815 Colorado Avenue,    Stuart, FL 34994 Tel: [772] 221.2651    Fax: [772] 221.2656 email: nfalcone@nmfasset.com www.nmfasset.com

People

Nola Maddox Falcone, CFA Managing Principal

Former 5 Star Mutual Fund Manager, Morningstar Former President, Co-CEO and Portfolio Manager of Evergreen Asset Management Corporation M.B.A., Wharton School of Finance B.A. Duke University Board of Visitors, Fuqua School of Business, Duke University Member, Clark Advanced Learning Center Management Board Indian River Community College, Stuart, Florida Member, Donor Development Advisory Committee for the American Baptist Church USA, Valley Forge, Pennsylvania Featured in Money, U.S.A. Today, Financial World, Ladies Home Journal, Morningstar, The NewYork Times, Town & Country, Changing Times, Barron's and Forbes on Fox.

Brian Yacko Vice President, Trading

2007 – Present, NMF Asset Management LLC 2005 – 2007, Manager, Trading and Operations, Carl Domino, Inc. 2000 – 2004, Relationship Officer, JP Morgan Private Bank 1999-2000, Financial Associate, The Vanguard Group 1997-1999, Operations Assistant, Brandywine Asset Management B.S., Southern Illinois University Series 7 & 65 licensed

William J. Gilcher Portfolio Manager and Research Analyst

2005-Present, NMF Asset Management 2004-2005, Research Analyst, Roland George Investments Program 2004-2005, Operations Assistant, KCM Asset Management Series 7 licensed Passed Level I of the CFA Examination in 2007 BBA, Stetson University School of Business

Rachel Satterfield Portfolio Assistant

2005- Present, NMF Asset Management 2002-2005, Senior Registered Client Service Representative, Legg Mason 2000-2002, Registered Sales Assistant, UBS Financial Services 1998-2000, Registered Client Service Representative, Legg Mason 1997-1998, Registered Sales Assistant, First Union Brokerage Services Series 7 & 63 licensed BA, Florida State University

Advisory Board

NMF maintains an Advisory Board which, as part of the firm’s Business Continuity and Disaster Recovery plan, would assume the role of making business decisions relating to NMF, as part of a succession plan in the event of the illness or death of Nola M. Falcone, Managing Principal. In addition, the role of the Advisory Board includes providing advice concerning certain economic issues, reviewing the periodic investment letter to clients, providing guidance with regard to employee hires, helping to build clientele, assessing the investment risk of the clientele and generally assisting the firm in implementing changes, when necessary.

Peter Buffington

Peter Buffington retired in 2001 after a thirty eight plus year career with Chase Manhattan Bank primarily in the high net worth and trust investment advisory units. He was a vice president and senior portfolio manager. Earlier in his career, he was a security analyst and junior portfolio manager in the institutional advisory unit. After graduating Harvard, (AB 1958) and Columbia Graduate Business School, (MBA 1962) he joined the New York Society of Security Analyst and became a CFA. In the major part of his career he managed individual taxable accounts for some of Chase Manhattan Bank’s major client families and some of their related charitable foundations. Peter also served for most of this period on the Investment Review Committee overseeing individual investment advisory accounts, trusts, and estates. His community and educational service roles have been in fund raising for Harvard, Columbia University, Phillips Exeter Academy, and The Professional Children’s School in New York City. For this last organization, he served on the Finance Committee and the Board of Directors for almost 30 years. In New York City he served on the Board of Managers and various committees of the Harvard Club of New York City, on the board of the English Speaking Union of the U.S., and on the St. George’s Society Executive Committee.

Charles Falcone, D.Eng.

Dr. Falcone is a retired senior vice president and board member of American Electric Power Service Corporation, the management arm of AEP, a large electric utility holding company headquartered in Columbus, Ohio. After heading AEP’s wholesale power marketing, system operation and transmission policy functions for 11 years, from 1986 to 1997, he elected early retirement. He had previously served as the company’s data processing executive. He served AEP for 30 years. Earlier in his career, Dr. Falcone was an economic consultant with Stanford Research Institute. He was also a regulator and division manager, Division of Power Supply and Reliability, Economic Regulatory Administration, with the US Department of Energy, Washington, DC, in the late 1970’s. Since retirement, Dr. Falcone has been an independent consultant providing expert management and technical services for a variety of domestic and foreign clients, including AEP, Duke Energy, Columbia Gas, Commonwealth Edison Corp, Amtrak Corp, Salomon Smith Barney, and the New York Power Pool. He has presented numerous speeches and papers related to electric utility deregulation before a variety of audiences. Charles Falcone holds a Doctor of Engineering degree from Rensselaer Polytechnic Institute, as well as a Masters degree from the same institution and a Bachelor of Electrical Engineering degree from Lehigh. From time to time he has taught graduate courses at universities. He has a keen interest in energy policy - world energy supply and use – and studies it carefully.

Leonard S. Hyman

Leonard S. Hyman is an economist and financial analyst specializing in the utility, energy, and telecommunications sectors. He headed Merrill Lynch's utilities research group from 1977 to 1994, leaving the firm as a first vice president. At Merrill, he supervised equity research coverage for the utilities sector and participated in numerous privatization efforts in Europe and Latin America. Afterwards, at Salomon Smith Barney, he served as a senior industry advisor to the Global Power Group, specializing in industry restructuring. He presently heads his own consulting firm and also acts as a Senior Consultant Associate to R. J. Rudden Associates, a consulting firm specializing in the utility sector. Mr. Hyman has served on advisory boards for the U. S. Congress, Electric Power Research Institute, EnerTech Capital and the International Foundation for Research in Experimental Economics. He is author or co-author of four books on the public utility sector and one on energy risk management, editor of a book on privatization, and contributor to numerous other books and periodicals. Mr. Hyman is a member of the New York Society of Security Analysts and the Wall Street Utility Group. He is a Chartered Financial Analyst (CFA), a graduate of New York University (Phi Beta Kappa), and received a graduate degree in economics from Cornell University.