Strong Board Governance or More Government?

Minnesota's Outstanding Director - Lifetime Achievement Award Winner Says
Corporate Directors Must Act Now

MINNEAPOLIS, Oct. 30 /PRNewswire/ -- The failure of corporate leaders to
properly regulate themselves threatens the feasibility of capitalism and our
free-market society, says Mark W. Sheffert, Chairman and CEO of Manchester
Companies, Inc., and last night's honoree of the Outstanding Director -
Lifetime Achievement Award sponsored by the National Association of Corporate
Directors and Twin Cities Business at their annual Outstanding Directors
recognition event.

The most deep-seated problem facing our country is not the lack of government
regulation or capable corporate management, says Sheffert. Rather, the problem
is corporate leaders neglecting to perform with integrity, common sense, and
personal accountability. "If we don't demonstrate leadership now, the
government will awaken like a sleeping giant and take the reins, which
eventually will stifle American innovation," said Sheffert. "The time to act
is now," he added.

Sheffert was given the Lifetime Achievement Award for his service on 42 boards
including BNC BANCORP, Health Fitness, Mesaba Airlines, Angeion, and
Benedictine and Allina Health Systems.

"Nobody has an easy answer to what went wrong with Wall Street, the banking
industry, and the auto industry, but in many of the highly publicized
corporate governance failures, an accountable, engaged, and well-informed
board of directors would have probably been able to prevent full-scale
crisis," said Sheffert.

SOURCE Manchester Companies, Inc.

Tana DeBoer, Communications Manager of Manchester Companies, Inc.,
+1-651-343-9951, tana.deboer@manchestercompanies.com