As one of the founders of FPCM, Mr. Dachille has more than 21 years of experience creating asset management solutions for large institutions.Mr. Dachille's background and knowledge encompass all aspects of asset management, structured finance, and risk management. Immediately prior to co-founding FPCM, Mr. Dachille was President and Chief Operating Officer of Zurich Capital Markets Inc. ("ZCM"), an integrated alternative investment asset management and structured product subsidiary of Zurich Financial Services.

Preceding his tenure at ZCM, Mr. Dachille was a Managing Director for J.P. Morgan where he was the Global Head of Proprietary Trading and a member of the Management Committee of the Investment Bank. He was responsible for building the Global Relative Value Proprietary Trading business, and in fiscal year 2000 this business was one of the most important contributors to both the pre-tax net income and economic value for J. P. Morgan. In addition, Mr. Dachille was responsible for managing the bank's investment portfolios, for developing and executing economic and regulatory capital management strategies, and for designing and managing non-qualified employee deferred compensation plans. Mr. Dachille was Chairman of the firm's Capital Committee and served as a trustee of the J. P. Morgan qualified benefit plans. Prior to his role in the Proprietary Positioning business, Mr. Dachille was responsible for building the Hybrid Derivatives business for J. P. Morgan beginning in 1991. The Hybrid Derivatives business was developed to provide clients with customized derivatives solutions to complex problems and continues to be a significant revenue contributor for J. P. Morgan.

Mr. Dachille is frequently called upon by the financial press to comment on the economy and developments in the fixed income markets. In addition to being quoted in various publications, he is a regular guest on both CNBC and Bloomberg television programs.

Mr. Dachille earned his Bachelor of Science in a special joint program through Union University and Albany Medical College, and later was a Pew Scholar in Medicine, Arts and Social Sciences at the University of Chicago.

Mr. Dolan brings over 24 years of capital markets, structured finance, corporate finance, and M&A experience to FPCM. Prior to helping found FPCM, Mr. Dolan founded First Principles Finance, LLC, ("FPF") the predecessor firm of FPCM, in 2002.

Before he founded FPF, Mr. Dolan was a Managing Director at J. P. Morgan, where he established and led the Insurance & Pension Derivatives business. This business was consistently a market leader and provided structured high-quality fixed-income strategies including synthetic Guaranteed Investment Contracts (GICs), stable-value investments and structured fixed-income portfolios to various institutional 401(k), pension, insurance and bank clients. Mr. Dolan was also a trustee of the J. P. Morgan pension and welfare plans and was responsible for the asset and liability management of the firm's non-qualified employee benefit plans and their investments. In that capacity, he was responsible for risk management and asset allocation, the purchase and structuring of the firm's corporate-owned life insurance policies and employee benefit liability design. Prior to founding J. P. Morgan's Insurance & Pension Derivatives business, Mr. Dolan was a Vice President in the Mergers & Acquisition group and taught in the firm's executive training programs.

Mr. Dolan received his Bachelor of Arts in Government from Franklin & Marshall College, and his M.B.A. from Fordham University in New York City.

Mr. Van Epps is recognized as a leading expert in the corporate and bank-owned life insurance arena, and has over 20 years of experience in the complex insurance markets. In 2005 he integrated the operations of Van Epps & Associates into FPCM.

Mr. Van Epps oversees FPCM's Atlanta operations as well as manages the technological resources and administration of FPCM including accounting, financial reporting and audit controls. He also coordinates FPCM's insurance strategies.

In addition to his insurance expertise, Mr. Van Epps has extensive background in the design, funding and administration of non-qualified benefit programs. Over the past ten years, he has provided more than 100 major U.S. corporations and banks with funding strategies and financing alternatives for their broad-based employee benefit liabilities. Mr. Van Epps has been engaged as a consultant by several major insurance companies for specialty product design. Financial institutions have looked to him for consultation on funding alternatives, investment strategies, overseeing investor relations and compliance.

Mr. Van Epps earned a Bachelor's degree in Business Administration & Finance from Georgia Southern University.

Mr. Miller has over 26 years of experience in risk management, research, and derivatives structuring and trading. Immediately prior to joining FPCM, Mr. Miller was a Managing Director at J. P. Morgan in charge of risk management coverage of the Global Institutional Equities division, with oversight responsibilities for the North American Interest Rate businesses.

During his 17 year career at J. P. Morgan, Mr. Miller held several other positions including four years as Managing Director and Global Head of Derivatives Research, four years as a founding member and senior trader in the Hybrid Derivatives trading group (two of those years were spent in London building the European group). The Hybrid Derivatives business delivered customized derivatives' solutions to institutional clients, and continues to be a major contributor to J. P. Morgan derivatives franchise. Prior to Hybrid Derivatives trading, Mr. Miller spent one year as a French franc derivatives trader & structurer, after spending his first three years as a derivatives researcher supporting J.P. Morgan's fixed income derivatives effort.

Before joining J. P. Morgan, Mr. Miller worked for Powers Research Inc., serving as an asset/liability consultant for financial institutions, with a focus on hedging strategies utilizing interest rate futures. For the first four years of his career, starting in 1981, Mr. Miller worked for Equitable Life Assurance of the U.S., and subsequently Metropolitan Life Insurance Co., developing new derivatives based investment products for defined benefit and defined contribution pension plans, and formulating asset/liability strategy related to the pension GIC business.

Mr. Miller earned his Bachelor's degree in Physics from Vassar College.

Mr. Chen has over 24 years of experience structuring and trading complex derivatives, and has been an innovator in the design and building of revolutionary risk management systems. Prior to joining FPCM, Mr. Chen was a Managing Director at ZCM until May 2004. While at ZCM, Mr. Chen was the Global Head of Trading, overseeing the firm's traditional asset strategies as well as alternative investment assets trading.

Before ZCM, Mr. Chen was at J. P. Morgan for 16 years. He was a key member of the firm's Hybrid Derivatives business, where he managed multi-currency swaps, derivatives and foreign exchange portfolios. Mr. Chen also was responsible for starting and building J. P. Morgan's Latin American interest rate derivatives trading business. Also, he was involved in building the analytic infrastructure for J. P. Morgan's interest rate derivatives business, and he was credited for pioneering the now broadly used J. P. Morgan Fixed Income Derivatives Analytic Library as well as the Swaps Credit Exposure system.

Mr. Chen received his Bachelor's degree in economics from the University of New Hampshire, and his MBA from New York University.

Mr. Lieberman has over 22 years of experience in the fixed income markets, with a strong background in derivatives development, marketing, and trading. Prior to joining FPCM, Mr. Lieberman was a Managing Director at Nomura Global Financial Products and Nomura Securities International, Inc.

During his 17 year career at Nomura, Mr. Lieberman held positions in trading, sales, and management roles. He headed Nomura's North American Fixed Income Derivatives Business and Global Fixed Income Derivatives Trading. As a member of Nomura's North American Operating and Management Committees, Mr. Lieberman focused on building Nomura's domestic Fixed Income business and its integration into Nomura's global platform. He has been involved in many innovations in the fixed income derivatives marketplace, both stand alone, and with other fixed income products and markets, including development and market making in several of the first publicly issued hybrid transactions.

Before joining Nomura, Mr. Lieberman was a member of Prudential Global Funding, one of the first interest rate derivatives firms, established in 1985.

Mr. Lieberman earned a BA degree in Economics from the University of Michigan.

Mr. Alexandridis brings over 22 years of structured credit, credit trading, and derivatives experience to FPCM. Prior to joining FPCM, Mr. Alexandridis worked for three years as a Managing Director at BNP Paribas, where he was responsible for managing the firm's Flow, Structured, and Proprietary Credit Trading businesses and was a member of the Fixed Income Management Committee in the Americas.

Mr. Alexandridis was a Managing Director at General Re Financial Products (GRFP) in charge of building and managing the Structured Credit Trading business before joining BNP. Mr. Alexandridis built a credit correlation capability that enabled GRFP to be among the first providers of the strategies in the marketplace.

Prior to joining GRFP, Mr. Alexandridis was a Managing Director at J.P. Morgan where he held a variety of senior derivative trading positions involving trading and risk managing new derivative product (index, hybrid, & credit derivatives) or adapting existing derivative technology to new markets (emerging market swaps and foreign exchange options).

Mr. Alexandridis earned a Bachelor of Science and an M.S. from Massachusetts Institute of Technology in Civil Engineering, as well as an M.S. from Carnegie Mellon University in Operations Research.

Mr. Baek has more than 18 years of structured finance experience & capital markets experience, and a strong background in related accounting, regulatory and tax matters. Prior to joining FPCM, Mr. Baek was a Managing Director at Zurich Capital Markets. While there, Mr. Baek was responsible for new product development and securitization activities.

Prior to joining ZCM, Mr. Baek was a Senior Vice President at Lehman Brothers Inc. where he was responsible for principal finance activities covering financial institutions. He worked on the development of many new financing structures covering a broad range of financial assets. In addition, Mr. Baek was responsible for advising financial institutions on various fixed income and capital markets strategies including structured finance & securitization, balance sheet and capital management, derivatives strategies, and accounting / regulatory developments. Prior to joining Lehman, Mr. Baek worked at TMG Financial Products where he was responsible for structured product marketing. Prior to TMG, Mr. Baek worked at Goldman Sachs & Co where he was responsible for advising financial institutions on balance sheet restructuring and asset/liability management.

Mr. Baek earned a Bachelor of Science in Aerospace Engineering from The State University of New York at Buffalo, and Master of Science in Operations Research from Stanford University.

Mr. Lewis has over 22 years of experience marketing various investment, insurance and capital markets strategies. Prior to joining FPCM, he was a Principal at The Todd Organization, working with Fortune 500 industrial companies and large financial institutions.

At the Todd Organization, Mr. Lewis focused on working with financial executives to help optimize the funding and hedging of non-qualified benefit liabilities. His expertise enabled companies to find the most effective ways to finance current and post-retirement liabilities pertaining to supplemental retirement plans and other employee benefit obligations. Mr. Lewis has held leadership positions in financial industry associations, promoted industry positions to Members of Congress, spoken at industry forums, and appeared on CNBC television.

Mr. Lewis earned a Bachelor of Science in Finance from Lehigh University.

Mr. Ho has over 15 years of experience in fixed income trading and research. Prior to joining FPCM, Mr. Ho was the head of fixed income proprietary trading at Zurich Capital Markets Inc. ("ZCM"). At ZCM, Mr. Ho was also the senior trader responsible for managing the capital markets risk of the alterative assets book. Before joining ZCM, Mr. Ho was a fixed income options trader at Salomon Brothers Inc.

Mr. Ho's areas of expertise include treasuries, swaps, agencies, mortgages, municipal bonds, inflation-linked securities, and alternative assets. In addition to years of trading experience, Mr. Ho spent several years in the derivatives research department at Salomon Brothers Inc. building options models and performing quantitative analysis.

Mr. Ho received his Bachelor of Science in Applied Mathematics from Harvey Mudd College and his Ph.D. in Mathematics from Stanford University. Mr. Ho was a National Science Foundation Fellow and a Post-Doctoral Fellow at the Stanford University School of Medicine.

Ms. Li has over 17 years of credit analysis and trading experience. Prior to joining FPCM, Ms. Li was the Credit Market Strategist for Primus Financial Products for more than two years. In this capacity, she was responsible for analyzing the spectrum of US and European investment grade credits.

Ms. Li served as Senior Vice President and Credit Analyst for a fixed income hedge fund at Weiss, Peck, & Greer prior to joining Primus. She previously served as a Senior Credit Analyst for Gen Re Financial Products covering the retail, technology, telecom, aerospace/defense, and railroad sectors.

Prior to General Re, Ms. Li worked as an Associate Analyst in the Corporate Finance Group at Moody's Investor's Service covering the metals and mining, building materials, and aerospace/defense sectors for four years. Earlier in her career, Ms. Li held positions with the Bank of Tokyo-Mitsubishi and the Georgia Department of Banking and Finance.

Ms. Li earned a Bachelor of Arts degree in English from Beijing Foreign Studies University in Beijing, China, and received her M.B.A. from the University of South Carolina.

Mr. Kadiyala has over 19 years experience in quantitative analysis, modeling, and general management. Prior to joining FPCM, Mr. Kadiyala worked in structured products sales at Dresdner Kleinwort Wasserstein. In this capacity he was responsible for covering regional dealers for interest rate derivative products and private banks for structured products.

Prior to that starting in 1995, Mr. Kadiyala was the founder and President of two startups VinKad Services Inc. and Foliometrics.com Inc. VinKad Services was focused on providing computer based analysis and modeling to Engineering companies. Foliometrics.com was focused on providing web based financial and risk analysis to individual investors in partnership with online trading platforms.

Mr. Kadiyala started his career working on structural design, safety, and fatigue monitoring of US Naval planes. In this capacity, he developed models and analysis tools for structural life extension of A6 Intruder and F14 Tomcat Naval Planes. Following this he worked at American Electric Power in the area engineering computer applications. As part of an accident investigation and technical assessment group, Mr. Kadiyala was responsible for modeling and recommending solutions for accidents ranging from pressure vessel ruptures, turbine blade failures, to piping failures in nuclear plants.

Mr. Kadiyala earned his B.S. in Mechanical Engineering from the Indian Institute of Technology, Bombay (IIT) ; an M.S. in Engineering Sciences from Virginia Tech (NASA Virginia Tech program in Composite Materials); and an MBA from the University of California, Berkeley with a focus on quantitative finance.

Mr. Duff has over 28 years of structured finance and fixed income expertise. Prior to joining FPCM, Mr. Duff worked at J.P. Morgan for more than 22 years. Most recently he was responsible for creating an Investor Relations function for structured products to address the needs of both investors and J.P. Morgan's market makers in collateralized debt obligations (CDOs). In this capacity he spearheaded the development of J.P. Morgan's first website devoted to structured products. He also managed relationships with trustees, outside counsel, rating agencies and software providers in support of the ongoing performance monitoring of J.P. Morgan-originated deals.

Prior to his most recent assignment, Mr. Duff's roles included developing systems for deal structuring in both the Asset Finance and Municipal Finance groups, and the development of pricing and risk management tools for foreign exchange and fixed income trading.

Prior to joining J.P. Morgan, Mr. Duff was with Lloyd Bush & Associates where he was a software developer and product manager for tools used in the structuring of municipal finance issues. Earlier in his career Mr. Duff was a software product manager with The Service Bureau Corporation covering solutions marketed to the financial services industry.

Mr. Duff holds a Bachelor of Arts in Economics with a Computer Science minor from Duke University and a Masters of Business Administration from New York University.

Mr. Meehan has 5 years of experience in financial analysis and marketing, management consulting, and economic consulting. He was formerly with NERA Economic Consulting, a division of Mercer Consulting, and Galt & Company, a boutique strategy consulting firm where he worked with companies in the consumer packaged goods and natural resources industries.

Mr. Meehan received a Bachelor of Arts in History from Dartmouth College in 2004.

Mr. Peeke has 11 years of experience in general management and financial analysis. Prior to joining FPCM, Mr. Peeke worked as a Derivatives Analyst for The Royal Bank of Canada with the operational team. In this capacity, he was responsible for the execution of fixed income products.

Before joining The Royal Bank of Canada, Mr. Peeke was a manager for Air Cruisers Company, the world's leading manufacturer of aircraft evacuation devices.

Prior to Air Cruisers, Mr. Peeke served in the United States Navy as a munitions expert on the USS Nitro.

Mr. Garff has 35 years experience in marketing fixed income and derivative products. Prior to FPCM, Mr. Garff worked as a Managing Director at Morgan Stanley Investment Management. Prior to Morgan Stanley, Mr. Garff held various senior positions at Goldman Sachs, TSA Capital Management, and Paine Webber. Mr. Garff earned a B.S. in Electrical Engineering from the University of Utah and an MBA from Washington University (St. Louis).

Mr. Van Epps is recognized as a leading expert in the corporate and bank-owned life insurance arena, and has over 25 years of experience in the complex insurance markets. He is one of the founding partners and in 2005 integrated the operations of Van Epps & Associates with FPCM.Mr. Van Epps was an early pioneer in the utilization of institutional structured insurance products to finance broad based benefit liabilities. In addition to his insurance expertise, Mr. Van Epps has extensive background in the administration of non-qualified benefit programs.

FPCM Administrative Services, LLC administers over $30 billion of business owned life insurance assets in addition to over 300 executive compensation programs.

Mr. Van Epps oversees FPCM's Atlanta operations as well as manages the technological resources and administration of FPCM including accounting, financial reporting and audit controls. He also coordinates FPCM's insurance strategies.

Mr. Van Epps earned a Bachelor's degree in Business Administration & Finance from Georgia Southern University.

Mr. Dolan brings over 20 years of capital markets, structured finance, corporate finance, and M&A experience to FPCM. Prior to helping found FPCM, Mr. Dolan founded First Principles Finance, LLC, ("FPF") the predecessor firm of FPCM, in 2002.

Before he founded FPF, Mr. Dolan was a Managing Director at J. P. Morgan, where he established and led the Insurance & Pension Derivatives business. This business was consistently a market leader and provided structured high-quality fixed-income strategies including synthetic Guaranteed Investment Contracts (GICs), stable-value investments and structured fixed-income portfolios to various institutional 401(k), pension, insurance and bank clients. Mr. Dolan was also a trustee of the J. P. Morgan pension and welfare plans and was responsible for the asset and liability management of the firm's non-qualified employee benefit plans and their investments. In that capacity, he was responsible for risk management and asset allocation, the purchase and structuring of the firm's corporate-owned life insurance policies and employee benefit liability design. Prior to founding J. P. Morgan's Insurance & Pension Derivatives business, Mr. Dolan was a Vice President in the Mergers & Acquisition group and taught in the firm's executive training programs.

Mr. Dolan received his Bachelor of Arts in Government from Franklin & Marshall College, and his M.B.A. from Fordham University in New York City.

Ms. Stampfl has 18 years experience in accounting, financial analysis and reporting, operational analysis, tax and compliance. Prior to joining FPCM, she served as the Controller for MDdatacor, Inc., a privately held healthcare information technology company, where she managed the financial, accounting and human resource operations. Ms. Stampfl also held finance and accounting leadership positions at Johnson Controls, Inc., Vanstar, Inc., IBM, and Chase Manhattan Bank.

Ms. Stampfl earned a Bachelor of Science degree in Finance from Boston College and her M.B.A. from Duke University.

Mr. Branscomb has more than 20 years in life insurance actuarial consulting, specializing in the review and analysis of insurance programs. Prior to joining FPCM, he was a consulting actuary with Milliman, an international actuarial and consulting firm where Mr. Branscomb was responsible for the development of COLI illustration systems and the refinement of their associated products. He is currently responsible for the development and support of several in-house analytical and audit systems for FPCM's BOLI team.

Mr. Branscomb is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries. He graduated magna cum laude from the University of Georgia prior to earning a Master of Actuarial Science degree at Georgia State University.

Mr. Ellis-May's career spans over 25 years with experience in applied mathematics, statistical modeling, software development, and financial and business modeling.
Prior experience includes consulting and advising on manufacturing rollups, leveraged buyouts, strategic acquisition and economic policy modeling for state and federal government legislative initiatives and ERP implementation.

Mr. Ellis-May holds a Bachelor of Science in Economics and Statistics from Cornell University and an M.B.A. from Rensselaer Polytechnic in Operations Research and Statistics.

Mr. Newkirk has seven years experience in institutional insurance strategies. As a senior business analyst for financial institutions, he specializes in the design, implementation, and administration of BOLI. His primary responsibilities include client relationship management, marketing and business development, and ongoing financial reporting, and investment modeling/analysis.

Mr. Newkirk earned his Bachelor of Science/Bachelor of Arts degree in Finance and Risk Management at Appalachian State University.

Mr. Van Epps has three years experience in institutional insurance strategies. Mr. Van Epps provides design, implementation and enrollment support for BOLI transactions as well as custom support on special projects. Mr. Van Epps received his Bachelor of Science in Economics from the University of Tennessee.