Board Member Robert R. Glauber

Retired Chairman and Chief Executive Officer

National Association of Securities Dealers, Inc.
Washington, DC

Mr. Glauber was Chairman and Chief Executive Officer of the NASD from September 2001 to September 2006. Prior to that he served as the NASD's President from November 2000 to September 2001. Prior to joining the NASD, he was a lecturer at the John F. Kennedy School of Government at Harvard University from 1992 until 2000, Under Secretary of the Treasury for Finance from 1989 to 1992 and, prior to that, was a Professor of Finance at the Harvard Business School. Mr. Glauber previously served on the boards of the Federal Reserve Bank of Boston, a number of Dreyfus mutual funds and the Investment Company Institute and as president of the Boston Economic Club. Mr. Glauber also is a member of the boards of directors of Moody's Corporation and Quadra Realty Trust and is lead director of XL Capital Ltd.

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3/08