February 1, 2009 — Charles Hahn, Managing Principal of Baker Newman Noyes, is pleased to announce the promotion of Karl A. Heafield to Managing Principal of the firm's Manchester, New Hampshire office as of February 1, 2009.

Joseph A. Lovejoy, Managing Principal of the Manchester office since its opening in 1999, will assume a business development role in the firm and continue representing BNN in his numerous community service activities. Joe will also spend time developing the next generation of leaders of the firm.

Joe has been with BNN and our predecessor firms for nearly 40 years, first in Portland, Maine then opening the Manchester, New Hampshire office in 1999. Under Joe's leadership, the office has expanded from three people to over 40 today. This increase reflects the client growth and relationship development that Joe has also fostered. Joe has cultivated an excellent and cohesive team of professionals, and he has devoted himself to service to the community and the state.

In announcing the transition, Charlie Hahn stated: "Joe's leadership in Manchester has been vital to BNN's growth and success. His focus on our people, unmatched client service and constant improvement reflects the firm's mission and values. Karl brings a continued enthusiasm and entrepreneurial spirit to the position, and I am confident he will meet the expectations of our strategic initiatives and help ensure our future growth and success in New Hampshire."

Karl Heafield joined Baker Newman Noyes in 2004 after working for many years with a large international firm in Boston. He earned a Bachelor of Science degree in Accountancy and a Master of Science degree in Taxation from Bentley University in Waltham, MA. Karl is also a graduate of the Greater Manchester (NH) Chamber of Commerce Leadership Program. Karl is a principal in the firm's Tax Division and will continue to serve his clients in the areas of corporate tax planning and compliance, mergers and acquisitions, FAS 109 and FIN 48.

Karl is very active in the accounting profession in the State of New Hampshire. He is the NHSCPA Tax Committee Chair. In this role, he helped develop and organize the Annual Tax Forum. Karl is also a member of the Business and Industry Association (New Hampshire's State Chamber of Commerce) Fiscal Policy Committee; he recently won the "Above and Beyond" award form the Business and Industry Association for his work on legislation concerning the New Hampshire Compensation Deduction. He is also very involved in community service — demonstrating the values that make our firm strong.

He assumes the leadership of BNN's Manchester, New Hampshire office at a time when the firm is defining our strategy for the future. This includes a strong focus on the New Hampshire market. About his new role, Karl said:

"I am very excited about this opportunity and I look forward to serving the principals and employees of the firm in order to continue providing excellent service to our clients and opportunities for our people."