a partner with the statewide law firm Kummer Kaempfer Bonner Renshaw & Ferrario (Kummer Kaempfer), has been appointed to the Blind Center of Nevada’s Board of Directors where he will assist the nonprofit in expanding public awareness, community involvement and employment opportunities for its clients.

The appointment follows more than a year and half of Smyth’s pro bono services to the nonprofit. Kummer Kaempfer has provided complimentary legal advice to the Blind Center of Nevada for several years as a result of long standing relationships between leaders of both organizations.

“The Blind Center has been strengthened by Jim’s legal advice and expertise due to the generosity of Kummer Kaempfer,” said Ronnie Wilson, president and chief executive officer of the Blind Center of Nevada. “The Blind Center will now benefit from his increased commitment to help serve the often over looked community of people dealing with vision loss. We arehonored to welcome Jim as he joins our dedicated board of community-minded business leaders. As the remarkable Helen Keller once said, ‘Alone we can do so little, together we can do so much.’”

The Blind Center of Nevada offers programs and activities, both on and off-site, that encourage independence and improve the quality of life for individuals with visual limitations. Smyth’s involvement with the nonprofit became more personal recently when his mother had an accident that caused her to become blind. Smyth’s mother has become a member at the Blind Center of Nevada and was recently inspired to take her first yoga class.

“It’s an amazing organization that provides services and information aimed at helping people become more self-reliant and confident,” said Smyth. “It is comforting to know there is a place like the Blind Center here in Southern Nevada that can help my mother and so many others cope with a life-changing experience and provide them with a variety of services whether recreational or vocational.”

One of Smyth’s first priorities as a board member is to promote and further develop the agency’s revenue generating operations such as its computer recycling business and its holiday gift basket sales.

“It’s inspiring to see the difference the Blind Center makes through products and services it sells,” Smyth said. “These programs generate additional funding but more than that they provide career development, vocation rehabilitation as well as emotional support and friendships that some clients might not receive otherwise.”

Smyth is a native Nevadan who began as an associate at Kummer Kaempfer after being admitted to the State Bar of Nevada in 1997. His practice encompasses primarily construction, commercial litigation, real estate and land use and zoning entitlement litigation matters.

The Blind Center of Nevada is a non-profit organization dedicated to assisting blind and visually impaired persons of all ages in reaching their highest physical, social, intellectual, and economic potential. More information on the Blind Center of Nevada can be found at www.blindcenter.org.

Kummer Kaempfer is a prominent force in Nevada, serving local, regional, national and international clients in the real estate development, hospitality, gaming, manufacturing, service, high-technology, and energy and utilities industries. Founded in 1994, Kummer Kaempfer is one of Nevada’s largest law firms, specializing in complex corporate transactions, federal and state securities matters, commercial litigation, zoning and land use and regulatory law.

With offices in Las Vegas, Reno and Carson City, Kummer Kaempfer’s lawyers provide counsel to top corporations, business owners, corporate executives and individuals. Kummer Kaempfer is the Las Vegas member of Meritas, an affiliation of outstanding business law firms that serve international customers worldwide. The firm’s attorneys are routinely rated among the best corporate, mergers and acquisitions, real estate and litigation lawyers in Nevada, including high-ranking recognition by the prestigious “Chambers USA – America’s Leading Business Lawyers” since its inception in 2003. For more information about Kummer Kaempfer, call (702) 792-7000 or visit www.kkbrf.com. Kummer Kaempfer Bonner Renshaw & Ferrario, Ltd. is a Nevada professional corporation.

LAS VEGAS – The 2008 edition of The Best Lawyers in America® has selected Kummer Kaempfer Bonner Renshaw & Ferrario (Kummer Kaempfer) as the state’s top law firm for land use and zoning law. The esteemed publication named Thomas D. Amick, Michael J. Bonner, John N. Brewer, Robert L. Crowell, Kathleen M. Drakulich, Mark H. Fiorentino, Robert J. Gronauer, Christopher L. Kaempfer, Thomas F. Kummer and Steven E. Tackes as the best in their fields.

Four attorneys were honored individually as top lawyers for zoning and land use law. Partners Chris Kaempfer, Mark Fiorentino, Robert Gronauer and Thomas Amick received this distinction. In addition, Kaempfer was recognized as a leading lawyer in government relations and real estate law. Fiorentino was also acknowledged for being among the best in government relations law.

“Being recognized by our peers and colleagues as the leading firm in Nevada for land use and zoning law is a great honor,” said Michael Bonner, managing partner of Kummer Kaempfer. “We are extremely proud of the results our land use and zoning team has achieved over the years and across the state for our clients, and we appreciate the national recognition of our firm’s expertise.”

Michael Bonner was recognized as a leading lawyer in two areas: Corporate law and mergers and acquisitions law.

Thomas Kummer, a partner, was named as a top attorney in commercial litigation.

Partners Robert Crowell, Kathleen Drakulich and Steven Tackes, who is Of Counsel, were selected as the best attorneys practicing energy law. Crowell was also recognized for his work in government relations law.

John Brewer, a partner, was named as one of the leading lawyers for corporate law.

“From our growing energy practice to our established corporate, commercial litigation and government relations divisions, it’s gratifying to see a diverse group of attorneys from Kummer Kaempfer acknowledged for providing exceptional counsel and specialized legal proficiency,” said Bonner. “Kummer Kaempfer strives to be the very best in all we do.”

Inclusion in Best Lawyers is based entirely on peer review. The publication has been a leading referral guide in the legal industry for 25 years. The print edition of The Best Lawyers in America 2008 is scheduled to be released in December 2007.

Best Lawyers compiles lists of outstanding attorneys by conducting exhaustive peer-review surveys in which thousands of leading lawyers confidentially evaluate their professional peers. A lawyer can be nominated to Best Lawyers in several ways. All of the lawyers in the previous edition of Best Lawyers are automatically nominated into the next edition and voting lawyers are asked to nominate lawyers who have not yet been nominated. Best Lawyers then contacts all attorneys in each state and asks them to vote on the nominees by answering the same question, “If you could not handle a case yourself, to whom would you refer it?”

The 14th edition of The Best Lawyers in America (2008) was based on more than two million detailed evaluations of lawyers by other lawyers and included over 33,500 attorneys in 78 specialties, covering all 50 states and the District of Columbia. More information can be found at www.bestlawyers.com.

Kummer Kaempfer is a prominent force in Nevada, serving local, regional, national and international clients in the real estate development, hospitality, gaming, manufacturing, service, high-technology, and energy and utilities industries. Founded in 1994, Kummer Kaempfer is one of Nevada’s largest law firms, specializing in complex corporate transactions, federal and state securities matters, commercial litigation, zoning and land use and regulatory law.