Michael W. and Caroline P. Huber et al. - Page 5

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          descendants of J.M. Huber, their spouses, their children, trusts            
          whose beneficiaries are such persons, and the Huber Foundation.             
          The bylaws also authorize shareholders to sell to independent               
          nonprofit organizations after obtaining a waiver from the board.            
          E&Y Report                                                                  
               Since 1993, Huber has retained E&Y to prepare a valuation of           
          Huber, and its determination is reviewed each year by the chair             
          of Huber’s audit committee.  E&Y does not perform any other                 
          auditing functions for Huber.  E&Y has used a consistent                    
          methodology for valuing Huber shares, which is comparing Huber to           
          comparable publicly traded companies.  E&Y applies a 50-percent             
          lack of marketability discount from the freely traded value of              
          the shares.  Although shareholders are not generally sent copies            
          of the E&Y reports, the reports are available for inspection by             
          Huber shareholders.  The E&Y reports were used for the following            
          valuation purposes by Huber and its shareholders:  (1) Valuing              
          gifts of Huber shares made to nonprofit organizations; (2)                  
          valuing both the grant and exercise of stock options issued to              
          Huber’s CEO; (3) fixing the compensation of Huber’s board                   
          members; (4) evaluating the performance of Huber as a whole; and            
          (5) valuing shares that are bought back by Huber from its                   
          shareholders.  No one at Huber ever indicated what value or                 









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