JEREMY SMEETON

is Managing Director of Global Asset Allocation Limited, GAA Investment Funds Limited, GAA Direct Limited and Global Asset Allocation (S) Pte Ltd.

Formerly Executive Director of Pesaka Capital Corporation, he sits on the board of several unit trust and mutual fund companies. Mr Smeeton has worked in the offshore financial services industry since 1987 and is responsible for the design of a range of financial instruments which have been successfully distributed throughout Europe, the Middle East, Africa and Asia.

CARL BUTLER

is a Director of Global Asset Allocation Limited, GAA Investment Funds Limited and Global Asset Allocation (S) Pte Ltd and is also Chief Operating Officer of GAA Direct Limited.

Mr Butler has spent more than 25 years in the management of companies in both the automotive and financial services industries. He has worked in international sales, marketing and distribution in the UK as well as in the Middle East, Germany and Korea. He has worked in the offshore financial services industry since 1996.

JOHN COLLIS

is a Director of Global Asset Allocation Limited and GAA Investment Funds Limited. He is also a Partner in Messrs Conyers Dill & Pearman, Barristers and Attorneys, Hamilton, Bermuda. Mr Collis received a Bachelor of Commerce Degree from McGill University, Canada and a Bachelor of Arts (Jurisprudence) from Oxford University, England. He is a member of the Bar of England and Wales and of the Bar of Bermuda. Dawn Griffiths, a corporate associate with Conyers Dill & Pearman, has been appointed Alternate Director of Mr Collis.

Global Asset Allocation Limited

Clarendon House
Church Street
Hamilton HM 11
Bermuda

GAA Investment Funds Limited

Penboss Building
50 Parliament Street
Hamilton HM 12
Bermuda

GAA Direct Limited

Unit Level 13(E)
Main Office Tower
Financial Park Labuan
Jalan Merdeka
87000 Federal Territory of Labuan
Malaysia

Global Asset Allocation (S) Pte Limited

3 Anson Road
#07-01 Springleaf Tower
Singapore 079909