Statement from the Hays Companies

We believe the allegations in the lawsuit referenced in a story in today's Star Tribune newspaper -- a lawsuit to which we are not a party -- are libelous and defamatory, and we intend to protect our name and our reputation vigorously with whatever means necessary.

The allegations that we are not licensed to perform services in Texas are simply false, as are other allegations contained in this disreputable lawsuit that refers to Hays Companies.

Laurie Coleman, who is fully and legally licensed to sell insurance in Minnesota, has been an Independent Contractor for Hays Companies since 2006.

We are pleased with her work, and we find any allegations that she accepted money for work she was not responsible for to be outrageous and contemptible.

Laurie Coleman receives no compensation related to the services we provide for our client Deep Marine Technology.

In the first half of 2007, we were retained to provide our risk management consulting services, and that work continues at this time.