STEVEN E. BERMAN, VICE CHAIRMAN

Mr. Berman is a founder and Principal of Palisade Capital and member of the Investment Policy Committee. Prior to joining Drexel Burnham in 1986 as Executive Vice President of its Broad Street Investment Management division, Mr. Berman had experience as a practicing attorney and CEO for a manufacturing company. He joined Smith Barney in 1990 as Senior Vice President of Investments and, in 1995, co-founded Palisade Capital. Mr. Berman received his Juris Doctor degree from Brooklyn Law School and his Bachelor's degree from Syracuse University.