Colleyville, TX ( March 1, 2006) – Madison Advisors, an advisory firm that advances the print and electronic communications objectives of Fortune 1000 companies, today announced the appointment of Stephen Watters as a principal analyst. Watters will be responsible for leading client engagements, specifically those in the transactional print and mail production environments. He brings to Madison Advisors his extensive industry experience in transactional print and mail production environments, postal processing, hardware and software selection, and automated document factory (ADF) planning and implementation. “We are very excited to have Steve join Madison Advisors as we continue to expand our offerings in the Enterprise Output, ADF, and paper-handling technologies,” said Madison Advisors CEO Kemal Carr. “Steve combines a long history of pragmatic application development and technology deployment with a realistic approach that’s provided a legacy of success in his previous endeavors.” With more than 25 years experience in the print and mail industry, Watters held various leadership positions at Kern International including VP and general manager of Kern AG's U.S. subsidiary. Prior to his time with Kern, he spent many years in a leadership role in SBC’s print and mail organization where he lead the design, development, and implementation of an automated document factory platform. Watters holds a Bachelor of Arts degree from California State University-Sacramento where he was a Masters of Arts Program Candidate. He previously served on the board of directors of the Major Mailers Association and as vice president of the Sacramento chapter of the Mail Systems Management Association. He has been a presenter and speaker at Xplor, MailCom, TeleStrategies, and National Postal Forum conferences throughout his career. “I’m excited to be joining forces with Madison Advisors, whom I consider to be the industry’s premier consulting organization,” said Watters. “The scope of industry expertise of the Madison team is unprecedented and the depth of Madison’s research database is very impressive. I’m looking forward to being part of this team.”