Waddell & Reed Financial Inc.

Michael D. Strohm is Senior Vice President and Chief Operations Officer of Waddell & Reed Financial, Inc. Mr. Strohm is President of Waddell & Reed Services Company; Chief Executive Officer and Chief Operating Officer of Waddell & Reed, Inc., the principal underwriter of the Waddell & Reed Advisors Funds, Ivy Funds Variable Insurance Portfolios (formerly W&R Target Funds), and Waddell & Reed InvestEd Portfolios. Mr. Strohm joined Waddell & Reed in 1971 and has held various management positions in accounting and finance. He served as Principal Accounting Officer of Waddell & Reed Financial, Inc. from its initial public offering in March 1998 to June 1999. He was appointed Senior Vice President of Waddell & Reed, Inc. in 1994. He was appointed President of Waddell & Reed Services Company in June 1999, where he directs the activities of client services, transfer agency, management information systems, portfolio accounting and administrative services. Mr. Strohm received his undergraduate degree in 1973. He earned an MBA in 1979 from Rockhurst University in Kansas City, Missouri. Mr. Strohm is a member of the Financial Executives Institute, Institute of Management Accountants and serves on the Investment Company Institute Board of Governors and the Board of Directors for ICI Mutual Insurance Company.

Daniel P. Connealy is Senior Vice President and Chief Financial Officer of Waddell & Reed Financial, Inc. Mr. Connealy joined the Company in June 2004. From June 2001 to January 2003, Mr. Connealy served as Vice President and Chief Financial Officer of Janus Capital Group Inc. (formerly Stilwell Financial Inc.), a diversified financial services company operating in North America, Europe and Asia. Prior to joining Janus, Mr. Connealy served as a partner of the international accounting firm of PricewaterhouseCoopers from 1969 to 2001. He specialized in financial service companies and served in PwC's Kansas City, Seattle and London offices. Mr. Connealy earned a BSBA in Accounting from Rockhurst University in 1968, is a CPA, and a member of the American Institute of Certified Public Accountants (AICPA). Mr. Connealy is a member of the Board of Trustees of the Russell Investment Company Funds and its Audit Committee.

Senior Vice President and Chief Marketing Officer, Waddell & Reed Financial, Inc. Chairman of the Board and President, Waddell & Reed, Inc. President and Chief Executive Officer of Ivy Funds Distributor, Inc. Thomas W. Butch is Senior Vice President and Chief Marketing Officer of Waddell & Reed Financial, Inc.; Chairman and President of Waddell & Reed, Inc.; and President and Chief Executive Officer of Ivy Funds Distributor, Inc. In these roles, he is responsible for all retail sales of Waddell & Reed Advisors Funds, Ivy Funds and Ivy Funds Variable Insurance Portfolios (formerly W&R Target Funds), both through Waddell & Reed financial advisors and unaffiliated broker/dealers. He also is responsible for corporate and retail marketing and for developing and managing subadvisory and other strategic relationships. Mr. Butch joined Waddell & Reed in November 1999 from Stein Roe & Farnham, Chicago. During his five years at Stein Roe & Farnham, he served as president of the mutual fund division, and, previously, senior vice president and director of marketing. Prior to that, he was a first vice president at Mellon Financial Corporation in Pittsburgh, where he had a 13-year career. A native of Pittsburgh, Butch is a 1978 graduate of The Pennsylvania State University.

Executive Vice President, Associate National Sales Manager, Waddell & Reed, Inc. Bradley D. Hofmeister is Executive Vice President and Associate National Sales Manager for Waddell & Reed, Inc. Brad supervises all business units within the Financial Advisors Division which include Professional Development, Sales Support & Services, Field Operations, Recruiting and Contract Administration. Mr. Hofmeister joined Waddell & Reed in 1986 as a Financial Advisor where he earned the Company's top honor of Pacesetter during his first year, and was promoted to District Manager in 1988. In 1989, he was promoted to Division Manager (now known as a Managing Principal) where he earned the Company's top honor in management and was transferred to Chicago, Illinois in 1995 in that role. Mr. Hofmeister became a Regional Vice President in 1997, and was appointed Associate National Sales Manager in 2005. A native of Missouri, Mr. Hofmeister graduated with a bachelor's degree in Business Administration and Management from Central Missouri State University (now known as the University of Central Missouri).

As Senior Executive Vice President and National Sales Manager for Waddell & Reed, Inc., Steve Anderson oversees Waddell & Reed?s national network of proprietary financial advisors, including sales of mutual funds, financial planning and retirement plan products, and selected insurance products. He also is responsible for overall field sales management, recruiting and training efforts, and ongoing product and sales support. Anderson joined Waddell & Reed in 1995 as a Division Manager. He became a Regional Vice President in 2000, and was appointed National Sales Manager in 2005. Anderson has been successful throughout his tenure at Waddell & Reed, including earning the company?s Crest Award five times, and was named to the Sales Management Council four times?distinctions he was awarded each year he was eligible. A native of Iowa, Mr. Anderson graduated with a bachelor?s degree in Economics from the University of Northern Iowa. He is a member of the GAMA Executive Committee and has also been a speaker at multiple industry conventions and meetings.

Dennis E. Logue has been a Director of the Company since January 2002. He has served as Chairman of the Board of Ledyard National Bank, Hanover, New Hampshire since August, 2005. He served as Dean of the Michael B. Price College of Business at the University of Oklahoma from July 2001 to September 2005. Prior thereto, Mr. Logue held numerous business-oriented professorships, most recently at the Amos Tuck School, Dartmouth College from July 1974 to June 2001. Mr. Logue is also a Director of Abraxas Petroleum Corporation, San Antonio, Texas, a natural gas and crude oil exploration, development, and production company.

Ronald C. Reimer has been a Director of the Company since March 2001. He is currently on the Board of Advisors and Chairman of the Investment Committee of Truman Medical Center hospital, Kansas City, Missouri ("TMC"). He serves on the Board of Directors of the TMC Charitable Foundation and on the Management Committee of the TMC Professional and General Liability Self-Insurance Trust as Chairman of the Finance Committee. In addition, he is the co-founder of, and a teacher at, Kansas City Servant Leadership School. Previously, Mr. Reimer co-founded Reimer and Koger Associates, an investment counseling firm in Merriam, Kansas in 1973 and served as its President until his retirement in 1988.