----

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| x      | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934  |
|--------|----------------------------------------------------------------------------------------------------|
|   |                                                                                               |
|   | For      the quarterly period ended: March      31, 2008                                      |
|   |                                                                                               |
|   | OR                                                                                                 |
|   |                                                                                               |
| o      | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE      ACT OF 1934 |
|   |                                                                                               |
|   | For      the transition period from _______________ to      _______________                   |

| Delaware                                     |   | 72-0888772               |
|----------------------------------------------|--------|--------------------------|
| (State or other      Jurisdiction of         |   | (I.R.S.      Employer    |
| Incorporation or      Organization)          |   | Identification      No.) |
|                                         |   |                     |
| 610      Jensen Beach Boulevard              |   |                     |
| Jensen Beach,      Florida                   |   | 34957                    |
| (Address of      Principal Executive Office) |   | (Zip      Code)          |

| Large accelerated      filer  ̈                                             |   | Accelerated      filer   ̈ |
|---------------------------------------------------------------------------------|--------|------------------------------------------|
| Non-accelerated      filer (Do not check if a smaller reporting company)  ̈ |   | Smaller reporting      company x         |

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|                                                                                                                                                                                        |                                                                                             | Page   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------|--------|
| Part      I.                                                                                                                                                                                | Financial Information                                                                            |   |   |   | 1 |   |
|         Item      1.                                                                                                                                |                                                                                             |   | Financial Statements |   |   |   | 1 |   |
|                 Consolidated Balance Sheets March 31, 2008 (unaudited) and      December 31, 2007 (audited) |                                                                                             |   |   | 1 |   |
|                 Consolidated Statements of Operations      (Unaudited)                                      |                                                                                             |   |   | 2 |   |
|                 Consolidated Statement of Cash Flows      (Unaudited)                                       |                                                                                             |   |   | 3 |   |
|                 Notes to Consolidated Financial    Statements                                               |                                                                                             |   |   | 4 |   |
|         Item      2.                                                                                                                                | Management’s Discussion and Analysis of Financial Condition      and Results of Operations |   |   |   | 6 |   |
|         Item      3.                                                                                                                                |                                                                                             |   | Quantitative and Qualitative Disclosures About Market      Risk |   |   |   | 9 |   |
|         Item      4.                                                                                                                                |                                                                                             |   | Controls and Procedures |   |   |   | 9 |   |
| Part      II.                                                                                                                                                                               | Other Information                                                                                |   |   |   | 10 |   |
|         Item      1.                                                                                                                                |                                                                                             |   | Legal Proceedings |   |   |   | 10 |   |
|         Item      1A.                                                                                                                               |                                                                                             |   | Risk Factors |   |   |   | 10 |   |
|         Item      2.                                                                                                                                |                                                                                             |   | Unregistered Sales of Equity Securities and Use of      Proceeds |   |   |   | 11 |   |
|         Item      3.                                                                                                                                |                                                                                             |   | Defaults Upon Senior Securities |   |   |   | 11 |   |
|         Item      4.                                                                                                                                |                                                                                             |   | Submission of Matters to a Vote of Security      Holders |   |   |   | 11 |   |
|         Item      5.                                                                                                                                |                                                                                             |   | Other Information |   |   |   | 11 |   |
|         Item      6.                                                                                                                                |                                                                                             |   | Exhibits |   |   |   | 11 |   |
| Signatures                                                                                                                                                                                  |                                                                                             |   |   |   |   |   | 12 |   |

----

Regency 

| Assets                                                       |   |                          |            |   |                           |   |
|--------------------------------------------------------------|--------|-------------------------------|-----------------|--------|--------------------------------|--------|
|                                                         |   | March 31,2008(Unaudited) |            |   | December 31,2007(Audited) |   |
| Current Assets                                               |   |                          |            |   |                           |   |
| Cash and cash      equivalents                               |   | $                             | 365,973         |   |                           | $      | 253,566 |   |
| Marketable    securities                                     |   |                          | 9,295,148       |   |                           |   | 9,782,234 |   |
| Interest receivable,      net of allowance of $644,109       |   |                          | -               |   |                           |   | - |   |
| Other current      assets                                    |   |                          | 338,723         |   |                           |   | 344,539 |   |
|                                                         |   |                          |            |   |                           |   |   |   |
| Total Current      Assets                                    |   |                          | 9,999,844       |   |                           |   | 10,380,339 |   |
|    Property,      plant and equipment, net    |   |                          | 12,159          |   |                           |   | 13,117 |   |
|           Investment in partnerships/LLC |   |                          | 10,251,762      |   |                           |   | 9,563,717 |   |
|      Deferred      tax asset        |   |                          |  1,245,500 |   |                           |   |  1,245,500 |   |
|           Other                          |   |                          | 1,300           |   |                           |   | 1,300 |   |
|                                                         |   |                          |            |   |                           |   |   |   |
| Total      Assets                                            |   | $                             | 21,510,565      |   |                           | $      | 21,203,973 |   |

| Liabilities      and Stockholders' Equity                                                                                           |   |   |       |   |   |   |
|-------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
|                                                                                                                                |   |   |       |   |   |   |
| Current      Liabilities                                                                                                            |   |   |       |   |   |   |
| Accounts payable and      accrued expenses                                                                                          |   | $      | 231,940    |   |   | $      | 391,651 |   |
| Income taxes      payable                                                                                                           |   |   | 8,000      |   |   |   | - |   |
| Total      Liabilities                                                                                                              |   |   | 239,940    |   |   |   | 391,651 |   |
|                                                                                                                                |   |   |       |   |   |   |   |   |
|                                                                                                                                |   |   |       |   |   |   |   |   |
| Stockholders'      equity                                                                                                           |   |   |       |   |   |   |   |   |
| Serial preferred stock Series C      and D, 234,544 shares outstanding,                                                             |   |   |       |   |   |   |   |   |
| not      subject to mandatory redemption (Maximum liquidation                                                                       |   |   |       |   |   |   |   |   |
| preference      $21,141,940)                                                                                                        |   |   | 486,076    |   |   |   | 486,076 |   |
|                                                                                                                                |   |   |       |   |   |   |   |   |
| Common stock, par value $.01;      authorized 8,000,000 shares;                                                                     |   |   |       |   |   |   |   |   |
| issued      3,531,812 shares; outstanding 3,465,544 shares                                                                          |   |   | 35,319     |   |   |   | 35,319 |   |
|                                                                                                                                |   |   |       |   |   |   |   |   |
| Additional paid-in      capital                                                                                                     |   |   | 7,112,199  |   |   |   | 7,112,199 |   |
| Readjustment resulting from      quasi-reorganization at December 1987                                                              |   |   | (1,670,596 | )      |   |   | (1,670,596 | ) |
| Retained earnings                                                                                                                   |   |   | 15,716,477 |   |   |   | 15,258,174 |   |
| Note receivable - sale of stock,      net of allowance of $2,440,000                                                                |   |   | -          |   |   |   | - |   |
| Treasury stock, 66,268 shares at      cost                                                                                          |   |   | (408,850   | )      |   |   | (408,850 | ) |
|                                                                                                                                |   |   |       |   |   |   |   |   |
| Total Stockholders'      Equity                                                                                                     |   |   | 21,270,625 |   |   |   | 20,812,322 |   |
|                                                                                                                                |   |   |       |   |   |   |   |   |
|              Total      Liabilities and Stockholders’ Equity |   | $      | 21,510,565 |   |   | $      | 21,203,973 |   |

----

Regency 

|                                                      |   | Three Months Ended March31, |      |
|-----------------------------------------------------------|--------|-----------------------------|-----------|
|                                                      |   | 2008                        |      |   | 2007 |   |
|                                                      |   |                        |      |   |   |   |
| Net      Sales                                            |   | $                           | -         |   |   | $ | - |   |
|                                                      |   |                        |      |   |   |   |   |   |
| Costs      and expenses                                   |   |                        |      |   |   |   |   |   |
| General and administrative      expenses                  |   |                        | 290,449   |   |   |   | 207,664 |   |
|                                                      |   |                        | 290,449   |   |   |   | 207,664 |   |
|                                                      |   |                        |      |   |   |   |   |   |
| Loss      from operations                                 |   |                        | (290,449  | ) |   |   | (207,664 | ) |
|                                                      |   |                        |      |   |   |   |   |   |
| Income      (loss) from equity investment in partnerships |   |                        | 688,045   |   |   |   | (185,658 | ) |
| Interest      and dividend income                         |   |                        | 60,707    |   |   |   | 119,057 |   |
| Other      income                                         |   |                        | -         |   |   |   | 1,848 |   |
|                                                      |   |                        |      |   |   |   |   |   |
| Net      income (loss)                                    |   |                        | 458,303   |   |   |   | (272,417 | ) |
|                                                      |   |                        |      |   |   |   |   |   |
|                                                      |   |                        |      |   |   |   |   |   |
|  Net      income (loss) per common share:            |   |                        |      |   |   |   |   |   |
| Basic                                                     |   | $                           | .13       |   |   | $ | (.08 | ) |
| Diluted *                                                 |   | $                           | .12       |   |   | $ | (.08 | ) |
|                                                      |   |                        |      |   |   |   |   |   |
| Weighted      average number of common shares outstanding |   |                        |      |   |   |   |   |   |
| Basic                                                     |   |                        | 3,531,812 |   |   |   | 3,308,335 |   |
| Diluted *                                                 |   |                        | 3,765,107 |   |   |   | 3,308,335 |   |

----

Regency 

|                                                                                                                                       |   | Three Months Ended March31, |        |
|--------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|-------------|
|                                                                                                                                       |   | 2008                        |        |   | 2007 |   |
| Cash      Flows from operating activities                                                                                                  |   |                        |        |   |   |   |
|                                                                                                                                       |   |                        |        |   |   |   |
| Net income    (loss)                                                                                                                       |   | $                           | 458,303     |   |   | $ | (272,417 | ) |
| Adjustments to reconcile net      income (loss) to                                                                                         |   |                        |        |   |   |   |   |   |
| net cash used in operating      activities                                                                                                 |   |                        |        |   |   |   |   |   |
| Depreciation and      amortization                                                                                                         |   |                        | 958         |   |   |   | 816 |   |
| (Income) loss from equity      investment in partnerships                                                                                  |   |                        | (688,045    | ) |   |   | 185,657 |   |
|                                                                                                                                       |   |                        |        |   |   |   |   |   |
| Changes in operating assets and      liabilities                                                                                           |   |                        |        |   |   |   |   |   |
| Other current      assets                                                                                                                  |   |                        | 5,816       |   |   |   | 6,440 |   |
| Accounts payable and accrued      expenses                                                                                                 |   |                        | (159,711    | ) |   |   | (213,216 | ) |
| Income taxes      payable                                                                                                                  |   |                        | 8,000       |   |   |   | 15,138 |   |
| Net cash used in operating      activities                                                                                                 |   |                        | (374,679    | ) |   |   | (277,582 | ) |
|                                                                                                                                       |   |                        |        |   |   |   |   |   |
| Cash      flows from investing activities                                                                                                  |   |                        |        |   |   |   |   |   |
|     Purchases      of property and equipment                                                                           |   |                        | -           |   |   |   | (9,742 | ) |
| Proceeds from sales of      marketable securities                                                                                          |   |                        | 28,800,000  |   |   |   | 12,000,000 |   |
| Purchases of marketable      securities                                                                                                    |   |                        | (28,312,914 | ) |   |   | (11,996,040 | ) |
|                                                                                                                                       |   |                        |        |   |   |   |   |   |
|          Net      cash provided by (used in) investing activities                             |   |                        | 487,086     |   |   |   | (5,782 | ) |
| Cash      flows from financing activities                                                                                                  |   |                        |        |   |   |   |   |   |
|     Purchase      of treasury stock                                                                                    |   |                        | -           |   |   |   | (60,450 | ) |
|                 Net      cash used in financing activities |   |                        | -           |   |   |   | (60,450 | ) |
|                                                                                                                                       |   |                        |        |   |   |   |   |   |
| Increase      (decrease) in cash and cash equivalents                                                                                      |   | $                           | 112,407     |   |   | $ | (343,814 | ) |
|                                                                                                                                       |   |                        |        |   |   |   |   |   |
| Cash      and cash equivalents – beginning                                                                                           |   |                        | 253,566     |   |   |   | 613,253 |   |
|                                                                                                                                       |   |                        |        |   |   |   |   |   |
| Cash      and cash equivalents – ending                                                                                              |   | $                           | 365,973     |   |   | $ | 269,439 |   |
|                                                                                                                                       |   |                        |        |   |   |   |   |   |

|                                                    |   | Three Months Ended March31, |   |
|---------------------------------------------------------|--------|-----------------------------|--------|
|                                                    |   | 2008                        |   |   | 2007 |   |
| Supplemental      disclosures of cash flow information: |   |                        |   |   |   |   |
| Cash paid during the period      for                    |   |                        |   |   |   |   |
| Interest                                                |   | $                           | -      |   |   | $ | - |   |
|                                                    |   |                        |   |   |   |   |   |   |
| Income taxes                                            |   | $                           | 61,640 |   |   | $ | 47,862 |   |

----

REGENCY 

----

----

AFFILIATES

| ITEM 2.   | MANAGEMENT’S      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF      OPERATIONS |
|--------------------------|-------------------------------------------------------------------------------------------------------|

----

----

----

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|   | · | A      default in the lease or sudden catastrophe to the property owned by      Security Land and Development Company Limited Partnership ("Security      Land") or the operating facilities owned by Mobile Energy Services      Company, LLC ("Mobile Energy") from uninsured acts of God or war could      have a materially adverse impact upon our investment in Security Land or      Mobile Energy, respectively, and therefore our financial position and      results of operations; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Our      subsidiaries currently lack the necessary infrastructure at the site of      the Groveland mine in order to permit them to make more than casual sales      of the Aggregate located at the Grovelandmine; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We      have had significant tax loss and credit carryforwards and no assurance      can be provided that the Internal Revenue Service would not attempt to      limit or disallow altogether our use, retroactively and/or prospectively,      of such carryforwards, due to ownership changes or any other reason. The      disallowance of the utilization or our net operating loss would severely      impact or financial position and results of operations due to the      significant amounts of taxable income that has been, and may in the future      be, offset by our net operating loss  carryforwards; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | If      we consummate the Reverse Stock Split (as defined below) and Forward Stock      Split (as defined below) and become a privately held company, stockholders      will own shares in a private company and may not have the ability to sell      their shares in the public market. Furthermore, we would not file current,      quarterly or annual reports or be subject to the proxy requirements of the      federal securities laws. Stockholders may therefore find it more difficult      to obtain information about us and our financial    performance; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Royalty      Holdings, LLC, an affiliate of our management, beneficially owns      approximately 52% of our common stock. As a result, Royalty has the      ability to control the outcome of all matters requiring stockholder      approval, including the election and removal of directors and any merger,      consolidation or sale of all or substantially all of our      assets; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We      do not expect to pay dividends in the foreseeable future;    and |
|--------|--------|--------------------------------------------------------------------------|

|   | · | There      are many public and private companies that are also searching for      operating businesses and other business opportunities as potential      acquisition or merger candidates. We will be in direct competition with      these other companies in its search for business opportunities. Many of      these entities have significantly greater financial and personnel      resources than us. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 3.1(i)(a)                                                                                                             |   | Restated      Certificate of Incorporation of the Company (filed as Exhibit 3.1(i)(a) to      the Company's Quarterly Report on Form 10‐Q for the period ended September      30, 2002, filed on November 19, 2002, and incorporated herein by      reference).                                                                  |
|-----------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1(i)(b)                                                                                                             |   | Corrected      Certificate of Amendment reflecting amendment to Restated Certificate of      Incorporation of the Company (filed as Exhibit 3.1(i)(b) to the Company's      Quarterly Report      on Form 10‐Q for the period ended September 30, 2002, filed on November      19, 2002, and incorporated herein by reference).  |
| 3.1(i)(c)                                                                                                             |   | Certificate      of Amendment of Restated Certificate of Incorporation of Regency      Affiliates, Inc. (filed as Exhibit A to the Company's Information      Statement on Schedule 14C filed on October 27, 2003 and incorporated by      reference herein).                                                                          |
| 3.1(i)(d)                                                                                                             |   | Certificate      of Designation - Series B Preferred Stock, $10 Stated Value, $.10 par      value (filed as Exhibit to Form 10‐K dated June 7, 1993 and incorporated      herein by reference).                                                                                                                                  |
| 3.1(i)(e)                                                                                                             |   | Amended      and Restated Certificate of Designation, Series C Preferred Stock, $100      Stated Value, $.10 par value (filed as Exhibit 99.4 to the Company's      Current Report on      Form 8‐K filed on October 18, 2002, and incorporated herein by      reference).                                                       |
| 3.1(i)(f)                                                                                                             |   | Certificate      of Designation - Series D Junior Preferred Stock, $10 Stated Value, $.10      par value (filed as Exhibit to Form 10‐K dated June 7, 1993 and      incorporated herein by reference).                                                                                                                           |
| 3.1(i)(g)                                                                                                             |   | Certificate      of Designation - Series E Preferred Stock, $100 Stated Value, $.10 par      value (filed as Exhibit 4.1 to the Company's Annual Report on Form 10‐K      for the year ended      December 31, 1995 at page E-1, and incorporated herein by      reference).                                                     |
| 3.1(ii)(a)                                                                                                            |   | By-laws      of the Company (filed as Exhibit 3.4 to the Company's Registration      Statement on Form S-1, Registration Number 2-86906, and incorporated      herein by reference).                                                                                                                                                   |
| 3.1.(ii)(b)                                                                                                           |   | Amendment      No. 1 to By-Laws of the Company (filed as Exhibit 3.1(ii)(b) to the      Company's Quarterly Report on Form 10‐Q for the period ended September 30,      2002, filed on November 19, 2002, and incorporated herein by      reference).                                                                            |
| 10.1+*                                                                                                                |   | Stock      Option Agreement, dated as of August 13, 2008 between the Company and      Laurence S. Levy.                                                                                                                                                                                                                                |
| 10.2+                                                                                                                 |   | First      Amendment to 2003 Stock Incentive Plan dated as of October 1,      2003.                                                                                                                                                                                                                                                    |
| 10.3+                                                                                                                 |   | Second      Amendment to 2003 Stock Incentive Plan dated as of August 13,      2004.                                                                                                                                                                                                                                                   |
| 10.4+                                                                                                                 |   | Third      Amendment to 2003 Stock Incentive Plan dated as of August 13,      2008.                                                                                                                                                                                                                                                    |
| 31.1+                                                                                                                 |   | Chief      Executive Officer’s Certificate, pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                      |
| 31.2+                                                                                                                 |   | Chief      Financial Officer’s Certificate, pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                      |
| 32.1+                                                                                                                 |   | Chief      Executive Officer’s Certificate, pursuant to 18 U.S.C. Section 1350, as      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of      2002.                                                                                                                                                                  |
| 32.2+                                                                                                                 |   | Chief      Financial Officer’s Certificate, pursuant to 18 U.S.C. Section 1350, as      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of      2002.                                                                                                                                                                  |
| +      Filed herewith* Indicates that exhibit is a      management contract or compensatory plan or      arrangement. |

----

SIGNATURES

|                          | REGENCY      AFFILIATES, INC. |                                                                 |
|-------------------------------|-------------------------------|----------------------------------------------------------------------|
|                          |                          |                                                                 |   |
| Date:      September 12, 2008 | By:                           | /s/ Laurence      S. Levy                                       |   |
|                          |                          | Laurence      S. LevyPresident      and Chief      Executive Officer |   |
|                          |                          |                                                                 |
|                          |                          |                                                                 |   |

| Date:      September 12, 2008 | By:    | /s/ Neil      N. Hasson                    |   |
|-------------------------------|--------|-------------------------------------------------|--------|
|                          |   | Neil      N. HassonChief      Financial Officer |   |
|                          |   |                                            |
|                          |   |                                            |   |

----

| 3.1(i)(a)                                                                                                             |   | Restated      Certificate of Incorporation of the Company (filed as Exhibit 3.1(i)(a) to      the Company's Quarterly Report on Form 10‐Q for the period ended September      30, 2002, filed on November 19, 2002, and incorporated herein by      reference).                                                                  |
|-----------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1(i)(b)                                                                                                             |   | Corrected      Certificate of Amendment reflecting amendment to Restated Certificate of      Incorporation of the Company (filed as Exhibit 3.1(i)(b) to the Company's      Quarterly Report      on Form 10‐Q for the period ended September 30, 2002, filed on November      19, 2002, and incorporated herein by reference).  |
| 3.1(i)(c)                                                                                                             |   | Certificate      of Amendment of Restated Certificate of Incorporation of Regency      Affiliates, Inc. (filed as Exhibit A to the Company's Information      Statement on Schedule 14C filed on October 27, 2003 and incorporated by      reference herein).                                                                          |
| 3.1(i)(d)                                                                                                             |   | Certificate      of Designation - Series B Preferred Stock, $10 Stated Value, $.10 par      value (filed as Exhibit to Form 10‐K dated June 7, 1993 and incorporated      herein by reference).                                                                                                                                  |
| 3.1(i)(e)                                                                                                             |   | Amended      and Restated Certificate of Designation, Series C Preferred Stock, $100      Stated Value, $.10 par value (filed as Exhibit 99.4 to the Company's      Current Report on      Form 8‐K filed on October 18, 2002, and incorporated herein by      reference).                                                       |
| 3.1(i)(f)                                                                                                             |   | Certificate      of Designation - Series D Junior Preferred Stock, $10 Stated Value, $.10      par value (filed as Exhibit to Form 10‐K dated June 7, 1993 and      incorporated herein by reference).                                                                                                                           |
| 3.1(i)(g)                                                                                                             |   | Certificate      of Designation - Series E Preferred Stock, $100 Stated Value, $.10 par      value (filed as Exhibit 4.1 to the Company's Annual Report on Form 10‐K      for the year ended      December 31, 1995 at page E-1, and incorporated herein by      reference).                                                     |
| 3.1(ii)(a)                                                                                                            |   | By-laws      of the Company (filed as Exhibit 3.4 to the Company's Registration      Statement on Form S-1, Registration Number 2-86906, and incorporated      herein by reference).                                                                                                                                                   |
| 3.1.(ii)(b)                                                                                                           |   | Amendment      No. 1 to By-Laws of the Company (filed as Exhibit 3.1(ii)(b) to the      Company's Quarterly Report on Form 10‐Q for the period ended September 30,      2002, filed on November 19, 2002, and incorporated herein by      reference).                                                                            |
| 10.1+*                                                                                                                |   | Stock      Option Agreement, dated as of August 13, 2008 between the Company and      Laurence S. Levy.                                                                                                                                                                                                                                |
| 10.2+                                                                                                                 |   | First      Amendment to 2003 Stock Incentive Plan dated as of October 1,      2003.                                                                                                                                                                                                                                                    |
| 10.3+                                                                                                                 |   | Second      Amendment to 2003 Stock Incentive Plan dated as of August 13,      2004.                                                                                                                                                                                                                                                   |
| 10.4+                                                                                                                 |   | Third      Amendment to 2003 Stock Incentive Plan dated as of August 13,      2008.                                                                                                                                                                                                                                                    |
| 31.1+                                                                                                                 |   | Chief      Executive Officer’s Certificate, pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                      |
| 31.2+                                                                                                                 |   | Chief      Financial Officer’s Certificate, pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                      |
| 32.1+                                                                                                                 |   | Chief      Executive Officer’s Certificate, pursuant to 18 U.S.C. Section 1350, as      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of      2002.                                                                                                                                                                  |
| 32.2+                                                                                                                 |   | Chief      Financial Officer’s Certificate, pursuant to 18 U.S.C. Section 1350, as      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of      2002.                                                                                                                                                                  |
| +      Filed herewith* Indicates that exhibit is a      management contract or compensatory plan or      arrangement. |