Jacob H. Yahiayan, Managing Member, Commercial and Institutional Advisory, C&IA: During his 20 years in corporate banking, Jacob H. Yahiayan, Founder and Managing Member of Continental Advisory Services, LLC, has successfully structured more than US $5 billion in corporate financing in North American and international markets. In his last management role, Mr. Yahiayan was the Assistant General Manager and Head of Corporate Banking at a subsidiary of Standard Chartered Bank, PLC. Previously, Mr. Yahiayan was the Vice President of the Corporate and Institutional Group for Standard Chartered Bank's New York branch and Head of Credit and Business Development for the New York branch of Bank Bumiputra Malaysia Berhad. Mr. Yahiayan received his BA from New York University, MBA from New York Institute of Technology, International Management Certification from INSEAD, Fontainebleau-France, and an M.Sc. in Education from CUNY-Brooklyn College. Mr. Yahiayan also is a licensed registered investment advisor in NY, FL, TX & CA, and holds a New York State Real Estate Broker's License.

On occasion, Mr. Yahiayan participates as a guest panelist for various industry associations. In December 2003, Mr. Yahiayan wrote and presented a position paper at the Strategic Research Institute's 7th Annual Loan Markets & Syndication Symposium (Boca Raton, FL); the Forum on Corporate Fraud & the Debt/Equity Capital Markets (Washington, DC) and the 7th Annual Mergers & Acquisitions Advisors Conference (NYC). Mr. Yahiayan co-sponsored a luncheon discussion with Daniel Yergin, Chairman of Cambridge Energy Research Associates (Princeton Club of New York) and John Sexton, Ph.D., President, New York University and Vice Chairman of the New York Federal Reserve (The Down Town Association, NYC).

Mr. Yahiayan is an active participant in issues concerning NYC's public schools. In June 2003, Mr. Yahiayan completed his NYC Teaching Fellowship, with an M.Sc. in Education. He was a member of New York University's advisory council and is a member of the International Board of Advisors for the Lebanese American University.

Joshua Maldonado, Managing Director, C&IA: With more than 30 years of progressive and diverse experience in banking and financial services with the Federal Reserve Bank of New York, Mr. Maldonado brings a unique perspective as a seasoned professional. His credentials are in bank supervision and regulation, with emphasis in accounting, finance, credit, audit and internal controls, and risk management. As a Senior Relationship Specialist, his continuous interaction with the management of foreign agencies and representative offices, commercial banks, broker/dealers and Investment Edge Act corporations has contributed to advanced risk knowledge in credit, market, liquidity, operations and legal compliance. Mr. Maldonado also has coordinated, supervised and performed multiple risk assessments of these institutions while training and coaching junior specialists. He has headed examination teams that conducted safety and soundness examinations within the 2nd Federal Reserve District to assess risk management, operational controls, asset quality and the financial condition of
the institutions.

Mr. Maldonado took part in the U.S. Government's rescue of savings and loans industries in Maryland and Ohio, receiving a U.S. Presidential Award and other governmental recognition for his efforts. He also has participated and led teams of examiners from the three U.S. financial regulatory bodies in their annual review of the Shared National Credit Program of large, syndicated credit facilities across the U.S. His extensive travels in Asia and Europe to review the overseas operations of U.S. domestic banks have afforded many opportunities to represent the Federal Reserve System (FRS) through the U.S. State Department when meeting overseas financial regulatory bodies. Mr. Maldonado has participated in various training programs at the Board of Governors of the FRS and the Federal Financial Institutions Examination Council in Washington, DC. He received his BA from Hunter College and his MBA from Fairleigh Dickinson University, with a specialty in Bank Management.

Renée F. Morris, Managing Director, C&IA: Ms. Morris has 20 years expertise including engineering and construction related matters for large scale infrastructure and energy projects. She has worked with leading firms such as Stone & Webster Engineering Corporation, Honeywell and Bechtel and was affiliated with Blaylock & Partners for industry and equity research projects. Ms. Morris completed baccalaureate degrees in Engineering and Economics from Brown University and an MBA from Harvard University.