Kapson names Raymond DioGuardi chief financial officer

Business Wire, Jan 15, 1997

WOODBURY, NY--(BUSINESS WIRE)--Jan. 15, 1997--Kapson Senior Quarters Corp. (NASDAQ, NMS: KPSQ), an owner, manager and operator of premium assisted living facilities in the Northeast U. S., announced today that Raymond DioGuardi, 41, a CPA with extensive corporate financial management experience, has joined Kapson as chief financial officer, replacing John M. Sharpe, Jr.

DioGuardi was most recently senior vice president of finance and CFO of Dataflex Corporation, a public company previously based in Edison, NJ, that sells computer hardware and related services. At Dataflex, DioGuardi improved the company's internal and external financial reporting process, developed a restructuring plan designed to raise $25 million in debt and equity, secured an increase in the credit facility and helped negotiate and manage the sale of the company's Western and Northeastern Regional Operations.

From 1989 to 1994, DioGuardi was vice president of finance, CFO and secretary of Nathan's Famous, Inc., where he was responsible for accounting, investor relations, insurance, administration and data processing. He began his career in 1977 at the accounting firm of Price Waterhouse, where he became a senior manager with responsibility for planning, coordinating and executing financial audits and special projects for major corporate clients.

DioGuardi is a member of the American Institute of Certified Public Accountants and the New Jersey State Society of CPAs; a member and former chapter vice president of the Institute of Management Accountants; and a former director of the Apple Institute. He is a 1977 graduate of Rutgers University, with a B. A. degree in Business and has been a Certified Public Accountant in New Jersey since 1979.

Glenn Kaplan, chairman and chief executive officer of Kapson, said, "DioGuardi brings to Kapson a wealth of valuable experience in financial issues that are important to the company as we implement our long-term strategies for controlled profitable growth, and communicate our progress to the financial community."

Kapson Senior Quarters Corp. currently operates 15 assisted living facilities with a total of 1,623 units in New York, New Jersey, Connecticut and Pennsylvania. Total capacity of all facilities can accommodate approximately 2,400 residents with full, stabilized facilities operating at a 98 percent occupancy rate over the past five calendar years.

CONTACT: L.B. Stauffer

Tom Gibson, Media Consultant

Porter, Le Vay & Rose, Inc.

(212) 564-4700

or

Glenn Kaplan

Kapson Senior Quarters Corp.

(516) 921-8900, Ext. 25