Jim Carolan is a principal in Carolan & Company, a business development consultingfirm. He has over thirty years of managerial and executive experience with Johnson & Johnson, Union Carbide and Lydall, Inc. Most recently, he has participated in managing a bankrupt specialty paper manufacturer through the Chapter 11 process. Stewart Milne comments "We are delighted that Jim has decided to join Penman Strategic Inc at possibly the most exciting period of our development in history