Lowe Brockenbrough & Company, Inc.


		J. Ros Bowers, Jr., CFA Vice President & Research Analyst Prior to joining our firm, Mr. Bowers was an International Analyst for Evergreen Funds in Boston. He holds a B.A. in Economics and History from the University of Virginia and an M.B.A. from the University of North Carolina. Mr. Bowers has 17 years of investment experience.
		Austin Brockenbrough, III Managing Director A founding partner of Lowe, Brockenbrough in 1970, Mr. Brockenbrough serves as Chairman of the firm's Management Committee. Mr. Brockenbrough previously served as an institutional account executive at Wheat First Butcher Singer. He has a B.S. in Finance from the University of Richmond. Mr. Brockenbrough has 42 years of investment experience.
		Austin Brockenbrough, IV, CFA Managing Director Mr. Brockenbrough previously was an investment executive at Paine Webber in Denver, Colorado. He holds a B.S. in English with a concentration in American Studies and an M.B.A. from the University of Virginia. Mr. Brockenbrough has 14 years of investment experience.
		Robert R. Burke, CFA, CFP Managing Director Prior to joining our firm, Mr. Burke was a portfolio manager at Trustmark National Bank and a tax consultant with Ernst and Young. A past president of the Mississippi Society of Financial Analysts, he has a B.A. in Economics and a Master of Science in Accounting from the University of Virginia. Mr. Burke has 14 years of investment experience.
		Charles M. Caravati, III, CFA Managing Director Mr. Caravati serves as the firm's Director of Portfolio Strategy. Prior to coming to Lowe, Brockenbrough, he was an account manager at NationsBank. He holds a B.A. in History and Economics and an M.B.A. from the University of Virginia. Mr. Caravati has 19 years of investment experience.
		William R. Claiborne, CFA Managing Director Mr. Claiborne is Director of Account Management Services. Prior to joining Lowe, Brockenbrough in June 1993, Mr. Claiborne was Vice President, portfolio manager at Commonwealth Investment Counsel, a Wheat First Butcher Singer Subsidiary. He is a graduate of the University of Virginia with a B.A. in Economics and has 24 years of investment experience.
		Peter L. Gibbes, CFA, CFP Vice President & Director of Quantitative Analysis Before joining Lowe, Brockenbrough, Mr. Gibbes was a systems analyst at Southern States Cooperative. He holds a B.S. in Business (Information Systems) and an M.B.A. from Virginia Commonwealth University. He is responsible for the firm's computer based research. Mr. Gibbes joined Lowe, Brockenbrough in 1987 and has 20 years of investment experience.
		Joseph A. Jennings, III, CFA Vice President Manager of the firm's taxable fixed income portfolios, Mr. Jennings was previously a Senior Vice President at Crestar Bank and at Central Fidelity Bank, where he managed fixed income portfolios for the banks' investment divisions. He holds a B.A. in Economics from the University of Virginia and an M.B.A. from the University of Richmond. Mr. Jennings has 20 years of investment experience.
		Vanetta L. Kersey Director of Operations Prior to joining our firm, Mrs. Kersey was in Operations and Trading for Mentor Investment Group, a Wheat First Securities subsidiary. Mrs. Kersey has 20 years of investment experience.
		David A. Lyons, CFA Managing Director Mr. Lyons is responsible for the firm's marketing and operations. Prior to joining Lowe, Brockenbrough, Mr. Lyons was Vice President, Institutional Marketing, at T. Rowe Price Retirement Plan Services. He holds a B.S. in Business Administration from the University of Richmond and a M.B.A. from Johns Hopkins University. Mr. Lyons is a Certified Employee Benefits Specialist and has 20 years investment experience.
		Page T. Reece, CFA, CPA Chief Compliance Officer Before joining Lowe, Brockenbrough in 1997, Mrs. Reece was Director of Client Services for Mentor Investment Advisors. She holds a B.B.A. in Accounting from the College of William and Mary and an M.B.A. in Finance from the University of Richmond. Mrs. Reece has 27 years investment experience.
		David K. Sanderlin Director of Information Technology Prior to joining Lowe, Brockenbrough, Mr. Sanderlin has been a Senior Systems Analyst for Central Fidelity Bank as well as having been a technical consultant within the financial industry. He holds Bachelors of Science Degrees in Management and Management Information Systems from Old Dominion University. Mr. Sanderlin has 23 years Information Technology experience.
		Ernest H. Stephenson, Jr., CFA Senior Vice President Mr. Stephenson is a member of the firm's Portfolio Strategy Committee and serves on our research team. He previously held the position of Managing Director, Equities, at Continental Investment Advisors. He holds a Bachelor of Mechanical Engineering and an M.B.A. from the University of Virginia. He is a past president of the Richmond Society of Financial Analysts. Mr. Stephenson joined Lowe, Brockenbrough in 1986 and has 38 years of investment experience.
		Lawrence B. Whitlock, Jr., CFA Managing Director Mr. Whitlock has responsibilities in portfolio management and quantitative research. He was formerly President and Chief Investment Officer of Commonwealth Investment Counsel, a subsidiary of Wheat First Butcher Singer. He holds a B.A. in History from the University of Richmond and a Master of Science in Business from Virginia Commonwealth University. Mr. Whitlock joined Lowe, Brockenbrough in 1993 and has 34 years of investment experience.