aaiPharma Inc.

Vito Mangiardi joined AAIPharma in 2005 as President of North American Operations. Prior to joining the company, Mr. Mangiardi served as Senior Vice President and Chief Operating Officer for the Late Phase Unit for Quintiles Transnational Corp., responsible for the management of all aspects of pharmaceutical development. Prior to this, Mr. Mangiardi served Quintiles as Senior Vice President of International Clinical Development Services. Mr. Mangiardi's previous leadership positions include President and Chief Executive Officer of Clingenix, Inc. and President and Chief Executive Operating Officer of Diagnostic Laboratories, Inc.

John Harrington joined AAIPharma in 2004, and serves as Executive Vice President of Human Resources. Mr. Harrington served as Senior Vice President of Human Resources for Quintiles Transnational Corp. from 2000 through 2004 and head of Worldwide Human Resources for Quintiles from 1997 through December 1999. Mr. Harrington was previously European Director of HR for Syntex, a Palo Alto based pharmaceutical company. Prior to joining the pharmaceutical industry, Mr. Harrington held a number of increasingly senior HR posts with British Petroleum over a 20-year period.

Sara Strassle joined AAIPharma in 2005, and serves as Senior Vice President, Corporate Communication. Prior to joining the Company, Mrs. Strassle served as President and CEO of Pilot Therapeutics Inc., a start-up product development company. Prior to this, she was Executive Vice President of Quintiles Transnational Corp. While with Quintiles, Sara was responsible for the worldwide integration of new acquisitions, executive management of corporate communication, public relations, marketing, and human resources.

Al Cavagnaro serves AAIPharma as Vice President, Corporate Legal Affairs. He joined the Company in 1993, and until 2002 has held various positions in the Company's legal department. From 2002 to 2005, Mr. Cavagnaro served AAIPharma as the Company's Corporate Secretary, working in the Office of the Chairman of the Board. In 2005, he returned to the legal department as Assistant General Counsel and Secretary for AAIPharma. Prior to joining the Company, Mr. Cavagnaro practiced law with the law firm Womble Carlyle Sandridge & Rice in Raleigh, North Carolina. Previously, he served in the U.S. Navy Supply Corps.

Gary Lehrman serves as Vice President of JPMorgan Chase & Co. Prior to joining JPMorgan Chase & Co., he served as Vice President of Catalyst Investment Management. Mr. Lehrman received a Bachelor of Science from the University of North Carolina, Chapel Hill and a Master's in Business Administration from Columbia University Business School.

Ian Wallace serves as Managing Member of River Run Management, LLC. Prior to joining River Run Management LLC, Mr. Wallace served as Managing Director of Oak Hill Partners. Mr. Wallace received a Bachelor of Arts from the University of Washington.

Mr. Landgraf is president and chief executive officer of Educational Testing Service, a private non-profit educational testing and measurement organization, and joined ETS in that position in 2000. Prior to that, he was executive vice president and chief operating officer of E.I. Du Pont de Nemours and Company, where he previously held a number of senior leadership positions, including chief financial officer. Mr. Landgraf is also a director of ETS and Louisiana-Pacific Corporation. Corning director since 2007. Age 62.

Rebecca Pacholder serves as an Investment Analyst for Sandell Asset Management Corp. Prior to this, Ms. Pacholder served as an Investment Analyst for John A. Levin Co., Brencourt Advisors and Q Investments. Previously, she served as a Corporate Attorney for Baker Botts. Ms. Pacholder received a Bachelor of Arts from Princeton University and a Juris Doctor from the University of Texas Law School.

Dr. Morrison has served as a director since January 2004. Dr. Morrison is an adjunct professor of business management and marketing at the Cameron School of Business, University of North Carolina at Wilmington. Dr. Morrison taught international management and marketing from 1995 to 2001 and will teach international business starting in August 2007. Dr. Morrison had a 30-year international career with Eli Lilly, a pharmaceutical company, holding a number of marketing and general management positions in Europe, the Middle East and in several South American countries. He was president of Lilly Brazil at the time of his retirement from Eli Lilly in December 1993. Dr. Morrison serves on the board of directors of Diatron MI Ltd. and Diatron Messtechnik GmbH, private medical equipment companies. Dr. Morrison has also served as a member of the Cameron.

Stuart Markowitz, M.D. is a member of the board of directors for MBNA Bank. Dr. Markowitz is currently a Professor at Florida Atlantic University, an Assistant Dean at the University of Miami, and an Emeritus Partner of Drs. Markowitz, Rosenberg, Stein and Associates. Dr. Markowitz is also certified by the American Board of Internal Medicine. Previously, he was an Attending Physician at the Cleveland Clinic Hillcrest Hospital, the Chief of Medicine at The Cleveland Clinic Southpointe Hospital, and the Assistant Chief of Medicine at The Mt. Sanai Medical Center. Dr. Markowitz received a Medical Degree from The Ohio State University College of Medicine.